Tata Strategic Management Group is expecting India to emerge as a regional petrochemical production hub in next five to seven years.
According to Mr Raju Bhinge, CEO of Tata Strategic Management Group, this will lead to increase in availability of base petrochemical products for downstream applications coupled with increased supply of organic chemical raw materials like olefins and aromatics at globally competitive costs.
"The petrochemical capacity growth rates, which was three to four per cent per annum over the last five years are expected to increase four times to 12 to 15 per cent a year over the next five-seven years," he said.
At current prices, the downstream petrochemical industry production is expected to increase from the existing $15-$18 billion to $30-35 billion.
According to Mr Raju Bhinge, CEO of Tata Strategic Management Group, this will lead to increase in availability of base petrochemical products for downstream applications coupled with increased supply of organic chemical raw materials like olefins and aromatics at globally competitive costs. 
