Indian petrochemical industry to overcome challenges to fulfill great potential

India's petrochemical sector has enjoyed rapid growth for the past decade. Driven mainly by consumption of polymers and synthetic fibres, domestic demand growth has been strong, which has also prompted a wave of planned investment in new capacity. In order to boost investments and growth in the petrochemicals sector, the Indian government has announced a national policy for the industry. These plans aim to increase investment, improve and develop new infrastructure, increase domestic demand, and build R&D centers.

According to the Indian Chemical Council, India's chemicals and petrochemicals sales are expected to reach US$200 billion by 2020. To achieve its development goals, India will need to overcome short-term economic difficulties and have a greatly expanded energy infrastructure. As the world faces the challenge of securing more energy while reducing carbon dioxide emissions, the key for future successes in the India's petrochemical sector also lies in the ability to achieve greater energy efficiency, carbon capture and storage, new feedstock sources - including clean coal and bio feeds - and a new generation of products and production technologies.