India’s petrochemical industry is projected to surge to USD 300 billion next year, with the potential to grow to a staggering USD 1 trillion by 2040, according to Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri. Highlighting the sector’s rapid transformation, Puri shared in a recent post that India is becoming a global petrochemical powerhouse under Prime Minister Narendra Modi’s leadership.

“Our petrochemical sector, once valued at USD 220 billion, is on track to reach USD 300 billion by 2025, with potential to touch USD 1 trillion by 2040,” Puri said. He added that the sector’s growth would contribute significantly to job creation and a sustainable, self-reliant future for India.

To attract global investors, the government has launched initiatives like the Petroleum, Chemicals, and Petrochemicals Investment Regions (PCPIRs) and allowed 100 percent Foreign Direct Investment (FDI) in the sector.