At the Asia Petrochemical Industry Conference held in New Delhi in May, the Minister of Petroleum and Natural Gas, Government of India, said that the demand for petrochemicals is expected to nearly triple by 2040 in India.
The Indian petrochemical industry has grown exponentially over the years. According to the Ministry of Chemicals and Fertilisers, Government of India, the share of chemicals and petrochemicals (not including pharmaceutical products and fertilisers) exports in the total national exports increased from 9.2 percent in 2012-13 to 12.4 percent in 2019-20.
Petrochemicals occupy an important place in our everyday lives, in the form of plastics, packaging materials, textiles, paints, detergents, etc. The manufacture of petrochemicals in India is expected to grow rapidly due to the AatmaNirbhar Bharat and Make in India initiatives. Since the sector is an emissions-intensive one, adoption of technologies that reduce emissions from the sector would be key for making this growth sustainable.
