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Japan’s largest integrated chemical company, Mitsubishi Chemical Group, is looking to enter India’s semiconductor and electric vehicle (EV) supply chain markets as part of its expansion strategy. The group aims to collaborate with local partners to tap into the countrys growing demand in these sectors. Speaking in Kolkata at an event organized by The Bengal Chamber of Commerce and Industry, Manabu Chikumoto, Director of the Board, President, and CEO of Mitsubishi Chemical Group, highlighted the company’s existing operations in India, which include a polypropylene business in Rajasthan’s Neemrana, an industrial gas unit in Pune, and a compounding business in Gujarat. “We are exploring opportunities to expand our presence in India and are in discussions for potential new ventures,” Chikumoto said. He added that the group has several semiconductor supply chain products and sees significant potential in India’s expanding semiconductor ecosystem. While the company has yet to finalize locations for its new manufacturing projects, Chikumoto emphasized that investments would depend on the specific products being developed. He also acknowledged the Indian government’s push to bolster the semiconductor industry, stating that Mitsubishi Chemical would seek support from both central and local authorities for any greenfield projects. Arnab Basu, President of The Bengal Chamber, noted the importance of such global corporate engagements, citing India’s chemical industry’s projected growth to ?6,324 billion this year. He stressed that Bengal could leverage this opportunity given the sector’s extensive supply chain integration with multiple industries. |
