Mitsubishi Chemical Group has unveiled plans to enter India’s semiconductor and electric vehicle (EV) supply chains, strengthening its foothold in the country. The company aims to leverage partnerships to establish a significant presence in these high-growth industries, aligning with its long-term strategic vision.
Strategic Expansion in India’s Growing Market
President and CEO Manabu Chikumoto emphasized the company’s commitment to supporting the semiconductor and EV sectors by developing a dedicated project. Although the company has not yet finalized a location for the project, Mitsubishi Chemical is actively engaging with stakeholders to explore potential opportunities.
Chikumoto stressed the importance of collaboration with the Indian central and local governments to facilitate the company’s expansion. He acknowledged India’s aggressive push to develop its semiconductor industry, which offers Mitsubishi Chemical a valuable opportunity to integrate into the growing ecosystem.
Aligning with Carbon-Neutral and Green Technologies
Mitsubishi Chemical’s expansion aligns with its management strategy that prioritizes carbon neutrality and green technologies. The company seeks to integrate sustainable solutions into India’s supply chain, reinforcing its commitment to environmental responsibility.
Mitsubishi Chemical has a long-standing relationship with India, particularly through its past operations in West Bengal. Previously, the company operated MCC PTA India (now MCPI) before transferring ownership to The Chatterjee Group (TCG). Chikumoto acknowledged the invaluable support received from various stakeholders during difficult times and highlighted MCPI’s continued growth post-acquisition.
Strengthening India’s Lithium-Ion Battery Ecosystem
As part of its broader commitment to India’s supply chain, Mitsubishi Chemical has already taken steps to bolster the country’s lithium-ion battery ecosystem. In April 2023, MU Ionic Solutions Corporation (MUIS), a subsidiary of Mitsubishi Chemical, signed a contract with Neogen Chemicals Limited. This agreement granted Neogen Chemicals a production technology license for manufacturing lithium-ion battery electrolytes in India.
This partnership aims to fortify India’s supply system for lithium-ion battery electrolytes, ensuring a stable supply chain for the country’s rapidly expanding EV market. As India accelerates its transition toward electric mobility, Mitsubishi Chemical’s contribution will enhance domestic manufacturing capabilities and reduce dependency on imports.
Government Backing and Industry Growth Potential
India’s government has actively encouraged foreign investments in the semiconductor and EV industries through incentives and policy reforms. Mitsubishi Chemical’s strategic entry into these sectors aligns with the government’s broader vision. Of transforming India into a global manufacturing hub.
The company anticipates strong demand for its advanced materials. And chemical solutions as India scales up semiconductor production and EV adoption. By establishing a local presence. Mitsubishi Chemical positions itself to cater to emerging needs while fostering innovation within the supply chain.
A Long-Term Vision for India’s Industrial Growth
Mitsubishi Chemical’s expansion into India signals a long-term commitment to strengthening the country’s industrial ecosystem. The company intends to work closely with local partners, leveraging its expertise to drive technological advancements.
By integrating into India’s semiconductor and EV supply chains. Mitsubishi Chemical not only strengthens its business operations but also contributes to the country’s economic and technological progress. The company remains optimistic about India’s growth trajectory. And seeks to play a pivotal role in shaping its future industrial landscape.
