As India aims to become a global hub for chip and battery manufacturing, chemical firms are strategically positioning themselves to capitalize on this growth. One such company is SRF Limited, a multi-business chemicals conglomerate with a diverse portfolio spanning fluorochemicals, specialty chemicals, packaging films, and technical textiles. With a strong presence in both industrial and specialty intermediates, SRF is uniquely positioned to cater to the burgeoning demand from both the semiconductor and battery sectors.
India's Ambitions in Chip Manufacturing
India is aggressively pursuing self-reliance in semiconductor manufacturing to reduce its dependence on foreign suppliers. The nation's semiconductor market is projected to grow from $52 billion in 2024 to $103.4 billion by 2030, driven by increasing domestic demand. To achieve this, the government is actively promoting the establishment of domestic fabrication plants and assembly units. Several companies are taking notice, including a joint venture between Foxconn and HCL Group, named India Chip Private Limited. Tata Electronics has pledged $10 billion to develop India's first chip fabrication plant. Additionally, Kaynes SemiCon is on track to become the first Indian company to deliver packaged semiconductor chips by October 2025.
SRF's Role in Semiconductor Manufacturing
SRF's specialty chemicals business develops and produces advanced intermediates for the agrochemical and pharmaceutical industries. These capabilities can be leveraged to supply high-purity chemicals essential for semiconductor manufacturing. The company has invested substantially in research and development, with over 300 patent applications filed in exotic and extreme chemistries. SRF operates multiple state-of-the-art flexible manufacturing facilities capable of producing a broad range of specialty chemicals.
India's Push for Battery Production
India is also focused on building a robust battery manufacturing ecosystem to support its electric vehicle (EV) and energy storage ambitions. The country's energy storage market is expected to reach 87 GW by 2035, a significant increase from 2024. Several companies are investing in battery and cell manufacturing, with planned investments totaling ₹43,300 crore. Companies like Nash Energy are launching fully automated prismatic battery pack manufacturing lines.
SRF's foray into the battery sector includes pioneering high-performance binders tailored for lithium-ion batteries. The company's expertise in fluorochemicals also positions it favorably to supply materials like electrolytes and solvents, which are crucial for battery performance.
Strategic Investments and Expansion
SRF has been actively investing in expanding its manufacturing capabilities. In July 2025, the company announced investments of ₹740 crores for new facilities in Gujarat and Madhya Pradesh. These investments include an agrochemicals production facility in Dahej, Gujarat, and a BOPP film manufacturing facility in Indore, Madhya Pradesh. These expansions will enable SRF to meet the growing demand from various sectors, including the battery and semiconductor industries.
Challenges and Opportunities
While India's ambitions in chip and battery manufacturing are promising, there are challenges to overcome. These include technological expertise, supply chain bottlenecks, and reliance on technology transfers. However, SRF's established presence in the chemical industry, its focus on R&D, and its strategic investments position it well to capitalize on the opportunities in these sectors.
By leveraging its expertise in specialty chemicals and fluorochemicals, SRF can play a vital role in supplying critical materials to both the semiconductor and battery industries, contributing to India's vision of becoming a global manufacturing hub.
