New Delhi, Dec. 30 -- India's domestic petrochemical consumption growth is expected to remain robust at 6-7 per cent per annum in the medium term, supported by continued economic expansion and steady demand from downstream industries, according to a report by CareEdge Ratings.

The report said that strong growth in consumption has made reducing dependence on imports a key strategic priority for the domestic petrochemical sector. In response, both public and private sector companies have announced aggressive plans to expand capacity across major petrochemical segments.

It stated, "India's petrochemical consumption growth is expected to remain robust at 6-7 per cent p.a. in the medium term, driven by economic expansion and downstream produ...