New Delhi, Dec. 31 -- India's domestic petrochemical consumption is expected to grow at a robust 6-7 per cent per annum over the medium term, supported by sustained economic expansion and steady demand from downstream industries, according to a report by CareEdge Ratings.

The rating agency said the strong growth trajectory has made reducing import dependence a strategic priority for the sector, prompting both public and private companies to announce aggressive capacity expansion plans across key petrochemical segments.

Capacity Expansion Aimed at Import Substitution

The report highlighted that polypropylene (PP) capacity is projected to rise 1.8 times between FY25 and FY30, outpacing the estimated 1.4 times increase in demand during th...