With nearly three decades in the lubricants industry, Samvar Mavani has led the transformation of a family-run business into a professionally managed organization at the forefront of innovation. From pioneering synthetic oils in Indian cement plants to developing indigenous alternatives for critical steel applications, his journey reflects the power of R&D, resilience and visionary leadership. In this Spotlight interview, he shares insights on industry shifts, sustainability and what it takes to shape India’s lubricants future. Focus on creating long-term value rather than chasing short-term wins. Can you share your professional journey and what inspired you to enter the lubricants industry? I began my professional journey in 1996, shortly after completing my studies in instrumentation engineering and management. At that time, our company was a small, family-run business primarily serving the textile machinery sector. Over the years, we transformed it into a professionally managed organisation, steadily expanding into automotive, oil & gas and other industrial segments. My entry into the lubricants sector was more by inheritance than design, as I joined the family business soon after completing my studies. However, what began as a responsibility quickly turned into a passion. The industry is highly technical and application-driven, which meant I was constantly challenged to learn and adapt. Each customer requirement brought with it a unique problem to solve whether related to machinery performance, extreme operating conditions or sustainability concerns.   What milestones stand out as turning points in your career? One of my proudest milestones came in 2006, when we secured our very first order for synthetic oil from a leading cement plant in North India. We supplied a 320 grade synthetic gear oil for a raw mill, replacing the mineral oil that had been in use. It was a breakthrough moment – not only because it marked our entry into synthetic lubricants on a large scale, but also because it gave us the confidence that an Indian manufacturer could successfully deliver solutions that had previously been dominated by international brands. More recently, I take pride in having developed an Indian alternative to a Japanese grease for a critical application in a steel plant. It was a technically demanding project and its success reaffirmed our ability to innovate and create world-class solutions from within India.   Could you share some recent innovations or projects you’re particularly proud of? In recent years, I have been particularly proud of our work in developing high performance solutions that have (at times) surpassed the European or Japanese specialty products. A notable example is a grease we formulated as a replacement for a Japanese product used in a highly critical steel plant application. It required significant investment in R&D, extensive testing and close collaboration with the customer’s technical team. The success of this project not only strengthened customer confidence but also demonstrated that indigenous solutions can meet and even surpass demanding global benchmarks. We have also been working on advancing our testing capabilities by investing in rheometers, tribometers and custom-built rigs. These tools allow us to simulate real-world conditions and accelerate the development of high-performance lubricants. While these projects are less visible to the outside world, they form the backbone of our ability to innovate consistently.   How has the lubricants industry evolved over the past decade? Over the past decade, the lubricants industry has shifted decisively towards high-performance and speciality products and I believe this trend will only accelerate. Customers are increasingly evaluating lubricants on the basis of total cost of ownership, which means that performance attributes such as extended drain intervals, energy efficiency and reliability will become even more critical. We are also seeing the gradual adoption of advanced grease thickener technologies such as calcium sulphonate complex and polyurea, which are likely to displace traditional lithium-based products in several demanding applications. Sustainability will play a much larger role in the years ahead – PFAS-free lubricants are already well established for exports to Europe and biodegradable formulations, though currently niche is poised to expand as regulations tighten and awareness grows.   What emerging technologies will shape the next five years in lubricants, greases and industrial fluids? The next five years will be very exciting for our industry, as several emerging technologies begin to move from discussion to practical adoption. Nano-based lubricants and additives, for example, have long been spoken about but have not yet reached commercial scale. I believe we will start seeing meaningful progress here, with nano-additives helping to enhance load-carrying capacity, reduce friction and improve energy efficiency. Biodegradable and bio-based lubricants will also gain momentum. Although they will remain a relatively small share of the market initially, growing regulatory pressure and customer demand for sustainable solutions will accelerate their acceptance. Similarly, PFAS-free products, already becoming standard for European exports, will increasingly become the norm across industries. On the grease side, we can expect a stronger shift towards calcium sulphonate complex and polyurea thickeners, as industries look for higher performance and more robust alternatives to lithium. Alongside these product innovations, digitalisation will also play a key role – condition monitoring, predictive maintenance and smarter application tools will ensure lubricants are not just high-performing, but also used more intelligently.   Sustainability in lubricants will be as much about educating people and improving practices as it will be about chemistry.   How do you see sustainability influencing lubricants in India? Sustainability is beginning to influence the lubricants industry in India, but I believe its impact will become far more pronounced in the years ahead. In terms of formulation, we are already seeing a gradual move towards PFAS-free products and the early adoption of biodegradable and bio-based alternatives. While these remain niche today, increasing regulatory pressure and customer awareness will ensure they play a larger role going forward. Usage practices are also evolving. Customers are now placing greater emphasis on lubricants that extend drain intervals, reduce re-lubrication frequency and improve energy efficiency -all of which contribute to lowering the overall environmental footprint. Perhaps the biggest challenge however, lies in disposal. In India, used lubricants are often

India’s energy landscape is characterized by stark dependencies that underscore the urgency of regulatory reform. India has an 82.8% import dependence for crude oil and 45.3% for natural gas, creating significant vulnerability to global supply disruptions and price volatility. Against this backdrop, India’s crude oil production stood at 19.88 MMT during April-January 2025, representing a marginal contribution to the country’s massive energy requirements. The regulatory framework governing this critical sector had remained largely unchanged since independence, with the rules seeking to replace the outdated Petroleum Concession Rules, 1949 and Petroleum and Natural Gas Rules, 1959. This 76-year regulatory lag had created substantial inefficiencies in India’s upstream sector, necessitating comprehensive reform. Regulatory Architecture and Modernization The Draft Petroleum and Natural Gas Rules 2025 represent a fundamental shift from concession-based regulation to a more investment-oriented framework. The revised Model Revenue Sharing Contract (MRSC) reflects the new operational and fiscal realities of the sector, indicating a move toward more flexible commercial arrangements. Key analytical observations include: Structural Transformation: The rules consolidate multiple regulatory instruments into a unified framework, reducing compliance complexity and administrative overhead. This consolidation addresses a critical inefficiency where operators previously navigated multiple, often conflicting regulatory requirements. Investment Incentivization: The new framework incorporates specific provisions designed to attract both domestic and foreign investment, recognizing that India’s upstream sector requires substantial capital infusion to achieve production targets. Technology Integration: Modern technological standards are embedded within the regulatory framework, enabling operators to deploy advanced exploration and production technologies without regulatory impediments. Comparative Analysis:1949-1959 vs 2025 Framework The transformation from the legacy framework to the 2025 rules reveals significant philosophical and practical shifts: Scope Expansion: While the 1949 and 1959 rules focused primarily on concession allocation and basic operational requirements, the 2025 framework encompasses comprehensive lifecycle management, including environmental considerations, technology standards and international best practices. Commercial Flexibility: The legacy framework operated on rigid concession models with limited flexibility for changing market conditions. The 2025 rules introduce dynamic commercial arrangements that can adapt to evolving market realities. Regulatory Efficiency: The new framework emphasizes regulatory efficiency through streamlined approval processes, reduced bureaucratic layers and clearer timelines for regulatory decisions. The 2nd edition of Urja Varta 2025, India’s premier upstream oil and gas conclave, was held today at Bharat Mandapam, New Delhi. The most significant announcement at Urja Varta 2025 concerned India’s future investment trajectory. Minister Puri highlighted that India has invested over ₹4 lakh crore in energy infrastructure over the past decade and projected an investment of ₹30–35 lakh crore over the next ten years. This represents a 750-875% increase in investment intensity, indicating the government’s commitment to transforming India’s energy landscape. Sectoral Growth Projections Refining Capacity Expansion: Indian refining capacity has increased from 215.1 MMTPA to 256.8 MMTPA in last 10 years and is projected to increase to 309.5 MMTPA by the year 2028. This 20.5% projected increase in refining capacity by 2028 indicates significant downstream expansion that will require corresponding upstream development. Natural Gas Consumption Growth: Natural gas consumption is predicted to increase at a CAGR of 12.2%, from 174 MCMPD in 2021 to 550 MCMPD by 2030. This 216% increase in natural gas consumption over the decade creates substantial opportunities for domestic production enhancement. Engineering and Construction Services The projected investment of ₹30-35 lakh crore will have multiplicative effects on India’s engineering and construction sector. Historical analysis suggests that every rupee invested in upstream oil and gas typically generates 2.5-3 rupees in engineering and construction activity, implying a potential ₹75-105 lakh crore opportunity for the construction sector. Technology and Digital Services The emphasis on technology integration within the new regulatory framework is expected to drive substantial demand for digital oilfield services, advanced seismic technologies and data analytics capabilities. This could potentially create a domestic market worth ₹2-3 lakh crore over the next decade. Financial Services Impact The massive investment projections will require sophisticated financial instruments and risk management products. The banking and financial services sector is expected to develop specialized products for upstream oil and gas financing, potentially creating a new sub-sector within energy finance. Strategic Challenges and Opportunities With India’s current 82.8% crude oil import dependency, even modest improvements in domestic production could have significant economic impact. A 10% improvement in domestic production could reduce import bills by approximately $15-20 billion annually, based on current consumption patterns and crude oil prices. Technology Transfer and Skill Development The new regulatory framework’s emphasis on technology adoption creates opportunities for technology transfer and domestic skill development. The projected investment levels suggest potential employment generation of 2-3 million jobs across the value chain over the next decade. Environmental and Transition Considerations The rules must balance conventional hydrocarbon development with India’s net-zero commitments by 2070. The framework’s flexibility allows for integration of carbon capture and storage technologies, potentially positioning India as a leader in sustainable hydrocarbon development. Strategic Implications for India’s Energy Future The PNG Rules 2025 represent a inflection point in India’s energy policy, addressing decades of regulatory inertia while positioning the country for substantial upstream sector growth. The projected ₹30-35 lakh crore investment over the next decade, if realized could fundamentally transform India’s energy security profile and reduce import dependencies. The success of this regulatory transformation will depend on effective implementation, continued policy support and the ability to attract and deploy capital efficiently. The scale of projected investment suggests that India is positioning itself not just as a major energy consumer but as a significant player in global energy production and technology deployment. For industry stakeholders, the new framework offers unprecedented opportunities for growth and innovation while for policymakers, it provides a robust platform for achieving energy security objectives. The true test of these reforms will be their ability to translate regulatory modernization into tangible improvements in India’s energy security and economic competitiveness. Author is part of the team organizing Lubricant India Expo & Summit 2026, South Asia’s only specialized exhibition on Lubricants, Additives and base oils. Analysis based on official government announcements, industry data and regulatory documents as of July 2025. Investment

As global momentum builds towards decarbonization, the shipping industry in the Indian subcontinent must prepare to align with the increasingly stringent environmental regulations set by international bodies. The International Maritime Organisation (IMO) and the European Union have both outlined aggressive carbon reduction targets including net-zero emissions by 2050. While maritime shipping is still one of the most carbon-efficient modes of transport (contributing just 3% of global CO₂ emissions), there’s significant pressure and opportunity to go further. Marine lubricants, specifically those made from re-refined base oils (RBOs), offer an impactful and often overlooked solution. Why South Asia Needs to Pay Attention India, Bangladesh, Sri Lanka and Pakistan are home to some of the busiest ports and critical maritime routes in the world. India alone handles over 95% of its trade by volume through maritime transport. With the region’s growing involvement in international shipping and its vulnerability to climate change, the stakes are high. Adopting greener practices, including re-refined lubricants could not only reduce emissions but also position South asia’s ports and ship operators as leaders in sustainable shipping. Re-refined Base oils: A Practical, Low-Carbon Option As explained by Tommi Jarvinen, Commercial Director at Avista Green, a leading Danish re-refiner, marine lubricants derived from re-refined base oils can cut CO₂ emissions by up to 85-90% compared to traditional virgin base oils. Just consider this: a single ocean-going vessel can use up to 2,000 liters of marine cylinder oil per day. Replacing this with RBO-derived oils can have a direct and measurable impact on a ship’s carbon footprint and shipping companies’ ESG performance. These oils are produced by recycling waste oils collected from previously-used lubricants – creating a closed-loop circular economy instead of the traditional linear model of “use and dispose.” Challenges in the South Asian Context Despite the environmental and economic advantages, perception remains a barrier. In many parts of India and South Asia, re-refined oils are still viewed as “inferior” or “black oils,”. This stigma persists even as global research and practical performance data prove otherwise. Another challenge is used oil collection infrastructure. According to Avista Green’s Vladimir Dhondt, more than 50% of used oil worldwide is not re-refined, largely due to collection inefficiencies. In India for example, the un-organized nature of the lubricant recycling sector leads to wastage, improper disposal and lost value. To truly adopt a circular model, companies across the supply chain -from lubricant blenders to shipping companies must collaborate to ensure waste oil is collected, returned, and re-used. The role of government policy and public-private partnerships will be critical here. Market Trends: Lessons from Europe for South Asia The global market saw a surge in demand for RBOs when Russian-origin base oils were removed due to sanctions. This led to a sharp spike in virgin oil prices showcasing the strategic value of local, circular oil supply chains. For South Asia, which heavily imports base oils, developing local re-refining capacity could shield the region from such price volatility and geopolitical risk. Conclusion: The Time is Now As South Asia continues to grow as a global shipping hub, it must take bold steps to future-proof its maritime sector. Investing in re-refined marine lubricants is not just good for the planet but it makes economic and strategic sense too. By shifting mindsets, improving collection systems and embracing circular practices, we can drive real progress in maritime sustainability. Let’s champion the circular economy for marine lubricants in South Asia. The oceans and our future depend on it. Author is the Director of the team organizing Lubricant India Expo & Summit 2026, South Asia’s only specialized exhibition on Lubricants, Additives and base oils. Lean more at www.lubricantindia.com.

India’s lubricants market represents one of the world’s most dynamic growth opportunities, driven by rapid industrialization, automotive expansion, and emerging technological sectors. The market is projected to reach $9.7 billion by 2030, growing at a compound annual growth rate of 4.4-5.1%. While traditional automotive applications remain dominant, several emerging segments such as EV, defence, renewables etc. are demonstrating exceptional growth potential, fundamentally reshaping the industry landscape. Current Market Dynamics India’s lubricants market demonstrates remarkable resilience across multiple dimensions, with volume consumption estimated at 3.17 billion litres in 2025. This growth trajectory is underpinned by several converging factors including rapid urbanization, industrial expansion under government initiatives, and evolving automotive technologies. The Indian industrial lubricants market is expected to reach $20.7 billion by 2033, expanding at a CAGR of 4.12%, indicating substantial underlying demand across manufacturing and industrial applications. India’s growth trajectory becomes even more compelling when viewed against Southeast Asia’s lubricants market evolution. While Southeast Asia demonstrates strong growth in electric vehicle manufacturing and renewable energy infrastructure, India’s market offers greater scale and diversity across traditional and emerging applications. The complementary nature of these markets presents opportunities for companies to develop integrated regional strategies. Key Emerging Growth Segments Automotive Lubricants: Traditional Dominance with Emerging Complexities Automotive applications represented 58% of market revenue in 2024, maintaining their position as the largest consumption segment. The India automotive lubricant market was valued at $6.94 billion in 2024 and is expected to reach $11.39 billion by 2030 with a CAGR of 8.61%, indicating exceptionally strong growth potential. This growth is driven by multiple factors including increasing vehicle ownership, commercial vehicle expansion, and the emergence of new drivetrain technologies. The automotive segment’s evolution includes growing demand for high-performance synthetic lubricants, extended drain interval products, and specialized formulations for turbocharged engines and hybrid systems. Aerospace and Aviation: The Fastest-Growing Segment The aerospace lubricants segment is expected to grow at the fastest-growing CAGR over the forecast period, with the Indian aviation industry recording 165 million domestic passengers. This segment represents a premium opportunity characterized by high-value, specialized products with stringent performance requirements. The aerospace segment’s growth is driven by India’s expanding aviation infrastructure and the development of indigenous aircraft manufacturing capabilities. Marine and Coastal Applications India’s extensive coastline and growing maritime trade create substantial opportunities in marine lubricants. The segment encompasses shipping, coastal transportation, fishing fleet operations, and offshore energy activities The growth in India’s port infrastructure development and increasing maritime trade volumes support sustained demand growth in this segment through 2030. Industrial and Manufacturing Lubricants The industrial segment represents the fastest-growing volume opportunity, driven by government manufacturing initiatives and industrial automation trends. Recent partnerships, such as Gulf Oil Lubricants’ collaboration with SCHWING Stetter India, demonstrate growing demand for premium hydraulic oil, engine oil, axle oil, gear oil, and other industrial lubricants for construction machinery. Construction and Infrastructure: Heavy machinery lubricants for ongoing urbanization and infrastructure development projects Manufacturing Equipment: Precision lubricants for automated production lines and CNC machinery. Power Generation: Specialized lubricants for thermal, renewable, and distributed power generation systems. Hydraulic Systems: High-performance hydraulic fluids for industrial automation and mobile equipment. Electric Vehicle and Hybrid Technologies While India’s electric vehicle adoption is in early stages compared to Southeast Asia’s rapid 50% growth in EV sales, the segment presents significant future opportunity. Electric vehicles require specialized lubricants for transmissions, thermal management systems, and battery cooling applications. The emergence of hybrid technologies creates additional complexity, requiring lubricants that can handle both traditional combustion engines and electric drive systems within the same vehicle platform. Defence and Strategic Applications India’s defence modernization programs and indigenous manufacturing initiatives create demand for specialized military-grade lubricants. Market Composition Evolution By 2030, the Indian lubricants market will likely demonstrate significantly different composition compared to current patterns. While automotive applications will remain the largest segment by volume, several emerging segments will capture disproportionate value shares: Aerospace Applications: Expected to represent 8-12% of market value by 2030, driven by aviation sector expansion and premium product adoption. Industrial Automation: Projected to grow to 25-30% of market volume, supported by manufacturing sector growth and automation adoption. Specialized Applications: Marine, defence, and emerging technology applications collectively representing 15-20% of market value. Technology-Driven Transformation The lubricants industry will experience fundamental transformation driven by several technological trends: Synthetic and Bio-based Formulations: Increasing adoption of synthetic lubricants offering extended service life and superior performance characteristics. Smart Lubricants: Integration of condition monitoring technologies and IoT-enabled predictive maintenance capabilities. Sustainability Requirements: Growing demand for environmentally friendly formulations and circular economy solutions. Industry executives are particularly bullish about the specialized segments. Senior market analysts note that “advances in equipment and machinery technologies are also likely to augment” the growth trajectory, highlighting the importance of technological evolution in driving demand for premium lubricant solutions. Leveraging Lubricant India Expo for Business Growth The Lubricant India Expo serves as a critical platform for industry stakeholders to explore emerging technologies and establish strategic partnerships. Industry participants consistently highlight that “Lubricant Expo has provided a great opportunity for companies to build these partnerships” and “offered a valued opportunity to get in personal contact with many grease & raw material suppliers in a condensed setting.” The expo’s role extends beyond traditional networking, serving as a technology showcase where companies can: Technology Discovery: Explore cutting-edge lubricant formulations, synthetic base oils, and advanced additive technologies that address emerging market requirements across aerospace, marine, and industrial automation applications. Partnership Development: Establish strategic alliances with international suppliers, technology providers, and distribution partners to accelerate market entry and expansion across India’s diverse regional markets. Supply Chain Optimization: Connect with raw material suppliers, base oil manufacturers, and specialty chemical providers to build resilient supply chains that support growing demand across multiple segments. Market Intelligence: Gain insights into regulatory developments, sustainability requirements, and emerging customer needs that will shape the industry’s evolution through 2030. Innovation Collaboration: Identify opportunities for joint research and development initiatives, particularly in specialized applications like electric vehicle lubricants, aerospace formulations, and bio-based alternatives. The expo’s comprehensive conference program provides valuable insights into market trends,