India’s fast-growing economy, propelling strong demand for goods and services, has caught the attention of the world, and chemical companies – Indian and international – will more and more look to address the sizable market opportunities that are rising. The next phase of the chemical industry’s growth will have to take place in collaborative mode, in which partners turn individual strengths to collective progress, with active support from policy makers and governments.
These were some of the observations made by Dr. Markus Kamieth, CEO, BASF SE, and President, International Council of Chemical Associations (ICCA), while at the 61st Annual Awards Presentation Function of the Indian Chemical Council (ICC), the apex national body representing the Indian chemical industry, in Mumbai on September 11, 2026.
‘BASF will target to grow faster than the market’
Dr. Kamieth also reiterated BASF’s sturdy commitment to India, adding that the company will target to grow faster than the market in India, energized via the opportunity the nation presents. He defined India as one of the engines of global growth, including that the skilled workforce in the country Is among its greatest benefit. “It is essential that women are more participative within the industry,” he added.
Referring to the challenging global environment for chemicals, with rising uncertainty and trade barriers, he stressed that nations that attract the talent and focus on innovation and execution will be ones so that it will thrive. India, he added, has a rare opportunity to build a production ecosystem by integrating design principles that integrate industrial strength and sustainability.
Dr. Kamieth underscored the importance of predictable policies, world-class infrastructure, innovation, and industry-academia collaboration in forming a globally competitive production, innovation and export ecosystem.
“There is no strong production economy without a sturdy chemical industry,” he stressed.
‘Aim for greater self-reliance’
Mr. Tejveer Singh, Secretary, Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilizers, Government of India, explained main priorities for India’s chemical industry specially greater self-reliance, in the wake of numerous global trade challenges. He also called for accelerated R&D investments by industry, while noting that the government on its part will focus on giving the much needed infrastructure and streamlined approvals to permit lower manufacturing costs and raise competitiveness.
Mr. Singh also emphasized current government initiatives, such as the approval of three dedicated Chemical Parks under the ‘Bhavya Rasayan’ scheme and ongoing efforts to include chemicals and petrochemicals under the RDI scheme.
Stressing the significance of sustainability, he advised the chemical industry to adopt cleanser and greener practices, leverage available support for carbon capture and utilisation, and develop globally competitive value chains.
‘Unprecedented opportunity window’
Earlier, in her welcome remarks, outgoing ICC President, Ms. Ramya Bharatram, Managing Director & CFO, Thirumalai Chemicals Ltd., mentioned that India going through an unprecedented opportunity window that it must leverage. “The pace of decarbonisation is accelerating but competition is likewise intensifying,” she remarked.
‘Collaborative approach to build worldwide chemical leadership’
Mr. Samir S. Somaiya, Chairman & Managing Director, Godavari Biorefineries Ltd., who took over as President, ICC, cited that the opportunity in India’s chemical industry expand well beyond meeting domestic consumption.
“India will consume considerably more chemicals as our economy grows. The question is: will we definitely import a larger share of what we consume, or will we build the capabilities to manufacture more of it ourselves and, importantly, generate products that the world wants to purchase from India?”
He stressed that the “ambition cannot simplest be import substitution. It has to be value creation. We require to ask where India has the ability to build scale, where we can apply technology, where we can move up the value chain and where we can create globally competitive businesses.”
India, he added, require to develop its own competitive model– one that integrates scale and technology with the country’s unique resources and capabilities, including natural and agricultural resources.
Lifetime fulfillment awards
ICC also presented its Lifetime Achievement Awards to three individuals for their unparalleled impact on the chemical sector.
Mr. Mukesh Shah, Chairman, Fine Organic Industries Ltd., was awarded the ‘ICC Lifetime Achievement Award’, while Mr. S.R. Deo, Former Managing Director, NOCIL Ltd., was awarded the ‘ICC D.M. Trivedi Lifetime Achievement Award for Management of Industry.” Prof. Ashutosh Sharma, Institute Chair Professor, IIT Kanpur, was awarded the ‘ICC D.M. Trivedi Lifetime Achievement Award for Education & Research.’
Earlier in the day the 17th Annual Seminar on ‘Recognizing Excellence of Performance in Various Facets of Chemical Industry’, was organized. Mr. Deepankar Aron, Joint Secretary – Chemicals, DCPC was Chief Guest, and Prof. Sunil S. Bhagwat, Director, Indian Institute of Science Education and Research (IISER), Pune was Guest of Honour.
