Next phase of chemical industry growth needs to be in collaborative mode: BASF CEO

These were some of the observations made by Dr. Markus Kamieth, CEO, BASF SE, and President, International Council of Chemical Associations (ICCA), while speaking at the 61st Annual Awards Presentation Function of the Indian Chemical Council (ICC), the apex national body representing the Indian chemical sector, in Mumbai on September 11, 2026.

‘BASF will aim to grow faster than the market’

Dr. Kamieth also reiterated BASF’s strong commitment to India, adding that the company will aim to grow faster than the market in India, energised by the opportunity the country presents. He described India as one of the engines of global development, adding that the skilled workforce in the country is amongst its greatest advantage. “It is crucial that women are greater participative in the sector,” he added.

Referring to the challenging global ecological stability to chemicals, with rising uncertainty and trade barriers, he stressed that countries that attract the talent and focus on innovation and execution will be ones that will thrive. India, he added, has a rare opportunity to build a manufacturing ecological stability by incorporating design principles that combine manufacturing strength and sustainability.

Dr. Kamieth underscored the importance of predictable policies, world-class infrastructure, innovation, and sector-academia collaboration in creating a globally competitive manufacturing, innovation and export ecological stability.

“There is no strong manufacturing economy without a strong chemical sector,” he stressed.

‘Aim to greater self-reliance’

Mr. Tejveer Singh, Secretary, Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilizers, Government of India, outlined key priorities to India’s chemical sector particularly greater self-reliance, in the wake of several global trade challenges. He also called to increased R&D investments by sector, while noting that the government on its part will focus on providing the much needed infrastructure and streamlined approvals to enable reduce production costs and raise competitiveness.

Mr. Singh also highlighted recent government initiatives, including 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 importance of sustainability, he urged the chemical sector to implement detergent and greener practices, leverage available support to 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., noted that India faces an unprecedented opportunity window that it must leverage. “The pace of decarbonisation is accelerating however competition is also intensifying,” she remarked.

‘Collaborative approach to build global chemical leadership’

Mr. Samir S. Somaiya, Chairman & Managing Director, Godavari Biorefineries Ltd., who took over as President, ICC, noted that the opportunity in India’s chemical sector extends well beyond meeting domestic consumption.

“India will consume significantly greater chemicals as our economy grows. The question is: will we simply import a larger share of what we consume, or will we build the capabilities to manufacture greater of it ourselves and, importantly, create items that the world wants to buy from India?”

He stressed that the “ambition cannot only be import substitution. It has to be value creation. We need to ask where India has the ability to build scale, where we can apply methodology, where we can move up the value chain and where we can create globally competitive businesses.”

India, he added, needs to develop its own competitive model – one that combines scale and methodology with the country’s unique resources and capabilities, including natural and agricultural resources.

Lifetime achievement awards

ICC also presented its Lifetime Achievement Awards to three individuals to 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 to regulation of sector.” Prof. Ashutosh Sharma, Institute Chair Professor, IIT Kanpur, was awarded the ‘ICC D.M. Trivedi Lifetime Achievement Award to Education & Research.’

Earlier in the day the 17th Annual Seminar on ‘Recognizing Excellence of Performance in Various Facets of Chemical sector’, 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.