Insightful keynote by MD & CEO- Mr. Ravi Chawla at the 30th ICIS World Base Oils & Lubricants Conference, reinforcing that India continues to be one of the most attractive markets globally.
24 Feb 2026
It was an absolute privilege to deliver the keynote address on Day 2 at the 30th ICIS World Base Oils and Lubricants Conference in London recently - a premier global forum where industry leaders come together to exchange insights, drive strategic dialogue, and help shape the future of the sector.
As I shared my perspective on the high-growth lubricants market in India, I was honoured to address the conference alongside many global leaders and key decision-makers, sharing insights & highlighting the significant current & future potential of the Indian lubricants market. India continues to be one of the most attractive markets globally, supported by strong domestic consumption and rising income levels that are expected to drive growth over the next decade inspite of the growth of EV vehicles.
I also covered how expanding local base oil manufacturing capabilities and sustained infrastructure development are strengthening India’s position in the global value chain. At the same time, the automotive sector presents substantial untapped potential, further supported by a growing vehicle base and steady industrial activity. Notably, India remains one of the few large lubricants markets worldwide where volume growth is structurally supported, while value growth is accelerating through premiumization and the increasing adoption of higher specification & synthetic lubricants.
The conference provided a valuable platform to engage with global industry peers and participate in meaningful conversations that will define the next phase of growth for the Indian lubricants industry.
