Coal gas to help reduce import bill by $10 bn in 5 years
The Dollar Business Bureau The government can encourage the use of domestic coal gas to produce urea and other chemicals in order to cut down on its imports bill by as much as $10 billion over the next five years. Coal Secretary Susheel Kumar said the imports of petroleum and natural gas can be slashed if we are able to produce gas from coal. "If we are able to replace this import by indigenous coal gasification ... it can safely be said that in next five years time, about $10 billion worth of import can be substituted. That's the mechanics which one has to really work on," Kumar told PTI in an interview. "Our dependence on petroleum and natural gas will be reduced ... We know that coal ...
Indian petrochemical industry, one of the fastest growing sectors: Study
The Dollar Business Bureau Growing at a Compounded Annual Growth Rate (CAGR) of about 14%, the Indian petro-chemical industry will likely grow into a US$ 100 billion industry by 2020 from the current US$ 40 billion level. This was stated by the Associated Chamber of Commerce & Industry (ASSOCHAM) in its study report titled- ‘Indian Petrochemical Industry: An overview’. The contribution of Petrochemicals to the Indian Chemical industry currently stands at 30%, the report said, adding the US$ 120 billion worth Indian chemical industry will also grow at a CAGR of 11% over the next few years and is likely to reach US$ 250 billion mark by 2020. The study prepared by the Energy Division of ASSOCHAM further stated that ...
