The leaders from across the chemical and petrochemical industry convened at the 5th edition of the NextGen Chemicals and Petrochemicals Summit 2025 themed ‘Preparing for the future' in Mumbai  on June 18-19, 2025.

The summit sparked critical conversations on future readiness against the backdrop of shifting global supply chains, evolving sustainability mandates, and the rapid pace of digital transformation. 

The inaugural session themed ‘Global Chemical Market and India Opportunity’ was moderated by Pravin Prashant, Executive Editor, Indian Chemical News who in his welcome address shared an overview about India's vibrant chemicals and petrochemicals ecosystem. 

“As per reports, the chemical industry that currently stands at US$ 220 billion is aiming to reach US$ 1 trillion by 2040 and 2 trillion by 2047 if it continues to grow at a CAGR of 9.2%. Specialty chemical industry contributes a maximum US$ 60 billion driven by domestic demand, urbanisation and infrastructure. The agrochemicals and specialty are the key drivers besides the EV, battery and semi conductor that are expected to drive the future growth. Presently we are at 22 operating refineries with 256.8 million metric tonnes per annum. Going forward, the refining capacity is expected to reach 309.50 metric tonnes by 2028. The petrochemical refining capacity is at 35 million metric tonnes and is expected to reach 48 million metric tonnes by 2030. 18 CBG plants have been commissioned and 72 more are at various stages. 900 KTPA green hydrogen is currently under two modes and the overall renewable energy is expected to reach 500 gigawatt by 2030, meeting half of the energy demand. As we gear up to meet the growth targets across chemicals, petrochemicals, agrochemicals, pharma, automotive and other key segments, it is heartening to see the industry adopting digitalization and automation. We are also witnessing increased number of patents and collaborations on R&D. For a low cost model that industry aspires for, each stakeholder will have to play its critical role."

Prof. V. N. Rajasekharan Pillai, Vice Chancellor, Somaiya Vidyavihar University underscored the urgent need to create an industry-ready workforce through deeper and more structured collaboration between academia and the chemical industry.

"The Indian chemical industry currently employs around 2 million individuals across various functions, from senior managers to professionals trained in chemistry, chemical engineering, and related scientific domains. India produces about 12,000 chemical engineering graduates annually. Among the 600,000 science graduates that graduate every year, approximately 230,000 have a specialization in chemistry or chemical sciences. But a critical question arises: how many of these graduates are actually being meaningfully employed within the chemical industry? We must reimagine academic programs, particularly the four-year undergraduate courses to include substantial hands-on exposure to industry. One full year of industrial training or internships as part of the degree structure can greatly enhance employability. We need to align Indian educational models with global best practices with up to 40% of a university degree’s credit requirements can and should be earned through industry engagement. This would not only bridge the academia-industry gap but also equip students with practical insights and job-ready skills. Even though we are producing around 2,000 PhDs in chemical sciences annually, many of them struggle to find relevant opportunities due to issues surrounding employability. To address this, we need 'Professors of Practice', seasoned professionals from the industry, either as full-time or part-time faculty members in academic institutions. This would bring much-needed industry experience directly into the classrooms, ensuring students are exposed to real-world challenges and expectations.”

Dr. Alok Sharma, Director (R&D) and Board Member, Indian Oil Corporation Ltd. spoke on the various R&D initiatives being undertaken by the company in energy, petrochemical and oil to chemicals to make India self-sufficient.

“We are chasing two important goals set by the Prime Minister and these include Net Zero by 2070 and Atmanirbhar Bharat by 2047. At the same time, there is also a huge focus on energy security, affordability, and sustainability across various segments of the industry. As far as India’s energy growth is concerned, our energy demand is going to go upwards from 824 MTOE to 1718 MOTE by 2047, almost double. We are currently at 256 MMTP of coal refining, aiming at reaching 310 MMTP by 2030 and after that there is a big confusion as there are no new refining capacity expansion announcements. In terms of Net Zero, we are looking at achieving Scope 1-3 by 2070. About 40-50% of the Net Zero goals can be achieved by energy conservation itself and thus India Oil has taken a lot of initiatives in this direction. The digitalisation and innovation besides circular economy will have come into picture. There is push toward the CBG and we are working on that. In terms of biofuels, there is already 18% blending and we are now looking at more that 20% blending. The ethanol will be at the centerstage in coming years with a new aviation fuel. There is a mandate for 5 billion metric tonnes of green hydrogen with Rs 19,000 crore investment provided by the government. We are going to be one of the largest petrochemical producers in the country once the Paradip cracker plant gets operationalised in the next 2-3 years. "Innovation remains a part of our DNA and we are focusing on developing indigenous technologies. With the focus shifting towards petrochemicals, we have developed 5 platforms at Indian Oil including a premier technology called Indomax for high yield of ethylene and propylene. "”

Praween Singh, AVP & Head- External Engagement, Andhra Pradesh Economic Development Board (APEDB), Government of Andhra Pradesh highlighted that the state offers a competitive advantage with lower energy costs, streamlined business processes, swift approvals, and robust aftercare support for investors. 

“Andhra Pradesh has built a full fledged investment ecosystem that has plug and play industrial parks, smart governance, globally linked logistics and most importantly pro-active state machinery ready to partner with industries. At the heart of our strategy lies ‘Swarn Andhra Vision 2047’, a commitment to build a future that is inclusive, innovation driven and deeply aligned with sustainability at its core. Our destination is crystal clear, aimed at growing into a US$ 2.4 trillion economy with 15% GSDP annual growth and 175+ industrial parks and NextGen clusters besides generating about 2 billion jobs by India’s centenary year. The state has a robust connectivity infrastructure where investors can easily plug into AP’s well established logistic network connected by land, air and sea. We have a single window mechanism 2.0, a dedicated investment facilitation cell, integrated data management system and re-engineering of regulatory processes and procedures. The state industrial development policy 4.0 envisages SGST waivers, 100% stamp duty waivers and decarbonisation grants up to 30% for ultra mega plants aiming at net zero. AP-EDB is looking forward to welcoming the new businesses and co-creating sustainable growth.”

Siddhartha Ghosal, CEO & Country President, Dow Chemical International highlighted the importance of building domestic infrastructure and talent pool besides increased Capex utilization by the Indian chemical industry. He also laid thrust on the need for improved focus on the sustainability and circular economy to compete globally.

“From an overall trade deficit perspective, FDI or investment perspective, we are in a very good shape. There are a lot of government initiatives and incentives such as PLI, 100% FDI and Make in India by the central government as well as the other initiatives by respective state governments. In terms of policy support, there is US$ 18.7 billion in the union budget 2025-26 for the ministry of chemicals and fertilisers. We are expected to reach US$ 304 billion chemicals market by 2030 and in terms of FDI we have seen good investments last year. To reach our goals, we need to address the key parameters such as building domestic excellence, increasing capex utilisation, expanding global footprint, merger & acquisitions, and sustainability & circular economy. In terms of Dow’s sustainability journey increasing value over time, we started looking at reducing overall cost and waste in 2005 and then we looked at redesigning the products and processes in 2015. Later in 2025 we looked at rethinking business models and how AI can come in to help us in our sustainability goals. In 2030, we are looking at climate protection, safer materials and a circular economy, which is non-negotiable for the industry as we move forward. Dow is driving a lot of green chemistry initiatives that involve polymer production, re-cycling of feedstock and redesigning the packaging. We are coming up with carbon neutral silicon and bio-based polyethylene.”

Kapil Malhotra, Global Business Unit Head -Fluoropolymers, Gujarat Fluorochemicals Ltd. pointed out the need for a renewed focus on innovation and collaborative ecosystem.

“India is already the 6th largest producer of chemicals in the world and third largest in Asia. It is the fourth largest agrochemicals producer globally. Our export ranking stands at 9th position and we need to improve. In 2023, our industry stood at US$ 220 billion and we are looking at US$ 1 trillion by 2024 followed by US$  2-3 trillion in the later years. A lot of innovation is happening in India and the number of patents are growing multifold as compared to previous years. Rather than being mass producers of commodity chemicals we are also moving into specialty chemicals. We are witnessing increased marginal pressures due to unfair competition from China. With government support and collaboration, we can build a robust infrastructure. There is a rising need for differentiated value offerings that demands continuous innovation not just as an annual KPI but daily business imperatives. Moreover, the US reciprocal tariffs have created ripple effects but we expect them to get sorted over time. At GFL, we are using these challenges as catalysts for transformation. Through the use of fluoropolymers having vast applications, we are creating a huge value chain for India at a global level. There is a need for three strategic shifts. We need to move beyond being just the factory of the world to being the formulator of the future. The next phase of growth must be through R&D and close customer collaboration. The second shift is the structural shift where industry and regulators need to work closely. The third shift is towards sustainability and we need a lot of commitment to achieve it.” 

The 5th edition of NextGen Chemicals and Petrochemicals Summit 2025 themed ‘Preparing for the future' witnessed massive attendance by leading industry experts and stakeholders from pan India. The 12 sessions at the two-day event were attended by a total of 85 speakers and more than 500 delegates. 

The Country Partner of the event was Flanders Investment & Trade. The State Partner was Andhra Pradesh Economic Development Board (EDB). The Principal Partner was DCM Shriram Chemicals. The Gold Partners included Revvity Signals, Ingenero, Tubacex, GloGreen, BTG (A Voith company), Gujarat Fluorochemicals, Excel Industries, Epsilon Carbon, Aquapharm, HPCL, BPCL, and WoodField.

The Associate Partners were Zodiac Tank Container Terminals, ReGreen Excel and AnalytikJena. The Supporting Partner was Archroma. 

Industry Association Partners of the event included AMAI, CropLife, Gujarat Chemical Association, and Agro Chem Federation of India.