Page 134 - CW E-Magazine (12-11-2024)

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INDIAN PETROCHEM 2024 CONFERENCE

‘India’s basic petrochemicals supply defi cit to touch

80-mt by 2047’

The Indian petrochemicals sector cur-
rently has a capacity of over 9-mtpa of
ethylene and around 7-mtpa of propylene.
“In a matter of 65 years, the Indian petro
chemical industry has grown more than 40
times in terms of feedstock capacity. But
in spite of such a humongous growth, we
are still a net importer of petrochemicals,”
said Mr. Sumit Basu, Chief General Man-
ager (PC), Indian Oil Corporation (IOC).
“There is a current shortfall of 11-mt for
major petrochemicals and this defi cit is Inaugural session

India’s imports: top 20 chemicals (2023-24)
Source: Indian Oil Corporation’s presentation
projected to increase to 80-mt by 2047,”
he said, while giving a special address at
the 25th edition of‘ Indian Petrochem 2024’
conference, organised by Elite Conferences
in Mumbai recently.

India’s import bill of the top 20 chemi-
cals is about $17-bn in 2023-24. “For
some of these petrochemical derivatives,
like methanol, acetic acid, styrene, specia-
lity polymers like ethylene vinyl acetate
(EVA) or superabsorbent polymer (SAP),
there are no local manufacturers. Although
we have capacities in commodity plastics
like polyethylene and polypropylene, we Indian polyolefi ns capacity: Set to increase by 60% from 2018 to 2028
now need to look at targeting investments Source: SI Group’s presentation

134 Chemical Weekly November 12, 2024

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