kvrao: Bangladesh, Sri Lanka, Nepal Hailed for Growth Edit article Published on April 19, 2016

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kvrao: Bangladesh, Sri Lanka, Nepal Hailed for Growth Edit article Published on April 19, 2016

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Bangladesh, Sri Lanka, Nepal Hailed for Growth Edit article Published on April 19, 2016

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BY K. VENKATESHWAR RAO • APRIL 19, 2016 MUMBAI – India’s lubricant market attracts much attention because of its trends for size and quality. But several of its neighbors – Bangladesh, Sri Lanka and Nepal – are also growing at attractive rates, an industry insider told a conference here this month. At the ICIS India Base Oils & Lubricants Conference on April 5, Gulf Oil Lubricants India Ltd. Managing Director Ravi Chawla said lube demand in all three countries is growing due to economic expansion, growing vehicle parcs and investment in infrastructure. Expansion of the country’s power grid is expected to help drive growth in Bangladesh’s lubricant market. Bangladesh is the biggest of the three markets, with annual lube demand of 73,000 metric tons, Gulf estimates. Lubricant consumption typically tracks economic activity, and some of the things that make the country an attractive lube market are the trends of its economy. It is among the “Next 11” group of countries identi...
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