18 May 2007 07:24 [Source: ICIS news]
TAIPEI (ICIS news)--India has become a trillion-dollar economy and the chemicals sector is booming, KG Ramanathan, president of one of the country’s top industry associations said on Friday.
Our economy had "joined the club", said Ramanathan of the Chemicals and Petrochemicals Manufacturers Association (CPMA) of ?xml:namespace>
Gross domestic product (GDP) had averaged 9.2% in 2006 and 2007 and the chemical industry was growing in excess of that, he added.
Demand growth for polyolefins was 10% in 2006, with plenty of room for growth as per capita consumption of polymers was still only 5kg, he said.
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