Japan’s Mitsubishi Chemical Group interested in entering semiconductor and EV supply chain markets in India

Mitsubishi Chemical Group, the largest integrated chemical company of Japan, is interested in entering the semiconductor and electric vehicles supply chain markets in India to expand its presence.

The group is looking to tie up with partners to enter the markets, which have huge potentials to grow in the country.

“We have a Polypropylene (PP) business for all commodities in Neemrana (in Rajasthan) and an industrial gas business in Pune. And, also we have some compounding business in Gujarat. Those are the production sites so far in India. But we are trying to find out some occasions to come to this market again to expand our existence together with some partners,” Manabu Chikumoto, Director of the Board, President and CEO, Mitsubishi Chemical Group, said on Wednesday in Kolkata.

Chikumoto was talking to reporters on the sidelines of an event organised by The Bengal Chamber of Commerce and Industry to felicitate him. Purnendu Chatterjee, Chairman, The Chatterjee Group, was present at the occasion.

Discussions on

“We have so many semiconductor supply chain products,” Chikumoto said, adding the group has already started “some discussions” for the proposed new ventures in India.

The group has not yet identified the places for the new projects to manufacture semiconductor and EV supply chain products. And, investment for the proposed greenfield projects would depend on the products.

The Indian government was very keen to expand semiconductor business in the country, Chikumoto said, adding the group would need support from the Central and local governments for any greenfield projects.

“I have been deeply impressed by the technological innovations in areas such as semiconductors and outsourcing in India,” he added.

“It is important to have global corporate leaders, like Manabu Chikumoto, visiting Bengal to accelerate its potential in manufacturing. As the chemical industry is reported to have a projection of reaching ₹6,324 billion by this year, Bengal may leverage the opportunity. Chemical Industry’s significance stands out due to its diversified supply chain with multiple other sectors,” said Arnab Basu, President, The Bengal Chamber.