India’s Rs 370 Bn Petrochemical Expansion to Shift Asian Supply

07 Oct 2025 CW Team

India’s planned investments worth over USD 37 billion (around Rs 3 lakh crore) in the petrochemical sector are poised to reshape Asia’s supply landscape, according to a new report by S&P Global Ratings.

The report noted that India’s drive toward petrochemical self-sufficiency mirrors China’s earlier expansion and could intensify competition in the region. “India’s capacity additions will significantly alter trade flows and increase competition among Asian producers,” said Ker Liang Chan, credit analyst at S&P Global Ratings.

S&P estimated that public sector enterprises have committed about USD 25 billion, largely linked to refinery expansion, while private sector investments of USD 12 billion are being planned with flexible timelines.

While India’s expansion could pressure regional exporters due to oversupply, the domestic market is expected to remain resilient, backed by rising consumption. The country is projected to overtake the United States as the second-largest consumer of polyethylene.

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