India is rapidly emerging as a global petrochemical hub, driven by strong economic fundamentals, steady domestic consumption, and rising investments. Currently ranking sixth globally in chemical sales (accounting for 3% of the global market), India's chemical and petrochemical sector is valued at USD 220 billion. It is projected to reach USD 300 billion, growing at a robust CAGR of 9.3%, with long-term plans to hit USD 1 trillion by 2040.
A key growth driver is India's massive domestic PVC supply deficit. Driven by infrastructure, agriculture, and water management, demand has surged while domestic production remains stagnant. Consequently, India is the world's largest importer of PVC resin, with imports expected to cover 60–65% of domestic consumption in FY 2026.
To address this gap, the Company is developing a world-class petrochemical cluster in Mundra, Gujarat. The cornerstone of this initiative is a phased 2 million metric tons (MMT) per annum PVC project. The first phase, with a capacity of 1 MMT per annum, is on track to be fully commissioned by FY 2027-28 significantly reducing import dependency and strengthening India's self-reliance.
