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India's petchem industry to grow to $100bn by 2020 - ASSOCHAM

India's petchem industry to grow to $100bn by 2020 - ASSOCHAM

SINGAPORE (ICIS)--The petrochemicals industry in India is expected to grow at a compounded annual growth (CAGR) rate of about 14% and will likely reach $100bn by 2020, industry body Associated Chamber of Commerce (ASSOCHAM) said.

India’s petrochemical industry is currently valued at around $40bn, ASSOCHAM said in a statement late last week.

Petrochemicals currently contribute about 30% to India's $120bn worth chemical industry, which is likely to touch $250bn by 2020, it said.

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