The Indian Chemical Council (ICC), the apex national body of the Indian chemical industry, successfully hosted the 18th Annual India Chemical Industry Outlook Conference and Exhibition, with the theme "Engineering the Future: Reinventing the India Chemicals Sector for Enhanced Resilience," at Hotel J W Marriott Hotel, Mumbai.

A key platform for policymakers, industry leaders, and investors, the event comes as India's $220 billion chemical industry gears up to surpass $1 trillion by 2040, reinforcing the nation's position as a global chemical hub.

A whitepaper by McKinsey & Company was released at the conference and exhibition, titled, ‘Building Resilience for Global Leadership: The Path Forward for India’s Chemicals Industry.’

The report highlights a new period for the global chemicals industry. It also discusses India’s chemical industry, and the potential for its high growth and resilience. Lastly, the report covers the way forward for Indian chemical companies.

In his keynote address, Dr. Kartik Bharat Ram, President, ICC and Joint Managing Director, SRF Ltd. said, “The event has grown exponentially over the last few years, uniting visionaries, innovators, and thought leaders to shape the future of India’s chemical industry. With rising domestic consumption, shifting supply chains, and competitive costs, the sector is poised for significant growth. Government support and technological advancements further drive this momentum."

"Representing over 80% of the industry, ICC received the prestigious 2024 OPCW Hague Award for its commitment to chemical safety and security. Now, our focus must be on positioning India as a global powerhouse in chemicals,” added Ram.

Addressing the event through a video message, Nivedita Shukla Verma, Secretary, Department of Chemicals & Petrochemicals, Ministry of Chemicals and Fertilisers, Government of India, emphasized on the theme’s relevance amid the evolving geopolitical landscape and India's vision for Viksit Bharat 2047.

Highlighting the need for increased investments, R&D, and global value chain integration, she announced the approval of five new Centres of Excellence (CoE), with plans for three more. A dedicated portal now connects 1,000 industries with 50 research institutions, fostering industry-academia collaboration.

She also stressed policies promoting renewable resources and cleaner technologies, balancing economic growth with environmental and human health priorities.

Delivering the keynote address, Deepankar Aron, Joint Secretary - Chemicals, Department of Chemicals & Petrochemicals, Government of India, highlighted the impact of global geopolitical shifts and the urgent need for technological reinvention in the chemical industry.

He emphasized that achieving Viksit Bharat 2047, as envisioned by the Prime Minister, requires rapid economic expansion—targeting a $26 trillion economy and a per capita income exceeding $14,000.

He noted that initiatives like Atmanirbhar Bharat, Make in India, and PM Gati Shakti will strengthen manufacturing, attract global investments, and integrate India into international supply chains. With chemical exports contributing 7% of India’s merchandise exports ($45 billion last year) and FDI inflows nearing $20 billion over two decades, the sector remains a key growth driver.

Aron reiterated India’s commitment to INDOVATION—affordable, accessible, and sustainable innovation with Indian characteristics.

Marco Mensink, Director General, European Chemical Industry Council – CEFIC, Brussels, Belgium, spoke in his keynote address on the geopolitical development and the opportunities which are unfolding for India’s chemical industry.

The conference focuses on growth, market expansion, and the impact of AI, technological advancements, and sustainability on India's chemical sector.

The 18th ICC Conference explored digital transformation, AI integration, and sustainability-driven innovations. Experts shared case studies on net-zero initiatives, including carbon capture, process automation, and sustainable feedstocks. The role of hydrogen-based production in reducing carbon footprints and government-backed R&D incentives for energy-efficient processes was also highlighted.

India is emerging as a leader in eco-friendly specialty chemicals amid a global shift toward climate-conscious production. With rising investments in blockchain-backed supply chains, AI-driven quality control, and smart manufacturing, the industry is undergoing a tech-driven transformation shaping its long-term competitiveness.

The 18th ICC Conference will be a key platform for driving AI adoption, sustainable practices, and technological innovation. As India strengthens its global footprint, the chemical sector remains integral to the nation’s ecological and economic goals.

Earlier in the day, Kamal P. Nanavaty, Chairman, Conference and Exhibition Expert Committee, ICC, gave his opening remarks at the conference. While welcoming the delegates, he stressed the importance of the theme of the conference and setting out the goals for the industry. Ramya Bharathram, Vice President, ICC and Managing Director & CFO, Thirumalai Chemicals Ltd. proposed the vote of thanks.