Theme: Driving Innovation and Growth in India’s Chemical Industry
“Chemistry is present in everything and everywhere. Chemistry is life”
– Prof. M M Sharma
“Innovation Drives Economic Growth” – Dr. Naushad Forbes
“Chemistry plays a Foundational role in shaping every Industry”
– Nadir Godrej
Delivering his keynote address at the Godrej Industries promoted second National Chemistry Day on 8th August 2025, Padma Vibhushan Prof. M M Sharma and former Director of UDCT (now Institute of Chemical Technology – ICT) in a scholarly and rivetting address, encapsulated the important and all pervasive role of chemistry in all aspects of life, industry and economy. He said that through chemistry the very genesis of life takes place. He began by mentioning the example of oxygen reacting with haemoglobin with a half-life of less than a million of a second in the human body. “Without this rapid reaction, life as we know would not have been possible,” Prof. Sharma remarked. Then he pointed to our exhalation of carbon dioxide at a high rate, when we exercise, made possible as one of the most outstanding examples of catalysis, through carbonic anhydrase, which accelerates the desorption of carbon dioxide. Having touched on the chemistries of breathing in and breathing out, Prof. Sharma went on to regale the audience with several examples of the role of chemicals and how it helps the economy, the industry, in healthcare, in farming, perfumery and so on. How the development of polyester, mobile phones, hollow fibre membranes for dialysis, disposable syringes and PSA helping during covid-19 pandemic, fertilisers and agrochemicals in agriculture were all enabled by chemistry were well outlined by Prof. Sharma. He marvelled at the role of Nature, which he said is the most innovative chemist providing a wide range of complex molecules useful for health and industry. Prof. Sharma also spoke of the advances in fermentation, which was also transforming the chemical industry.
Emphasising the crucial importance of R&D and innovation for a very science based chemical industry, Prof. Sharma advised chemical companies to create the position of Chief Innovation Officer and such officers and R&D chiefs, he emphasised should also be on company boards.
Foundational Role of Chemistry
Earlier Nadir Godrej, Chairperson, Godrej Industries Group, in his novel poetic style, extolled the growth of the knowledge intensive chemical industry. He said that chemical industry is the foundation for building an industrial nation as chemicals are the key for each and every industry. He remarked that Industry 4.0 digital technologies including AI will further catalyse the growth of the Chemical industry.
Commenting on the summit, Nadir Godrej, said,” Chemistry has always played a foundational role in shaping society. As we convene the second edition of National Chemistry Day, it is clear that meaningful, future-facing conversations are vital for unlocking India’s full potential in this space. This summit is our attempt to enable that – to spark dialogue, share ideas, and collaboratively explore how we can not only participate in the global chemical economy, but lead it responsibly and sustainably.”
In another keynote address, Dr. Naushad Forbes, Co-Chairperson, Forbes Marshall spoke on innovation and its role in global economic growth, the state of R&D in the India and some brief reflections on R&D in the Indian chemical and pharma sectors.
Only Innovative Companies Scale Great Heights
Quoting the growth and development of many countries and of huge corporates, he elaborated on how innovation was the principal driver of their economic success. Dr. Forbes lamented the meagre spending on R&D in India and emphasised that if India has to become a developed nation by 2047, innovation must play a large role and R&D must receive the due attention. He exhorted Indian industry to link up with Universities and public labs so that industry relevant research can happen. He pointed out that university based research had several valuable outcomes as the trained graduates who come out can provide long term benefits. Illustrating with one example on the poor R&D investment in India, Dr. Forbes said that the 25th largest R&D investor globally, Bosch spends more on R&D than the entire industry combined. He pointed to the higher profitability even of Indian firms, particularly in pharma, which spent more on R&D.
Fostering Knowledge, Collaboration and Innovation
An important point made by Amit Gandhi, Managing Director and Partner, Boston Consulting Group, in his presentation was the need to think differently in global strategy for Indian Chemical companies. He suggested that Indian companies shlould not only be R&D intensive but consider opportunities for buying chemical assets overseas, now available particularly in Europe, competitively priced.
Reflecting on the session and the overall summit, Vishal Sharma, Executive Director and CEO of Godrej Industries (Chemicals), said: “The exchange of ideas at this year’s summit revolved around a shared imperative — for India’s chemical industry to build resilience not just through cost competitiveness, but by fostering knowledge, collaboration, and innovation. What resonated most across the discussions was the clear consensus that India must move beyond being seen as a backend producer and step up to lead from the front. Whether it’s strengthening in-house R&D, embracing green chemistry, or nurturing the next generation of scientists and engineers, the conversations reflected a collective ambition to position India as a global hub for sustainable chemical manufacturing. It is this spirit of openness and shared purpose that will propel the sector forward.”
Sharing his thoughts on the summit’s impact and the path ahead for the industry, Burjis Godrej, Executive Director, Godrej Agrovet Ltd and Managing Director, Astec LifeSciences Ltd said, “Innovation in the chemical industry can no longer remain siloed within labs or R&D departments—it must become a mindset that runs across the entire value chain. What emerged clearly in today’s discussions was a shared understanding that we must move beyond incremental gains towards transformative shifts. Strengthening industry-academia linkages, accelerating digital adoption, and building diverse, cross-functional R&D teams are no longer optional—they are vital for sustained global competitiveness. Forums like this are crucial in aligning perspectives, surfacing bold ideas, and reinforcing the urgency for collective action. If India is to lead on the global stage, we must evolve from being efficient executors to becoming originators of sustainable, scalable chemical innovations.”
There were two panel discussions, the first one titled ‘R&D – A catalyst for India’s Chemical Industry Growth’ and the second, ‘Building Competitiveness in India’s Chemical Industry’. The first one was moderated by Vishal Sharma and the second by Burjis Godrej. The participants for the first one included: Aashish Kasad, Senior Partner, Ernst & Young, Vivek Save, Executive Director and Board Member, Deccan Fine Chemicals, Santosh J Gharpure, Dean (Faculty Affairs) and Professor, Department of Chemistry, IIT Bombay, Simon-Thorsten Wiebusch, Chairman, MD&CEO, Bayer CropScience Limited, Janak Nabar, CEO, Centre for Technology, Innovation and Economic Research (CTIER). And for the second one: Amlan Das, Country Manager and MD, Head, Syensqo India, Nitin Sharma, CEO and General Manager, Clariant IGL Specialty Chemicals Pvt Ltd, Dr. Alok Sharma, Director (R&D) and Board Member, Indian Oil Corporation Ltd, S Sunil Kumar, President, Henkel India.
Overall the gist of the panel discussion echoed the genral views on R&D, on the imperativeness to increase R&D spending in India, on how green chemistry is set to grow, on the less acceptance of home grown technologies, on the need for faster clearances for setting up projects, to integrate better with global value chains, tieups and collaborations with academia, R&D centres and industry, to brand and sell chemicals globally rather than as commodities.
Another highlight of this year’s summit was the launch of the inaugural edition of the CTIER Innovation Report titled “Industry in India: Followers or Leaders?” which provides a data-driven assessment of how leading Indian R&D firms compare to their global counterparts across critical innovation parameters.
