Lubrizol Corporation, a global leader in specialty chemicals and a wholly-owned subsidiary of Berkshire Hathaway, has recently announced plans to more than double its operations in India during the next five years, as part of an aggressive new growth strategy. Having infused the country with about $350 million, this specialty chemicals company plans to double business in this region while it improves local workforce and capabilities.
The new GCC is expected to open in Pune shortly and has already employed 100 workers. Lubrizol intends to recruit another 250 professionals, thereby making a total of 850 people in India. It has long-term goals in mind of localizing its production, thereby increasing its market reach in India, where Lubrizol sees immense growth possibilities.
Lubrizol, for its talent acquisition strategy, has signed a Memorandum of Understanding (MoU) with Polyhose, where it would make medical tubing and expand production capacity in Chennai. Rebecca Liebert, President & CEO of Lubrizol, said that the company is confident about the Indian market. She feels that the growth potential in India is huge. “I have challenged the team to double our business here in five years,” she added. The market is encouraging and those who move with the speed and decisiveness shall succeed.” Lubrizol’s target of 20% annual growth in India aligns with its more ambitious objective of doubling the business by 2029—a goal Liebert believes could be achievable with the local expertise of the company as well as a dedicated workforce.
Lubrizol’s further investment in India comes after its previous $150 million investments in CPVC production, including the world’s largest CPVC resin plant built in Vilayat, Gujarat, in partnership with Grasim. These efforts indicate Lubrizol’s commitment to the Indian market as a key hub for manufacturing and innovation. This reflects growing confidence in the Indian economy, which is the long-term strategy of the company and crucial for expansion and sustainability in the global market.
As Lubrizol further strengthens its local presence, the company feels quite hopeful for the future. With its strategy of utilizing the best talent pool in India, Lubrizol hopes to increase operations and scale to match market demand. The company’s “Local for Local” approach is expected to foster deeper connections with Indian companies and customers, facilitating continued growth and innovation in the region.
