A new Boston Consulting Group (BCG) report, "Building The Next Indian Chemical Giant," provides a 10-point blueprint for Indian chemical companies (ChemCos) to achieve global scale through strategic shifts, strengthened capabilities, and focused investments, moving beyond incremental growth to become world leaders in the chemical sector. The report outlines key actions like embracing application-led solutions, making bold long-term bets, enhancing R&D, building global partnerships, and leveraging digital tools to transform the industry. 

India’s chemical sector has delivered two decades of strong growth and world-leading shareholder returns. The next challenge is not momentum - it’s scale, the report says. 

With the domestic market projected to exceed US $300 billion by 2030, incremental growth is no longer sufficient. This report sets out a clear, execution-focused blueprint for building enduring global leadership. “India’s domestic chemical market is projected to reach over $300 billion by 2030, up from nearly $150 billion today. Capital is available, equity remains strong, debt is accessible for the right projects,and manufacturing incentives exist for select value chains. India also remains a compelling geopolitical and cost proposition for global customers. The challenge is to think bold and act at speed. Pair market-facing moves (new value chains, partnerships) with an intense push on organizational capabilities,” the report adds.

“India’s chemical industry is at a decisive inflection point,” said Amit Gandhi, Managing Director and Senior Partner, and India Lead for Chemicals at BCG India. “ChemCos today have the capability, capital, and credibility. What they need next is bold ambition and deliberate choices. The next global chemical giants can be built from India, but not by doing more of the same.” 

The ambition needs to be US $1+ billion in revenue by 2030 if Indian companies are sub US $500 million, and US $2.5+ billion if companies are over that mark. This is a large jump and to make it happen needs a thoughtful and planned approach. 

Ten-Point Agenda for Growth 

The report presents a structured 10-point blueprint: five strategic moves and five organizational capabilities that Indian ChemCos must pursue to scale effectively. 

Application everything: Pivot from selling tonnes to solving chemistry problems for customers  

Place one big decadal bet: Integrate into Capex supercycles early to capture returns in the 2030s 

Scale cash from the boring parts of the value chain: Choose where to play, how to integrate, and how much to invest in core value pools 

Scout value in mid-sized European, Japanese firms: Acquire select companies, especially family-owned, for IP, brand and market access 

Build your own global-India ChemCo corridor: Run an always-on partnerships office; be the gateway to India 

Develop true marketing strength: Build teams that understand brand, sales and digital presence especially for global markets 

Improve margins by 200-300 bps with digital+AI at the core: Transform the full operating model (production, NPD, supply chain, sales) 

Talent, talent, talent: Professionalize with intent: Strengthen HR processes, build talent pipeline, plan succession 

Bet on new technology as a chemical-focused VC: Actively work with startups pursuing technologies that could pay off 2030+ 

Invest in 1-2 fundamental R&D fields: Budget $2.5–5 million annually for deep research 

“India already has the capability to compete globally in chemicals, but scale will now be determined by how companies rewire their operating models,” said Amita Parekh, Managing Director and Partner, BCG India. 

“Improving margins through digital and AI, investing consistently in R&D, and building strong global partnerships are no longer optional—they are core to long-term competitiveness. With rising import dependencies and large gaps in specialty and advanced materials, this is a rare opportunity for Indian players to localize, innovate, and position India as a critical node in global chemical supply chains.” 

The report, "Building the Next Indian Chemical Giant – The 10-point blueprint to scale", has been authored by Amit Gandhi, Amita Parekh, and Vinit Patel. It draws on proprietary BCG research and industry analysis to help Indian ChemCos move from strong national champions to globally scaled players.