New Delhi, Jan 15 || Indian chemical companies should transform into global-scale institutions by pivoting from quantity-based metrics to solving chemistry problems for customers, a report said on Thursday.
A new report from Boston Consulting Group (BCG) urged chemical companies to integrate into capex super cycles early to capture returns in the 2030s, along with many other recommendations to improve growth.
With the domestic market projected to exceed USD300 billion by 2030, incremental growth is no longer sufficient, the report said.
India’s chemical sector has delivered two decades of strong growth and world-leading shareholder returns, it noted.
“India’s chemical industry is at a decisive inflection point. 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,” said Amit Gandhi, Managing Director and Senior Partner, and India Lead for Chemicals at BCG India.
It asked companies to scale cash from the boring parts of the value chain and decide how much to invest in core value pools.