JULY 20258ADANI TO CHALLENGE RELIANCE WITH MASSIVE PVC PLANT BY FY2028GODREJ TOOLING EXPANDS FOOTPRINT IN INDIA'S FAST-GROWING EV MANUFACTURING SECTORIn a significant step for India's petrochemical industry, Adani Group plans to commission 1 million tonne per annum (1 MTPA) PVC plant at Mundra, Gujarat by FY2028, directly competing with Reliance Industries in the Indian PVC space.India's annual PVC demand is 4 MTPA, but domestic production is only 1.6 MTPA. With this move, Adani aims The electric vehicle (EV) market in India is growing fast, and domestic production is rising to meet the increasing demand. The tooling division of Godrej Enterprises Group has become the key facilitator of this transformation with an increasing share of EV-related orders leading to 1015 percent of its revenues in the three-year past.to develop its position, decrease import reliance and meet rising consumption in agriculture, infrastructure, housing, and packaging.The planned plant will manufacture PVC, chlor-alkali, calcium carbide and acetylene within Adani's larger ambitious Mundra petrochemical cluster. The units will be on an acetylene and carbide process route. The project had a temporary suspension in 2023 prior to commencing construction in September 2023 after verification of parameters by various financial advisors.The project had faced a temporary halt in 2023 amid financial scrutiny, but with over $5 billion in new equity and debt raised, Adani has resumed operations with full regulatory clearances.This strategic positioning now places Adani, with respect to PVC production capacity directly competing with Reliance, which is currently at a lower production capacity and targeting a doubling PVC capacity by 2027.Adani's logistics integration, port access and trading will be a key competitive advantage. The new PVC project at Maidira is anticipated to scale up to 2 MTPA in project phases, further establishing the Adani presence in India's developing petrochemical industry. To align with this demand, the Mumbai-based conglomerate has expanded its tooling capabilities to produce precision dies and components for EVs, including battery boxes and sheet metal parts. Backed by 2­3% annual revenue investments in R&D and advanced machinery, the division is helping to strengthen India's precision tooling ecosystem.India's EV sector logged 1.96 million units sold in FY25, with a 28% year-on-year growth in May 2025 alone. This surge has intensified the need for localized, high-precision automotive components. Pankaj Abhyankar, Business Head of the tooling division, said, "We aim to reduce import dependence while improving production timelines and cost efficiency for manufacturers."The company currently caters to Tier 1 and Tier 2 auto suppliers transitioning to EV component production. A few tools that were previously imported are also being investigated for domestic production with an eye toward future exports. These initiatives are directly related to the automobile industry's import substitution goals and India's "Make in India" policy.Godrej is collaborating with a broad industry trend by retooling India's automotive distribution network for a cleaner future through localized innovation and strategic capabilities creation. TOP STORIESTOP STORIESTOP STORIES
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