New Delhi, Oct. 3 -- India is set to transform into a global leader in petrochemicals with a planned USD 37 billion investment aimed at achieving self-sufficiency and reducing import dependency.

This ambitious initiative is expected to position India as a significant player in the global petrochemical industry by 2030, with projections indicating it will surpass the United States to become the second-largest consumer of polyethylene.

According to S&P Global Ratings, India is projected to account for one-third of global petrochemical capacity additions by 2030.

The country's annual petrochemical consumption stands at approximately 25 to 30 million metric tons, with expectations for substantial growth driven by an expanding middle class ...