The journey to becoming the leaders in Indian Chemicals industry
In recent years, the rapid pace at which India has witnessed and undergone urbanization is simply remarkable. Even the remote areas of the country have tasted urbanization leading to new growth avenues and overall GDP growth of the country. One sector that has contributed a lot in this process is Indian Chemical industry. What makes the process even better is the fact that Indian Chemical companies have been focusing on sustainable development. Indian chemical companies are largely investing in innovative solutions to find appropriate answers to challenges related to environment. Chemical industry is also offering new products according to the changing requirements of the market.
Today, we are going to discuss one such company – Jeevan Chemicals – that is today one of the leaders in Specialty Chemicals Industry. The overall journey of Jeevan Chemicals has been challenging yet exciting in all forms. They began their journey with first generation entrepreneurs Mr Sonir Shah (MD of Jeevan Chemicals) and Mrs Ashita Shah with the commitment to drive sustainable development and generate a positive impact with its business. They made a humble beginning with manufacturing of surfactants for Crop Protection formulations. Then they gradually diversified their range of products and now they have strong foothold in Specialty Chemicals market. They are ISO 9001:2015,Halal, Kosher certified & having range of Reach Registered & EPA approved products in the Specialty chemicals landscape.
Owing to their outstanding service over the years, Recently, they have been honored with one of the most coveted FICCI Chemicals and Petrochemicals Awards 2022 for “Excellence in Exports” in Chemicals by FICCI (Federation of Indian Chambers of Commerce and Industry) and Graded as “CRISIL SME 1”, the highest ranking for creditworthiness by CRISIL (Credit Rating Information Service of India Limited) 2022. They have also been conferred with the honor of Export Excellence Award by Pesticides Manufacturers & Formulators Association in 2019 and one of the leading SMEs of India 2021 by Dun & Bradstreet. This has enabled them to enrich their client base and market penetration.
Driving sustainable growth in the chemical industry
As regards geographies, they now have a strong customer base & are exporting their products to Japan, Europe, South Korea, China, Vietnam and North America. Innovation is the key factor that is leading to their phenomenal growth. Be it products, technology, processes or systems, they passionately innovate around all these facets to drive sustainable growth in this industry. “Innovation is the foundation of our existence and is part and parcel of our business & routine. This habit of ours is the driving force behind our vision and mission. Success is the by-product of this habit of ours”, asserts Mr Sonir Shah. The passion and drive to independently start a business has always been on the front.
This is only because of people such as Mr Sonir Shah and Mrs Ashita Shah that the chemical sector has witnessed substantial growth in the last 5 years. The major growth drivers behind India’s chemical industry being Structural advantage, growing disposable incomes, increasing urbanization, High domestic consumption, Diversified industry with substantial presence of downstream industries in all segments and Promising export potential. India already has a strong presence in the export market in the sub-segments of Agro-chemicals, pharmaceuticals and cosmetics. India’s chemical story is one of outperformance and promise. However, it was not a cakewalk; pandemic has been a major hurdle in the last couple of years. It was challenging to stay indoors and keep the factory operations up & running.
Despite all odds and tough situations, Jeevan Chemicals delivered consistently and outperformed their targets. “Further, our adaptability and flexibility to evolve has enabled to stay steadfast and cater to our clients’ ever-increasing and ever-changing expectations or demands. Our approach is a blend of being contemporary and futuristic”, adds Mr Shah.
Firm belief in “Walk the talk”
When it comes to the goal of the company, it aims to be the leader in targeted niche sectors in the Chemical industry and become a 250 Cr company by 2025. They have already started manufacturing agrochemical formulations and have obtained necessary regulatory permissions from the government to manufacture agrochemicals active ingredients. This year, they plan to introduce a wide range of Specialty aldehydes & ketones in the flavor& fragrance industry. They also have plans to launch Pharmaceutical intermediaries based on specialty ketones. Their long-term goal is to be a listed Company.
To fulfill these goals, they have designed vision and mission cards which encompasses core values and all the team members wear them close to their hearts at all times as it is a part of their attire boldly embedded on their Identity cards. Besides, it also reflects in their actions and words that they communicate not just with internal customers but also their external customers. They believe in “walk the talk”. To make things happen, they don’s shy away from taking ideas that emanate from the experience of their clients. They have a practice of obtaining client feedback which they follow diligently, which has helped them in arriving some of the very great ideas.
Another rich source is their own team which is not just their R&D team but even others who can think creatively. To reiterate, they have an inclusive team culture which enables others to submit their ideas any time and every time. Also, the relentless commitment towards product innovation for clients and client-servicing has enabled them to reach where they are today. Their drive and passion for sustainable growth with clear customer focus has made it possible. Their approach is a blend of being contemporary yet futuristic. This has paved the way for progression in all forms and areas. “For others who wish to set off in a similar direction, one advice would be to stay focused & never give up”, he advises.
A consistent value creator, the Indian chemical industry remains an attractive hub of opportunities and it even remained so in an environment of global uncertainty like pandemic. Worldwide trends affecting the global chemical industry could lead to near-term opportunities for chemical companies in India. “In short, opportunities and potential are huge and we are fully poised to capitalize on all sorts of opportunities”, he concludes.