India’s chemicals and petrochemicals demand estimated to reach one trillion dollars by 2040: Union Minister Hardeep Singh Puri

New Delhi: Petroleum and Natural Gas Minister Hardeep Singh Puri stated that India is projected to account for 25 percent of global energy demand growth in the next two decades. Speaking at the Asian Petrochemical Industry Conference in New Delhi yesterday, the Minister emphasized the potential of the Indian chemicals and petrochemicals sector, which currently stands at a market size of 190 billion dollars. 

Mr Puri



highlighted that the sector aligns with the government's Make in India initiative and can transform India into a global manufacturing hub. The Minister also mentioned that the Indian petrochemical industry is expected to contribute nearly ten percent to the incremental growth in global petrochemical demand. He said, the country's chemicals and petrochemicals demand is estimated to reach one trillion dollars by 2040.