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Hans India
6 minutes ago
- Hans India
Petrochemical Consolidation to Accelerate Globally; India Poised to Play Strategic Role: BCG Report
The global petrochemical sector is set to undergo significant consolidation, driven by prolonged low margins, overcapacity, and shifts in regional growth patterns, according to a new report by Boston Consulting Group (BCG) titled 'Preparing for the Next Wave of Petrochemical Consolidation.' The report points to a steep drop in sector profitability, with average ROCE falling from 8% in 2019 to ~4% in 2024, and highlights that capacity additions in several regions are outpacing demand growth. These conditions are accelerating rationalization and consolidation efforts, as companies seek to remain competitive in an increasingly challenging environment. India: A Regional Growth Engine in the Making India is uniquely positioned to emerge as a regional consolidator, given its robust domestic demand and expanding manufacturing capacity. With an eye on this strategic opportunity, Indian petrochemical players must now look beyond organic growth to targeted M&A, vertical integration, and investment in technological and sustainability capabilities. Commenting on the opportunity ahead, Kaustubh Verma, Managing Director & Partner, Energy Practice, BCG, said, 'As the global petrochemical landscape moves toward a new phase of consolidation, India stands at a strategic inflection point. With strong domestic demand and a growing manufacturing base, Indian players have the opportunity to carve out regional leadership by leveraging targeted M&A, securing critical feedstock access, and strengthening their technology and sustainability edge. To stay competitive, companies must proactively assess their portfolios and prepare for multiple market scenarios, those who act decisively now will be better positioned to capture long-term advantage.' Key Highlights from the Report: Margin Pressure is Here to Stay: With slow demand growth and increasing production capacity, global petrochemical players face tighter margins and the need for operational efficiency. M&A and Rationalization to Dominate Strategy: Capacity rationalization and strategic M&A will likely dominate boardroom discussions over the next few years. India Well-Placed for Strategic Expansion: India's domestic market growth, coupled with maturing industrial capacity, positions it as a potential consolidator in the region. Call to Action: The report urges petrochemical companies to reassess their portfolios, anticipate multiple market scenarios, and move early to capture the next wave of advantage. Please find the full report here: Preparing for the Next Wave of Petrochemical Consolidation
Time of India
6 minutes ago
- Time of India
Viral Video Showing Indian Man Remotely Operating Front Desk Of U.S. Hotel Sparks Debate
A video showing an Indian man remotely operating the front desk of a Miami hotel has gone viral, sparking mixed reactions online. The clip features a guest checking in via a video call with the virtual receptionist, believed to be working from India. Many viewers criticized the hotel for outsourcing American jobs abroad, with some calling for such practices to be banned. Supporters say this trend, boosted by the pandemic, offers cost savings and operational efficiency. India remains a major outsourcing hub, with many US companies relying on its skilled workforce. The video highlights ongoing debates about job security, immigration, and virtual work in the US.#virtualreceptionist #outsourcingjobs #miamihotel #remotefrontdesk #tiktokviral #joboutsourcing #h1bvisa #usjobs #americanjobs #india #viralvideo #toi #toibharat
Hindustan Times
6 minutes ago
- Hindustan Times
After Mumbai, Tesla to open 2nd India store in Delhi on August 11: Reports
Elon Musk's EV maker Tesla is all set to open its second store in India in the Delhi. The store will be opened at Worldmark 3 in Delhi's Aerocity on August 11, according to reports. With its Mumbai launch, Tesla initially offered two versions of the Model Y in India.(Representational Photo/Reuters) This comes after Tesla entered the Indian market with its first store in Mumbai last month. The construction for the new Tesla showroom, which is targeted to tap Delhi and the National Capital Region, is almost complete. Earlier on Monday, Tesla launched its first charging facility at Mumbai's Bandra-Kurla Complex, weeks after its store opened there, reported ANI news agency. Tesla's entry in India On July 15 this year, Tesla officially entered the Indian market after months of speculation with its first store in Maharashtra's Mumbai. It also launched its Model Y electric vehicle in India, with its price starting from ₹60 lakh (approximately $70,000) for its debut in the world's third-largest automobile market. Tesla's Model Y With its Mumbai launch, Tesla initially offered two versions of the Model Y in India. One is the rear-wheel drive model priced at ₹60.1 lakh ($70,000) and the long-range variant at ₹67.8 lakh ($79,000). These prices are significantly higher than other global markets. The same Model Y is priced at ₹38.6 lakh ($44,990) in the US, ₹30.5 lakh ($36,700) in China (263,500 yuan), and ₹46 lakh ($53,700) in Germany (€45,970). This huge disparity in costs is mostly because of India's steep import duties. The Rear-Wheel Drive version of Model Y offers a 500 km range and will be able to go from 0 to 100 km/h in 59 seconds. The Long Range Rear-Wheel one offers a range of 622 km and will go from 0 to 100 km/h in 5.6 seconds. Apart from their speeds, other features of both the versions of Model Y include 9 speakers, a 15.4-inch front-row touch screen and second-generation suspension noise reduction hardware.
