January 10, 2026

In an exclusive interview with Pravin Prashant, Executive Editor, Indian Chemical News, Prakash Raman, Managing Director, Silox India shared insights on company’s growth prospects, pricing pressure, collaboration with Hindustan Zinc, sustainability initiatives, innovation centre, investments in Dahej and Odisha, and road ahead. Excerpts of the interview: 

How have been the last three quarters for Silox India in terms of market scenario and growth prospects? 

The last three quarters have been a mixed bag. The inorganic chemicals industry has been impacted by many factors. The global geopolitical situation created several unexpected challenges such as tariff-related issues. It may have not materially impacted us so far as our direct exposure to the US market is limited with less than 5 percent of our revenue coming from the US. At the same time, we are seeing demand moderation from some customers due to global uncertainties. Customers are attempting to diversify their sourcing, but this is a medium- to long-term process. If geopolitical tensions persist and are not resolved quickly, there will inevitably be some impact.  

The demand from the infrastructure segment remains strong, driven by sustained government investment in railways and airports. Paints and coatings market remains stable. Also, there were some industry-specific developments that offered pockets of positive momentum. The announced exit of BASF from the hydrosulfide business effective March, 2026 has created some momentum for existing players. Customers are now looking to qualify alternate suppliers to ensure continuity and secondary sourcing. While the overall industry sentiment may not be entirely positive due to the exit of a major producer, it has created short-term demand opportunities for remaining players. Overall, while the performance has been good we had to navigate challenges that were not anticipated at the beginning of the last financial year. 

Are you seeing pricing pressures in the market?

Yes, pricing pressure is clearly visible now. In the first one to two quarters, demand was strong and pricing was at healthy levels. However, pressure has emerged, initially from the export markets and now more broadly. More importantly, raw material costs, particularly sulphur, have risen sharply. Sulphur prices have more than tripled over the last two quarters which has had a far greater impact than end-product pricing pressure. 

How are you balancing rising raw material costs with competitive product pricing?

There is no silver bullet. We have undertaken multiple initiatives focused on efficiency improvement and waste minimisation. We have also accelerated investments to optimise raw material utilisation and improve operational efficiency. These measures have helped mitigate the impact to some extent but they cannot fully offset the cost escalation. We do expect some softening in raw material prices. If that does not happen, the coming quarters could be challenging, as we may be forced to pass on cost increases to customers at a time when demand is already softening. 

You have recently announced a collaboration with Hindustan Zinc for a new product. How does this help on the sustainability front?

Our relationship with Hindustan Zinc goes back over two to three decades. Sustainability is a key focus for us. Our Scope 1 emissions account for only about 8–9 percent of our total emissions, while Scope 2 and Scope 3 are the major contributors. To make a meaningful impact, collaboration across Scope 2 and Scope 3 is essential. Our partnership with Hindustan Zinc addresses Scope 3 emissions. We are now transitioning to EcoZinc, which has nearly 75 percent lower emission intensity per tonne of zinc produced. This will significantly reduce our overall carbon footprint, and we plan to pass on this benefit to select customer segments.  

We have already started receiving EcoZinc and will increase its share in our overall zinc consumption through 2026.  The product development was largely driven by Hindustan Zinc but we actively collaborated by articulating market needs and sustainability requirements. Eco Zinc is slightly more expensive but the long-term benefits are substantial. 

What other sustainability initiatives are you focusing on?

Water conservation is a major area. Between 2021 and 2024, we reduced water consumption by about 32 percent per tonne of product. This effort will continue. 

Could you update us on the new innovation centre inaugurated last year?

The innovation centre is now fully operational and world-class in terms of facilities and certifications. We have already begun work on several fundamental research programs relevant to Silox India. Importantly, the centre is intended to serve the global Silox Group, not just India. We are hosting a global technical meeting in early March, where R&D leaders from other group entities will deliberate on programs that can be scaled globally. The focus will be on both fundamental research and application development for new products. 

What is the status of your major investments at Dahej and Odisha?

The Dahej Industrial Park project is our largest global investment. The board approved the full investment in the last quarter. Despite some delays due to extended monsoon conditions, construction is now progressing well. Commercial production is expected by the first quarter of 2028. The total investment remains within Rs. 500–600 crore range, and we are on budget in terms of both timelines and capital expenditure. Around 50–60 percent of Rs. 500-600 crore investment in Dahej project will be deployed in 2026. 

The Odisha project faced some slowdown and momentum is expected to pick up in the second half of this year. 

Given ongoing geopolitical tensions including Ukraine war, inflationary pressures in the US, how do you view the road ahead?

We're shifting from hoping for stability to actively preparing for geopolitical volatility, acknowledging unknowns like Ukraine, Venezuela, and US inflation. Our approach now integrates geopolitical risk into all investment and operations, with focused efforts on geographical, customer, and market diversification—actions already underway to build resilience. 

At the same time, we are strengthening our competitiveness and agility. Sustainability initiatives are not just about being green as they help us reduce waste, improve efficiency, gain customer approvals, and access new markets. In some cases, they allow premium pricing; in others, they open new business opportunities. We expect to make significant progress on these fronts in 2026 and 2027. 

December 22, 2025

December 22, 2025

In an exclusive interaction with Pravin Prashant, Executive Editor, Indian Chemical News, Vishal Thakkar, Deputy CFO, Anupam Rasayan India Ltd. shares his insights on company’s vision, Jayhawk Fine Chemicals acquisition, revenue mix, geography mix, R&D development, long term contracts, customer engagement strategies, and sustainability. Excerpts of the interview: 

Anupam Rasayan has evolved from a domestic specialty chemicals company to a global player with a strong footprint in Europe, Japan, and the US. How has the company’s vision evolved since inception and where do you see it over the next 5-10 years? 

If you look at Anupam Rasayan’s journey over the past 49 years, the company began largely as an import-substitution player, manufacturing products domestically that were otherwise imported. After Anand Desai, the current Managing Director joined the company, the strategic focus consciously shifted from an inward-looking approach to a global and outward-oriented mindset. Over time, the company started working closely with high quality international customers, including global innovators such as BASF, Syngenta, and others. Core objective has always been to evolve from being a manufacturer to becoming a strategic supply chain partner for multinational originators. 

Today, the company manufactures in India and supplies across the world. The next phase of growth is about moving closer to customers. With our manufacturing footprint now in the US, we are better positioned geographically to serve customers more effectively. Going forward, our strategy will remain focused on offering integrated supply chain solutions and playing a deeper role in customers’ value chains. 

How does acquisition of US-based fine chemicals company Jayhawk Fine Chemicals Corporation strengthen Anupam Rasayan’s global footprint? 

Historically, Anupam Rasayan’s business has been largely Europe and India-centric, with Europe contributing a significant portion of revenues. Over the years, we expanded into Japan, which now accounts for around 15-17% of our revenue. The US was a market we had only recently begun building. Last year, it contributed about 2-4% of our revenue. The acquisition of Jayhawk Fine Chemicals changes that dramatically. Jayhawk derives nearly 70% of its revenue from the US, with the balance coming from Europe and Asia. This gives us far better geographic diversification. 

From an application standpoint, Anupam Rasayan has traditionally been strong in agrochemicals, with recent expansion into pharmaceuticals and performance materials. Performance materials currently contribute around 10% of our revenue, whereas for Jayhawk, nearly 65-66% comes from performance materials. This significantly balances our product portfolio. From a technology perspective, the acquisition adds advanced chemistry capabilities such as azo chemistry and Suzuki coupling reactions. It also strengthens our expertise in hybrid product manufacturing, where they are among global leaders. Finally, the acquisition brings with it a strong, experienced team, and complementary customer relationships, allowing both organizations to grow together. 

As per Q1 figures, life sciences which is inclusive of agrochemicals, personal care, and pharma business contributes 88% of revenues and performance materials contribute 12%. Do you expect this mix to change and if yes, by when? 

Even organically, Anupam Rasayan was moving toward portfolio diversification. Over time, we envisaged agrochemicals contributing around 45-55% of our revenues, pharmaceuticals around 25-30%, and polymers and performance materials close to 20%. With the acquisition, this transition will accelerate. We believe performance materials could account for one-third or more of our revenue. Going forward, over the next two to three years, one would see a much more balanced portfolio across agrochemicals, pharmaceuticals, and performance materials. 

How do you see the balance between domestic and international markets evolving, especially establishing footprint in key markets across Europe and Japan? 

If we look at the three different segments, agrochemicals, pharmaceuticals, and performance materials, our strategy varies by segment. In pharmaceuticals, our focus is on import substitution, making the domestic market particularly relevant. In agrochemicals and performance materials, however, the business is structurally export-oriented and we expect that to continue. 

With this acquisition, the US will become a significant market while Europe has historically been a meaningful market for us and Japan is now a contributor of 15-17% of business from practically zero a few years ago. With LoIs and contracts we have signed, the contribution of Japan will increase up to 30-35% in coming years. 

Anupam Rasayan has signed long-term contracts worth nearly Rs. 14,000 crore. How do you see this translating into revenues by the end of FY? 

Over the last two years, instead of chasing short-term growth, we focused on deep engagement with customers and building a robust pipeline. Our order pipeline has expanded from about Rs. 2,600 crore in FY22 to nearly Rs. 14,000 crore. Last year, we generated around Rs. 200-250 crore in revenue from long-term contracts. Over the next one to two years, this should increase to over Rs. 400 crore annually. Since these contracts typically span six to seven years, the Rs. 14,000 crore pipeline could translate into Rs. 2,200-2,400 crore of annual revenue, with a significant portion materialising in the near term. 

There don’t seem to be any LoIs or contracts in performance materials and electronic chemicals. Can you throw some light on this?

While earlier contracts were more life-sciences-focused, most of the recent long-term orders are in performance materials, including polymers and specialty materials. Out of our most recent contracts, a majority are linked to this segment, reflecting a clear strategic shift. 

How do you tailor customer engagement strategies across diverse industries - agrochemicals, pharmaceuticals, polymers, and electronics? 

As a custom synthesis and manufacturing (CSM) player, our model revolves around going closer to the customer and offering end-to-end supply-chain solutions. We typically work at the N-1, N-2, or N-3 stage, very close to customers’ finished products, without competing with them in the end market. For example, when we acquired Tanfac Industries Ltd., it was a strategy of offering fluorination chemistry where you need Hydrofluoric Acid (HF) and Potassium Fluoride (KF), essentially as a key fluorinating agent. This involved offering backward integration, broader chemistry capabilities, asset availability on the ground, and close collaboration with customers’ R&D teams over 12-24 months to commercialise products. The goal is to become deeply embedded in customers’ value chains. 

With nearly 90 products under development, how do you prioritise R&D and manage risk and reward? 

Our R&D prioritisation rests on a few key filters such as customer need, market potential, alignment with our chemistry capabilities, asset availability, and opportunity to add new chemistries to our portfolio. We avoid developing products where we lack manufacturing capacity or where significant greenfield investments would materially alter the risk-reward equation. Supply-chain resilience is also critical, around 80-85% of our sourcing is domestic, which strengthens reliability. 

How is Anupam Rasayan leveraging advanced manufacturing technologies such as continuous processes and flow chemistry? 

Historically, chemical manufacturing relied heavily on batch processes, which are energy and solvent-intensive with heavy environmental footprints. Continuous processing and flow chemistry significantly reduce environmental footprint, improve safety, and enhance efficiency. We have already implemented continuous and flow chemistry across multiple products and reactions. This is an area we will continue to scale up over time. 

How do you approach supply-chain risk management in a volatile global environment? 

Today, competitiveness is defined by supply-chain resilience rather than just product quality. Our strategy focuses on localisation, backward integration, and controlling a larger part of the value chain, illustrated by acquisitions that secure critical raw materials. At the demand end, moving closer to customers through overseas assets is equally important. The acquisition of Jayhawk Fine Chemicals is a step in that direction which means going near the customer and market; and manufacturing some parts of the product there. This dual approach, localised sourcing and proximity to end markets, helps manage global supply-chain risks effectively. 

What role can Anupam Rasayan play in strengthening India’s chemical manufacturing ecosystem? 

We continue to invest heavily in domestic capacity. Recently, we completed nearly Rs. 170 crore in Capex across Gujarat facilities. While most of our revenue comes from international markets, 100% of our manufacturing remains in India. Our objective is to leverage India’s manufacturing strengths to serve global customers, aligning closely with the Make in India vision. 

With Europe moving away from chemicals, many plants there are available at throw away prices. Are you looking at acquiring such plants and if yes, what are the chemistries you are looking at? 

I think that it may not be the most efficient way of utilizing the capital. Europe has many interesting opportunities and we keep exploring what suits us but we have to see whether it makes any sense in terms of strategy point of view, access to customers, and better solutions to the existing and potential customers. If these criteria get fulfilled, we will definitely not shy away from it. Like we did with Jayhawk, we will always look at it. However, this can’t be done for the sake of it. For any such move, we have to be guided by strong logical reasons.  

Sustainability is increasingly critical. How is it embedded in your product development and value proposition? 

Sustainability is integral to our decision-making. Nearly two-thirds of our electricity consumption now comes from renewable sources such as solar and wind. We voluntarily disclose Scope 2 and Scope 3 emissions, even where not mandated. Whether it is adopting continuous processes, flow chemistry, or localising supply chains to reduce transportation emissions, reducing environmental footprint is a key criteria when we evaluate new products, customers, or technologies. 

As Anupam Rasayan approaches 50th year, what milestones and long-term vision do you have? 

A key near-term priority is the successful integration of recent acquisitions into the Anupam Rasayan ecosystem. Beyond that, our focus is on building a strong, integrated platform across chemistries, technologies, and end markets. Long-term vision is to evolve into a truly global multinational partner for innovators worldwide, across agrochemicals, pharmaceuticals, and performance materials while creating sustained value for customers, employees, and shareholders.

December 19, 2025

Aamer Ahmed Farid, Managing Director, Ducol Organics & Colours in an exclusive interview with Pravin Prashant, Executive Editor, Indian Chemical News talks about industry trends, company's performance, focus areas, leveraging Bitumag's product, capacity expansion, and future products keeping in view sustainability. Excerpts of the interview: 

2026 industry trends in paints, coatings, plastics, inks, textiles, and construction industries?

As we look ahead to 2026, the direction of industries are becoming increasingly clear. In paints and coatings, the global shift towards water-based and low-VOC systems continues to accelerate, supported by regulatory requirements and growing customer preference for cleaner and more durable colour systems. This has increased the importance of advanced dispersions where particle size control, stability, and compatibility play a critical role. 

In plastics, the focus is steadily moving toward recyclability, lightweighting, and value-engineered additives that enhance performance without compromising sustainability. Inks and textiles are also evolving rapidly, with greater adoption of digital and high-speed applications where dispersion consistency becomes essential. 

The construction chemicals sector, particularly in India, is witnessing a long-term growth cycle driven by infrastructure and real estate development. Demand for waterproofing systems, polymer-modified chemistries, and hybrid materials continues to rise. Across all these industries, the common trend is a move towards cleaner, efficient, and functional chemistry, which aligns closely with our long-term strategy. 

How has Ducol Organics & Colours Ltd. performed in H1 FY 2025-26 and what's the forecast for H2 FY 2025-26?

H1 FY26 has been an important period for us, as it marks our first consolidated performance following the acquisition of Bitumag Industries. Our revenue from operations for H1 FY26 stood at Rs. 64.52 crore, supported by healthy volume momentum in our core dispersion business and the incremental contribution from Bitumag’s waterproofing and construction chemicals segment. EBITDA for the period was Rs. 5.80 crore, while profit after tax stood at Rs. 2.82 crore. 

Operationally, the integration of Bitumag has progressed well. During the half year, we commissioned a new manufacturing line at the Vadodara facility, effectively doubling its waterproofing capacity. Current utilisation levels are around 30 to 35 percent, and we expect this to move towards 50 percent over the next six to nine months as order visibility improves and customer synergies deepen. 

For H2 FY26, the overall demand environment remains stable. We expect continued momentum across our key application areas and will remain focused on improving utilisation, operational efficiency, and profitability. 

The company is focusing on three pillars - Expanding product offerings and geographic footprint, deepening customer engagement, and driving sustainable growth through strategic initiatives. Please explain?

These three pillars reflect our long-term approach to building a resilient organisation. Expanding our product offerings and geographic footprint is aligned with the increasing sophistication of the Indian market. Customers today expect deeper chemistry, stronger technical engagement, and reliable access across regions. Along with strengthening our presence in metros, we are actively investing in growing our business and market share across North, East, and West India. 

Deepening customer engagement is critical because dispersions directly influence the customer’s final formulation. Even small changes can have a significant impact on performance. By working closely with customers, we are able to deliver higher consistency, better efficiency, and more predictable outcomes. 

Driving sustainable growth is about creating a strong foundation for the future. This includes modernising our manufacturing facilities, strengthening leadership depth, investing in technology and systems, and expanding into adjacencies such as waterproofing and construction chemicals through Bitumag, while remaining firmly rooted in chemistry-led value creation. 

How has the acquisition of Bitumag Industries helped Ducol Organics & Colours to expand its product portfolio and geographic footprint?

The acquisition of Bitumag has strengthened our presence in the waterproofing and construction chemicals segment, which is experiencing sustained growth. It adds a complementary product portfolio, experienced technical capabilities, and customer relationships that align well with our existing dispersion business. 

From an operational standpoint, the impact is already visible. In H1 FY26, we commissioned a second manufacturing line at the Vadodara facility, which doubled Bitumag’s waterproofing capacity. Utilisation currently stands at around 30 to 35 percent, and we expect it to cross 50 percent in the coming months as customer synergies deepen. Several of our long-standing dispersion customers are also users of waterproofing products, which is helping drive natural traction. 

In addition, we are actively looking at overseas markets and expanding our business with existing international customers, while also adding new customers and entering new geographies. This approach allows us to scale Bitumag's product portfolio in a measured and sustainable manner while strengthening our global presence. 

The company is planning an ongoing modernization in plants with top grade and latest technologies and high end machinery for wet and dry dispersions and master batches. Please explain?

Our modernisation initiatives are focused on improving precision, consistency, and long-term efficiency. The M1 unit at Mahad was designed with PLC-based systems and advanced dispersion technology. Today, around 30 to 40 percent of our production comes from automated processes, which improves batch uniformity, material utilisation, and process safety. 

We are also integrating digital quality control systems and inline monitoring tools to strengthen process control. These upgrades support efficient scaling while maintaining consistency and quality. In parallel, refurbishment of the Taloja plant is underway, and work on the second unit at Mahad has already begun as part of our long-term manufacturing roadmap. 

Present and future capacities of wet dispersions, dry dispersions, master batches, and Bitumag? When are you planning to add these capacities?

As per our current operating structure, we have approximately 4,000 MTPA of wet dispersions capacity, 15,000 MTPA of dry dispersions capacity, and between 2,000 and 3,000 MTPA of masterbatch capacity. Bitumag’s waterproofing capacity stands at around 10 million square meters, supported by the recently commissioned additional line. 

Over the next five years, we plan to scale wet dispersions between 8,000 - 10,000 MTPA, dry dispersions between 20,000 - 25,000 MTPA, and masterbatches between 8,000 - 10,000 MTPA. Capacity expansion at Bitumag will be aligned with utilisation levels and demand visibility, and additions will be phased in a disciplined manner. 

Plan for developing two manufacturing units in Mahad in FY 2026-27 and Capex to be incurred in these plants?

Mahad is a strategically important manufacturing location for us due to its industrial ecosystem and access to skilled manpower. The M1 unit has already been commercialised, and work on the M2 facility is currently in progress. Both units are being developed with modular layouts, automation readiness, and energy-efficient systems. These facilities will significantly strengthen our ability to scale dispersions and support emerging chemistries. Alongside this, we are upgrading our Taloja plant with modern infrastructure and machinery to ensure our legacy facilities remain aligned with our long-term manufacturing vision. 

On the R&D front, what are the new things you are focusing on keeping sustainability at the centre?

Our R&D efforts are focused on delivering better performance while reducing environmental impact. We are strengthening our work in water-based and low-VOC dispersions, high-performance pigment systems, and next-generation construction chemical formulations, including polymer-modified, and hybrid waterproofing products. 

We are also working to improve pigment utilisation efficiency, reduce waste in dispersion processes, and integrate digital tools into formulation and quality control workflows. Looking ahead, we are exploring areas such as advanced materials, performance additives, and chemistries relevant to clean air, clean water, and clean energy, all of which align naturally with our core capabilities.

December 10, 2025

December 09, 2025

In an exclusive interview with Pravin Prashant, Executive Editor, Indian Chemical News, Manish Kumar, Vice-Chairman, Moscow Chamber of Commerce, Indian Commission; and President, Soltex Group shared insights on Indo-Russian trade imbalance, deeper collaboration, fertilizer MoU, untapped opportunities, hydrogen, ports & shipping, and skilled manpower. Excerpts of the interview: 

India and Russia have set a target of US $100 billion in annual bilateral trade by 2030. Given the current imbalance, India’s imports from Russia stand at US $63.8 billion whereas exports stand at US $4.9 billion. How realistic is this goal and how can we achieve it? 

Earlier, we wondered how we would ever reach US $20 or $30 billion in trade, but the geopolitical landscape has changed rapidly. Today, the target has shifted to US $100 billion. The real challenge, however, is the trade imbalance as India exports only about US $5 billion to Russia. To realistically move towards US $100 billion, the Indian business community must take a proactive approach and actively explore emerging opportunities. 

The recent visit of President Vladimir Putin, along with nine ministers, shows Russia’s strong interest in engaging with India’s economy. Now it is India’s turn. Our businesses must decide whether they want to stay hesitant because of sanctions or actively engage with Russia. Without the participation of the Indian industry, this target cannot be achieved. Increasing crude oil imports alone will not solve the problem. India must expand its exports in organic chemicals, speciality chemicals, technical textiles, food products, processed food, and many more. Services and skilled manpower should also be considered. If Indian companies look seriously at all these areas, achieving the US $100 billion target becomes possible. 

Keeping in view the US sanctions on Russia, how do you see the current situation for India? 

There is information circulating that the US has now softened or toned down certain aspects of the sanctions, that’s today’s news. Ultimately, this comes down to political will, and our leadership has made it clear that India’s national interest comes first. With a population of 1.5 billion, energy security is absolutely critical for us. We understand the geopolitical dynamics but India cannot be singled out. If Europe is buying more oil and if the US itself is indirectly sourcing Russian oil, why should India be pressured? It feels discriminatory that barriers are being created to dissuade India from doing business, especially in oil, gas, and petrochemicals. There are many opportunities in this sector, as I have explained earlier, and I don’t think India should reduce oil imports from Russia. 

But beyond oil, there are many other industries such as lubricants, base oils, and numerous products, where Indian companies can engage with Russia. What’s needed is stronger communication between the two governments and industry bodies to ease the processes on both sides. At this point, one cannot complain about lack of finance or logistics; the real gap has been communication. 

A common question arises is why did it take so long for India and Russia to expand their economic relationship, given the long-standing friendship between the two countries? 

India and Russia have been close friends for a long time but the cooperation remained largely in the defence and nuclear sectors. On the business side, despite ideological alignment, Indian companies did not adapt well to Russian business norms and work culture. That is why Indian companies lagged behind, even as American and European companies, large and mid-sized, were successfully doing business in Russia. To succeed, we must understand their culture, their systems, and adapt accordingly. 

How can the Indian chemical fraternity benefit from deeper collaboration with Russia? 

The chemical industry must recognize that Russia is extremely rich in petrochemical resources such as crude, natural gas, ethylene, and other key feedstocks. There are many intermediates and molecules where Indian companies can collaborate with Russian producers. So far, the main example is the Reliance–SIBUR joint venture for elastomers. But there is room for many more collaborations. Russia can supply raw materials for Indian refineries and polymer producers for products like hexane derivatives, phenol, maleic anhydride, methyl acrylate, glycerine, butanol, methyl ethyl ketone, and many others. These can be sourced at competitive prices, especially since Russia’s exposure to European markets has reduced. 

Indian companies can consider setting up projects in Russia, establishing joint ventures, or sourcing basic raw materials for value addition in India and then re-exporting to global markets. Even in pharmaceuticals, Russia can supply certain bulk drugs, for example, HSN hydroxy methyl compounds. There are many avenues for collaboration. 

What is stopping Indian companies, whether in chemicals, pharmaceuticals, or petrochemicals from engaging with Russian companies in a big way? 

The main issue is lack of accurate information. Perceptions have been created, especially by Western media, about Russia’s systems, stability, logistics, and finance. But the reality is different. Everything is functioning smoothly. After the recent visit, it is even clearer: three to four major Russian banks are already operating in India, enabling direct trade in rupees and ruble. There is no dependence on SWIFT or the US dollar. Logistics are working efficiently, shipments from Indian ports to Western Russian ports take about 20 days. Regular services operate between Saint Petersburg/Vladivostok and Indian ports like Nhava Sheva and Mundra. 

Insurance is available and end-to-end logistics services exist. There are no technical obstacles related to finance or transport. The real question is whether Indian companies are willing to engage, or whether they are unnecessarily worried about sanctions. The fact is, China is doing business with Russia. Turkey is doing business with Russia. Many others are too. So why not India? 

Following the recent MoU on joint ventures in the fertilizer sector, what commitments and timelines have been set for establishing fertilizer production units in Russia by Indian companies to ensure long-term supply security for India? 

The recent MoU and the joint declaration clearly indicate that major Russian companies are ready to partner with Indian firms. This means the projects will certainly move forward, but establishing fertilizer units requires detailed assessments and groundwork. Realistically, it may take one to two years for these projects to materialize on the ground. 

Beyond this MoU, several Russian regions have also approached us with offers involving existing fertilizer plants seeking Indian investors, particularly because they prefer Indian partners over Chinese investors. They want Indian companies to invest, modernize the assets, and secure long-term offtake agreements. India depends heavily on imports of fertilizers such as NPK, urea, and other nutrients. The opportunity is significant, and if any Indian company is interested, we can connect them with the right authorities and stakeholders in Russia. 

On sustainable fuel, how can India and Russia collaborate on hydrogen which is currently one of the hottest verticals? 

The world is clearly moving toward green technology and reducing carbon footprint is a global priority. Green hydrogen is a major focus area. Russia has strong technological know-how in green hydrogen and there are many areas where their expertise can help India fast track progress. With collaboration, both countries can shorten R&D cycles and accelerate deployment. It makes perfect sense. 

How can the Indian ports and shipping sector leverage MoU signed between India’s Ministry of Ports, Shipping and Waterways and the Maritime Board of the Russian Federation? 

Russia has a strong shipbuilding ecosystem across several regions. They have numerous shipbuilding units and decades of experience, India itself has earlier procured vessels from Russia. They possess valuable knowledge and technology that can support India’s efforts to expand port infrastructure and strengthen shipbuilding. The government’s focus on developing more ports aligns well with Russian expertise. With the MoU in place, Russian companies are ready to share their knowledge base, creating a win-win situation for both nations. 

How do you view the agreement of cooperation between the University of Mumbai, Lomonosov Moscow State University, and the Russian Direct Investment Fund (RDIF)? How will it help both countries? 

RDIF is one of Russia’s largest sovereign funds and played a key role in investments for the Sputnik vaccine. They are well-funded, have strong fundamentals, and are keen to work with Indian companies. Lomonosov Moscow State University has a tremendous scientific knowledge base, decades of research, innovation, and patents across carbon fibres, molecules, technical textiles, and more. Such institutional-level collaborations are extremely beneficial. However, I believe one such partnership is not enough. We need more collaborations across petrochemicals, defence, composites, metallurgy, and other sectors. 

Lastly, there is a labour shortage in Russia. How can India help in utilising these opportunities? 

India has strong capabilities in the services sector and in training skilled manpower. With initiatives like Skill India, the talent pool is growing. During the summit, Russia eased several migration norms. Earlier, migrant workers were required to know Russian language and history, which was unrealistic for short-term contracts. These norms have now been relaxed for Indian citizens. The quota system has also been expanded and more announcements are expected. 

Our group has already created a joint institute with a Russian organisation to train Indian professionals such as welders, for example, using Russian curriculum, standards, and even Russian welding machines are imported here for training. The same model will be used for robotics, drones, and other sectors where Russia needs skilled professionals. We train them in India and then facilitate their employment in Russia. So there are huge opportunities for skilled Indian manpower. 

In a nutshell, how do you see the India–Russia partnership moving forward? 

It is a win for both nations. We need deeper collaboration, more communication, and consistent engagement. As these efforts take shape, we will see concrete developments on the ground. This will not only strengthen bilateral relations but also help reduce the trade deficit and move us towards the target of US $100 billion in trade by 2030.

November 28, 2025

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November 26, 2025

November 25, 2025