India’s potential as a refining and petrochemicals hub

India is rapidly emerging as a global refining and petrochemical hub, aligning with the Union Petroleum and Natural Gas Ministry's strategic vision. By 2028, India will surpass China as the primary driver of global oil demand growth. The country plans to add 1.2 million b/d of refining capacity over the next decade, despite challenges from declining long-term margins. Our benchmarking shows most Indian refining and chemical assets currently fall short of top quartile. To boost profitability, refiners are focusing on deeper integration with chemicals. This insight addresses key questions: How will India's fuel and petrochemical demand evolve? What are India's capacity expansion plans and challenges? How do Indian assets perform and compete globally? What strategies are refiners using to boost profitability? How is India balancing emissions reduction? What does the Paradip refinery case study reveal about future investments?