India has an annual consumption of 25-30 million metric tonnes of petrochemical products. The chemical and petrochemicals sector, currently valued at $220 billion, is projected to grow to $300 billion by 2025, with demand anticipated to triple by 2040, potentially reaching an astonishing $1 trillion, according to Puri.

Source: BusinessToday

With a growing number of citizens entering the middle class, the demand for a wide array of products—many derived from petrochemicals—is expected to rise significantly.

The country is expected to attract investments totaling $87 billion over the next decade to satisfy the increasing demand for petrochemicals, as stated by the oil minister of India, Hardeep Singh Puri, on October 19.