As with the election of any new Prime Minister in a country, sweeping changes usually ensue. India’s 15th and recently elected leader, Narendra Modi, is no different and momentum from his appointment continues to swell.
But before Modi, industrial gas growth in India over the decade from 2003-2013 was a healthy 14% annually, according to figures from gasworld Business Intelligence. Closer analysis of the figures reveals this growth almost ground to a halt in 2011 and 2012, demonstrating the vigorous nature of its growth in this timeframe as a whole.
Richard Jones, Senior Analyst from Business Intelligence explained that the global recession was the reasoning behind the dip, as it caused a lag in projects being commissioned which was felt a couple of years later, with “market increases reduced to around 5% as opposed to the huge double-digit leaps witnessed in the mid-noughties.”
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