Indias oil consumption to outpace Chinas this year, Platts Analytics
The Dollar Business Bureau Oil consumption in India is likely to increase by 7-8% this year, overtaking the demand growth in China for the third year in a row, as the demonetisation impact is expected to be for a short-term, according to Platts. The demand for LPG (liquefied petroleum gas) and transport fuels will increase, while demand for naphtha will get a boost due to new petrochemical projects. “For the third year in a row, India's oil demand growth will outpace China's demand growth,” Platts Analytics said in a note, while adding that it was likely to rise at around 7% to 4.13 million barrels a day in 2017 as compared with 3% in China’s oil demand to 11.5 million barrels a day. The cash crunch ...
Double output in next 5 years: Chemical Minister
The Dollar Business Bureau Chemicals & Fertilisers Minister Ananth Kumar asked the chemicals and petrochemicals industry to target an annual growth rate of 14.7 percent so as to double its production in the next 5 years and said the government will support the industry’s growth story. While speaking at the “CHEMINAR-2016” in New Delhi on Friday, Kumar said, “India’s chemicals and petrochemicals industry is growing at the rate of 11–12 percent and has a production of worth $200 billion per year. I called upon the industry to go for a growth rate of 14.7 percent per year so as to increase its output to twofold in the next 5 years. The Government will facilitate in the growth story,” he added. On the issue of cost ...
Plasticulture can lift agro output to Rs.68,000 cr
The Dollar Business Bureau Agricultural output can increase to Rs.68,000 crore by using plasticulture applications in all pre and post-harvest requirements, a report by FICCI and Tata Strategic Management Group (TSMG) said. The term ‘Plasticulture’ is referred to the use of plastics in agriculture in a scientific way that not only enhances the productivity but also improves the input resources. While releasing the report, prepared by FICCI and TSMG, in New Delhi on Friday, Hukmdev Narayan Yadav, Chairman of Parliamentary Standing Committee on Agriculture & Farmers Welfare, highlighted the plasticulture benefits in agriculture. Yadav suggested that plastics industry in India should encourage sustainable development by funding in technologies that safeguard the environment and stimulate growth whereas balancing economic requirements and monetary constraints. The report focused ...
Indian petrochemical industry, one of the fastest growing sectors: Study
The Dollar Business Bureau Growing at a Compounded Annual Growth Rate (CAGR) of about 14%, the Indian petro-chemical industry will likely grow into a US$ 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 ...
