India Petrochemicals Report Q2 2018
The downturn in Indian petrochemicals output seen in 2017, caused primarily by the impact of demonetisation and theintroduction of the general sales tax, is over and BMI expects 2018 to show more robust growth. Base effects, stronger industrialgrowth - particularly in end markets - and the expansion of petrochemicals capacities should combine to put the sector on astronger growth footing. In the long-run, the market will be fuelled by increasing per capita consumption of plastic in a country witha rapidly rising population and a growing middle-class. The main gap to bridge is in the transition from basic to high value andadvanced petrochemical products, which should come with increased foreign investment.
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