With domestic demand for polymer expected to shoot up to 15 million tones by 2010 from the current level of 4m tones and the exports to shoot from .5m tones to 12m tones during the same period, Reliance Industries Ltd. Aims to develop India ino plymers processing hub by the year 2012.
In site of the specular growth of the industry, current per capita consumption of polymers is pegged abysmally low at just 4kg as against 20kg globally and 24kg in China.
The polymer industry is primarily driven by the growth in ethylene capacity and reliance has already committed sizeable investments in the sector. Growing 1.6 times of the global GDP growth rate, the 150m tones industry is expected to touch 200m tones and 200bn dollars by 2010.
