ibef: March 28, 2018
Singapore: India may witness record demand for diesel in 2018 with the government targeting massive infrastructure spending. The growth in demand can double in the calendar year 2018 from 2017, aided by a regular monsoon which is expected this year. Consumption of industrial fuel in the country is expected to rise by 5-8 per cent in 2018. Increased focus on rural development, recovery in industrial/freight activities accompanied by activity in construction sector would boost the Indian gasoil, according to consultancy FGE. India has already consumed 13.2 million tonnes of diesel in the first two months of 2018, an increase of 10 per cent year-on-year, according to data released by Government of India.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.