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Petronas aims for 10% of Indian lube market

Malaysia’s Petronas is gearing up to capture at least 10% of India’s lubricant market, which is worth about RM13.84 billion (US$3.97 billion) annually. Though it just entered the market last year, Petronas is confident of securing a slice of the growing trade, which has been spurred by more than one million vehicles on Indias overcrowded roads. With the Indian economy on the rise, its gross domestic product (GDP) growth accelerating at 9% annually, coupled with the automotive sector itself expanding at about 15% yearly, the market offers a huge potential for lubricant suppliers. (August 14, 2007)