‘Focus on infra spending in Budget 2021 expected to boost petrochemicals demand’

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The Govt on Tuesday said it expects more demand for petrochemicals like polymers and speciality chemicals in the country due to increased emphasis on infrastructure spending in the Budget 2021-22. Increased spending on infrastructure development in sectors like agriculture, healthcare and automobiles will result in increased demand for petrochemicals, according to an official statement. That apart, import duty cut on feedstocks such as naphtha for production of chemicals and petrochemicals will make the domestic products globally cost-competitive, it added.”The massive emphasis on infrastructure spending is expected to result in an additional consumption of petrochemicals like polymers and specialty chemicals,” the statement said.

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