Petrochemical sector in recent times has been hit hardly by the volatility in crude prices and demand destruction worldwide due to global recession. Indian petrochemical sector too performed meekly.

Globally import duty on polymer ranges from 6.5% (Europe and the US) to as high as 30% in Malaysia. In Saudi Arabia it is at 12.5% where feedstock cost is almost one-sixth in India.

Source: Rediff

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