Global Industry Captains Deliberate on Geopolitics, Competitiveness and the Future of the Chemical Industry
Geopolitical Disruptors
Speaking at the 19th Annual Indian Chemical Council’s Industry Outlook Conference & Exhibition (11th and 12th March 2026). Marco Mensink, Director General, European Chemical Industry Council (ECIC), in his keynote address, highlighted the growing impact of geopolitical disruptions on the global chemical industry. Referring to developments in Iran and tightening transport routes, he cautioned that potential disruptions to oil and gas supplies could significantly affect energy prices, feedstock availability, and global trade flows in the weeks ahead. He also pointed to emerging policy frameworks and renewed momentum on international trade agreements, including closer engagement with India, as signals of a more industry-friendly approach.
The conference organised by The Indian Chemical Council (ICC) brought together global industry leaders, policymakers, and thought leaders to chart the future course of the chemicals sector. Organized annually, this conference serves as the most important annual platform in India for dialogue within the chemical and petrochemical sector. This year’s conference was centred around the theme “Shaping a Competitive and Resilient Chemical Industry for India”.
The inaugural session of the conference witnessed addresses by global industry leaders such as, Marco Mensink, Director General, European Chemical Industry Council (CEFIC), Brussels, Belgium; Dr. Claus Rettig, Interim CFO, Evonik Industries AG and President Asia Pacific, Singapore; Sven Smit, Senior Partner, McKinsey & Company; Christian Guckel, Global Head of Verticals Chemicals and Energy, Siemens, Germany and Haryono Lim, President – Mega Projects Asia, BASF, Guangdong, China.
Strategies and Response to Geopolitical Challenges
Dr. Claus Rettig, in his keynote address spoke on how MNCs Respond to Geopolitical Shifts towards Business Agility and Competitiveness and how multinational corporations are recalibrating strategies amid changing trade equations and regulatory environments. He emphasized that free trade agreements will play a decisive role in shaping the competitiveness of the chemical industry, as world-scale chemical plants often rely on access to multiple markets, highlighting the EU–India Free Trade Agreement in this context.
Navigating Headwinds
Sven Smit, spoke on “Future of the Global Chemicals Industry in the Light of Macroeconomic Headwinds”, examining structural challenges, capital allocation, and long-term demand outlook. He emphasized that businesses are navigating a period marked by energy transitions, supply-chain reconfiguration, and technological disruption and companies will need to invest in innovation, diversify supply chains, and build greater operational resilience to remain competitive in an increasingly fragmented global landscape. He also pointed that these shifts present significant opportunities for emerging economies such as India, which can play a larger role in global manufacturing, innovation, and supply chains.
AI and Innovation will Help
Christian Guckel deliberated on “Building Global Competitiveness in Chemicals Industry amid Geopolitical Shifts”, highlighting how digitalisation, artificial intelligence (AI), and global collaboration will shape the future competitiveness of the chemical industry. He emphasised that trade agreements alone will not guarantee success; companies must invest in innovation, advanced technologies, and data-driven optimisation to remain competitive.
The China Example
Haryono Lim, President – Mega Projects Asia, BASF, Guangdong, China, in his Keynote Address offered perspectives on large-scale project development and Asia’s evolving manufacturing ecosystem. He highlighted BASF’s strategic expansion in Asia through the development of its new integrated chemical production site in China, one of its largest investments, in the company’s history. The speaker also emphasised the importance of collaboration with government and regional stakeholders in transforming the site from undeveloped land into a major chemical manufacturing hub serving one of China’s most dynamic economic regions.
In his opening remarks Kamal P. Nanavaty, Chairman, Conference and Exhibition Expert Committee, ICC and President – Strategy Development, Reliance Industries Ltd, set the context for discussions at a time of rapid transformation in global supply chains and trade dynamics.
Ramya Bharathram, President, ICC & MD & CFO, Thirumalai Chemicals Ltd, in her welcome address, shared her perspectives on the Indian chemicals industry, highlighting its growth trajectory, resilience, and emerging global opportunities.
Samir Somaiya, Vice President, ICC & CMD, Godavari Biorefineries Ltd, in his concluding remarks and vote of thanks for the Inaugural Session, highlighted valuable points delivered by each speaker.
Maharashtra CM Devendra Fadnavis Engages with Chemical Industry CEO’s
Outlines Vision for Maharashtra as a Global Chemical Hub
The highlight of the conference was the CEO’s Roundtable with Shri Devendra Fadnavis, Hon’ble Chief Minister of Maharashtra, who engaged with over 100 CEOs and senior leaders from the chemical and petrochemical industries. The interaction reflected strong alignment between industry and government on accelerating Maharashtra’s growth as a leading chemicals manufacturing hub.
The Hon’ble Chief Minister reiterated the Government’s commitment to strengthening the sector through:
- Improved ease and cost of doing business
- Time-bound and faster environmental clearances
- Stronger industry–academia collaboration
- Development of integrated chemical hubs with plug-and-play infrastructure
He emphasized that these initiatives will be critical in positioning Maharashtra as a globally competitive and investment-ready destination for the chemical industry.
Held under the theme “Shaping a Competitive and Resilient Chemical Industry for India,” the conference brought together senior global and Indian leaders with McKinsey & Company as the knowledge partners.
Discussions in the inaugural session and subsequent panels highlighted:
- The growing impact of geopolitical disruptions on energy prices, feedstock availability, and global trade flows
- The importance of free trade agreements in enabling scale and competitiveness
- The need for resilient, diversified, and future-ready supply chains
- Increasing adoption of digitalisation, artificial intelligence, and advanced technologies
The conference featured a series of high-level panel discussions focusing on:
- Global market shifts and China’s evolving chemicals landscape
- Margin improvement and value-focused growth strategies
- Identification of new growth engines across specialty chemicals, construction chemicals, biopharma, and green chemistry
- Strengthening infrastructure, logistics, and chemical parks
Industry leaders underscored that India is well-positioned to leverage ongoing global supply chain realignments and emerge as a key player in global manufacturing and innovation.
McKinsey & Company, the knowledge partners of the conference, made a detailed presentation on the Criticality of Chemicals Industry to India. Valuable points were made by Padma Vibhushan Prof. M. M. Sharma, Emeritus Professor of Eminence, Institute of Chemical Technology (ICT), Mumbai. Samir Somaiya, Vice President, ICC & CMD, Godavari Biorefineries Ltd and Jayant Dhobley, Addl Vice President, ICC & CEO, Global Chemicals, Aditya Birla Group, moderated the deliberations between Hon’ble Chief Minister and the CEOs. Other speakers included Bimal Goculdas, MD & CEO, DMCC Speciality Chemicals Ltd; Ravi Goenka, Executive Chairman & Whole-Time Director, Laxmi Organic Industries Ltd; Rajendra V. Gogri, Chairman & Managing Director, Aarti Industries Ltd.; and Alexander Gerding, MD, BASF India Limited, Head of BASF Group Companies in India.
“Platforms like the CEO Roundtable enable meaningful dialogue between policymakers and industry leaders, helping shape a shared roadmap for the future of the chemical sector,” said Ramya Bharathram President, Indian Chemical Council.
Whitepaper Launch
A key highlight of the Inaugural Session was the launch of the Whitepaper titled “From challenges to possibilities: Leading India’s chemicals industry through global headwinds” by McKinsey & Co.
There was focus on building a future-ready chemical industry, with sessions on:
- The transformative role of Generative AI in R&D and manufacturing
- A Start-up Bootcamp showcasing emerging innovations across biotechnology, advanced materials, and digital platforms
- Enhancing safety frameworks and operational excellence
- Advancing sustainability and pathways to net-zero emissions
Deliberations also highlighted the importance of talent development, diversity, and stronger industry – academia partnerships to address evolving skill requirements in a technology-driven landscape.
Over two days, the event reinforced ICC’s position as one of India’s most influential platforms for the chemical industry—enabling dialogue, fostering collaboration, and shaping the strategic direction of the sector amid a rapidly changing global environment.
