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Beyond the Chemical Industry: Building India's Molecular Transformation Capability

Part I: The Case for a Molecular Economy  India wants to build a chemical industry worth close to $1 trillion by 2040. The ambition is not fanciful. The NITI Aayog, in a recent report titled "Chemical Industry: Powering India's participation in Global Value Chains", released on 3 July, has projected that India's chemicals market, valued at around $220 billion in 2023, could reach roughly $400-450 billion by 2030 and $850 billion-1 trillion by 2040. It has also identified several structural constraints: dependence on imported feedstocks and speciality chemicals, inadequate common-user infrastructure, logistics inefficiencies, regulatory complexity, and shortages of skilled talent. The Union government has now begun putting physical infrastructure behind the ambition. On 24 July, it approved the BHAVYA Rasayan Scheme that provisions ₹3,030 crore to establish three dedicated chemical parks, with central assistance of up to ₹1,000 crore per park. The parks are envisaged a...
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From Enterprise Relationships to Technology Portfolios: A New Strategy for Indian IT

1. Indian IT Does Not Need Another Crisis Response For much of its history, the Indian IT industry has demonstrated a remarkable ability to respond to technological and market disruptions. The industry has repeatedly adjusted its service offerings, acquired new capabilities, retrained employees, entered new technology domains, and changed its delivery models as the global technology landscape evolved. This adaptability has been one of its greatest strengths. But adaptability can become a weakness if it is reduced to a succession of reactions. The technological environment facing IT companies today is changing at a pace and with a breadth that makes repeated, crisis-driven adaptation increasingly risky. Artificial intelligence is only the most visible part of this change. Computing architectures are evolving, chips and chiplets are changing, AI models are proliferating, enterprise software is being transformed, edge computing is expanding, data-centre architectures are becoming more spe...
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