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CW Conference: India Poised for 'Tremendous Growth'

10:13 AM MST | February 23, 2011 | Natasha Alperowicz, Lyn Tattum, and Deepti Ramesh in Mumbai

CW's annual India conference, which opened today in Mumbai, provided further evidence of India's growing importance to the global chemical industry. R. Parthasaraty, president of the Indian Chemical Council, said in opening remarks that the Indian chemical sector will witness tremendous growth over the next 3-4 decades, growing at an average of 12%-13%/year. The industry's value will grow from $90 billion, to $250 billion-$300 billion, he says. India is one of the most diverse nations and as diverse as Europe. Already 5%-6% of the population can buy luxury goods...

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