Jobs: India's petrochemicals sector will provide 100,000 jobs over the next decade

In this period, India will drive more than 10 percent of the growth of petrochemicals and will need to install a cracker every year by 2035 to meet domestic demand.

New Delhi (Natural Energy News): The petrochemicals sector in India offers a direct investment opportunity of over $ 30 billion, which will cascade into the downstream sectors - adding about 150 basis points to the gross domestic product (GDP) and more than 100,000 jobs over the next decade. The creation, according to Cairney.

The global consultancy firm said in a report published today that India will grow petrochemicals growth by more than 10 per cent in this period and will have to install a cracker every year by 2035.

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"India has emerged as one of the world's most attractive markets for petrochemicals investment," said Sudeep Maheshwari, a head of Kearney Energy and Process Industries practice. “We see the COVID crisis as a short-term hiccup. Long-term fundamentals remain intact, thanks to underpriced markets.

He said that India is likely to benefit from a lower crude outlook, which will improve domestic manufacturing competitiveness and global supply chain restructuring is likely to increase demand for speciality chemicals outside India in the coming decade, which in turn will drive petrochemical demand. Will increase

The new report, "Riding India's Petrochemicals Wave", examines the state of India's petrochemicals sector, shaping the domestic and global trends and stakeholders needed to succeed.

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According to the firm, the sector will undergo a significant transformation over the next decade and will plan several petrochemical expansions, domestic supply and demand dynamics with the refiner.

It added that players would have to re-examine their portfolio bets to ensure increased profits and we would see more participation and M&S between domestic and global companies, as players diversify away from commodity products, access technology To bring and manage capital risks.

The report outlines five imperatives for Indian and global players to ride the petrochemicals wave - placing the right portfolio bets; Adopt differentiated go-to-market model; digitally-enabled gain-and-reset resetting; Strengthen M&A and partnership capabilities; embedding sustainability in working methods.

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