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LEVERAGING SYNERGIES nies are no longer reacting to risk – they are lenges and proactive strategies within From predictive analytics in manu-
Praj and Thyssenkrupp Uhde to jointly offer managing their risks better. This progress the sector. facturing to AI-powered diagnostics
in healthcare, companies leveraged
is evident in the improvement showcased
Risk exposure increased from 61 AI to boost effi ciency and foresight.
polylactic acid technology by CIRI. This upward trend, despite in- in 2023 to 62 in 2024, due to global Yet, this adoption also introduced new
creasing challenges demonstrate a proac-
tive shift towards stronger risk mitigation supply chain disruptions, volatile raw vulnerabilities around data privacy,
Thyssenkrupp Uhde’s polymer spe- frameworks. We are seeing a shift toward material prices, and increasing regu- cybersecurity, and ethical governance.
cialists Uhde Inventa-Fischer (UIF), long-term resilience, where AI, sustain- latory pressures, especially around Many sectors responded proactively,
and Praj Industries, a Pune-based indus- ability and digital agility are now founda- sustainability and emissions stan- strengthening compliance frameworks
trial biotechnology solutions provider, tional to corporate strategy.” In line with dards. The petrochemical sub-sector and investing in AI-specific risk
have joined hands to off er an end-to- this shift, 2024 saw Indian corporates remains vulnerable to fl uctuations in mitigation.
end integrated technology for the pro- not just adapt, but excel across sectors, crude oil and natural gas prices, im-
duction of Polylactic Acid (PLA). with nine industries attaining ‘Superior pacting production costs. However, “The evolution of India’s risk
Risk Index’ status. Companies across risk management improved from culture is not just visible – it is trans-
PLA, as a sustainable alternative pharmaceuticals, healthcare, manufac- 61 in 2023 to 63 in 2024, indicating formative,” said Mr. Aroop Zutshi,
to conventional plastics, holds signi- turing, embedded resilience into their that companies are actively mitigat- Global President and Managing Part-
fi cant potential in advancing a circular core strategies, turning volatility into ing risks through strategies like sup- ner, Frost & Sullivan. “We are seeing a
bioeconomy. Praj and UIF are lever- an opportunity for transformation. ply chain diversifi cation, investment decisive shift from reactive risk man-
aging their combined expertise in in- in digital technologies, and greener agement to proactive risk intelligence,
dustrial biotechnology and chemical Chemicals & petrochemicals practices. Advances in AI, automa- where anticipation, agility, and strate-
engineering to enhance PLA techno- In 2024, the chemicals & petro- tion, and sustainable chemical R&D gic foresight are now core to business
logy, ensuring effi cient, cost-eff ective From L to R: Dr. Pramod Kumbhar, President and Chief Technology Offi cer at Praj Industries; chemicals sector saw an increase in have helped companies optimise resilience. Sectors such as Pharmaceu-
and sustainable production processes. Dr. Ashvini Shete, Business Head – Biopolymers at Praj Industries; Udo Mühlbauer, Head of its overall risk index, rising from 56 in operations and comply with stricter ticals, and manufacturing are leading
Ms. Nadja Håkansson, CEO of Thys- R&D at Uhde Inventa-Fischer (front); Stefan Bartz, VP Sales at Uhde Inventa-Fischer (back) 2023 to 61, refl ecting higher perceived environmental regulations. this transition, embedding risk think-
senkrupp Uhde, said, “Uhde’s PLAneo future. Our strategic partnership with tion process from feedstock conversion risks. This was driven by a slight rise ing at the boardroom level and redefi n-
process can now be off ered as an inte- Uhde marks a signifi cant step in driving to polymer production. Diff erent grades in both risk exposure and risk manage- Artifi cial Intelligence (AI) emerged ing resilience as a source of competi-
grated solution with Praj’s lactic acid the global shift toward a circular eco- of lactic acid can be produced from this ment scores, signalling evolving chal- as the most defi ning trend of 2024. tive advantage for India Inc.”
production. Together, we can design nomy by enabling cost-eff ective bio- technology which fi nd applications in
and deliver complete PLA plants. Our manufacturing and the establishment of food and industrial sectors. PARTNERSHIP
joint vision is a competitive solution to biorefi neries. With our award-winning Colorcon inks exclusive marketing deal with Asha
replace conventional plastics with sus- proprietary Planera-technology and Praj recently inaugurated India’s fi rst-
tainable alternatives.” this collaboration, we aim to tackle the of-its-kind ‘Demonstration Facility for Cellulose for its ethyl cellulose products
challenges posed by fossil-based plas- Biopolymers’ near Pune, where it is pro-
Dr. Pramod Chaudhari, Founder tics and contribute to a more sustainable ducing lactic acid and lactide. This facility Colorcon, a US-based supplier of water-insoluble, in the cellulosic polymer
Chairman, at Praj: “Praj’s Bioprism port- planet with innovative, bio-based solu- will serve as a crucial platform for testing fi lm coating systems, speciality exci organo-soluble thermo industry for more than
folio for renewable chemicals and mate- tions.” The partnership will be able to and validating the joint off ering, enabling pients, controlled release formulations and plastic cellulose 25 years. Our partner-
rials, with a focus on bioplastics, under- off er an end-to-end integrated techno- the partners to showcase the potential of controlled atmosphere packaging for the ethers that serve as ship combines an impres-
scores our commitment to a sustainable logy, covering the entire PLA produc- PLA and accelerate its commercialisation. healthcare industry, has announced an binders, fl exible fi lm sive product portfolio,
BROAD TRANSFORMATION exclusive partnership with Asha Cellu- formers, taste-mask- recognised leadership in
lose, a Mumbai-based provider of
controlled release multi-
ing and time-release
Indian corporates sharpen approach to risk manage- organo-soluble ethyl cellulose polymers agents, rheology modifi ers, etc. particulate applications and regula-
widely used in the pharmaceutical and  Ashakote – a 30% aqueous disper-
tory excellence, helping our customers
ment: ICICI Lombard CIRI 2024 dietary supplement industries. sion of ethyl cellulose, suitable for achieve success in drug delivery.”
sustained release, taste-masking
Indian enterprises are not just survi- has sharpened its approach to risk with to geopolitical instability, economic slow- As a part of this multi-year partner- and moisture control, and used in Mr. Raju Shah, President, Asha
ving turbulence – they are building a CIRI score of 65 in 2024, up from 64 downs, AI disruption, and domestic uncer- ship, Colorcon will become the exclu- regions where organic solvents are Cellulose, added, “With this partner-
systems to thrive in it. The fi fth edi- in 2023, signalling optimised risk tainty – including the lead-up to national sive representative for the following not acceptable. ship, we are confi dent that the unique
tion of the Corporate India Risk Index handling across sectors. elections. Mr. Sandeep Goradia, Chief Asha products throughout Europe, the combination of our polymer expertise
(CIRI) 2024, developed by ICICI Corporate Solutions, International, Bancas- Middle East, Africa, Northeast Asia Mr. Kurt Fegely, Vice President of and Colorcon’s technical prowess and
Lombard in partnership with Frost & This uptick refl ects a broader transfor- surance, ICICI Lombard said, “This year’s and Southeast Asia: Excipient Technologies at Colorcon, customer reach will help us serve our
Sullivan, reveals that corporate India mation in how businesses are responding fi ndings clearly show that Indian compa-  Ashacel – a family of multifunctional, commented, “Asha has been a leader customers better.”

148 Chemical Weekly May 20, 2025 Chemical Weekly May 20, 2025 149

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