Rana highlights ExxonMobil's commitment to supporting Indian industries, particularly MSMEs, and emphasizes key product offerings that enhance efficiency and productivity
Vipin Rana, CEO of ExxonMobil Lubricants Pvt. Ltd., expresses optimism about the promising future of the Indian lubricants industry. In an interview with ET Edge Insights, he shares his outlook on the burgeoning Indian lubricant market, meeting the demands of MSMEs, and emphasises their key product offerings that fuel growth for Indian industries.
What are your thoughts on the Indian lubricant market?
India is the third-largest lubricant market globally and anticipates becoming the second largest by 2050. The growth of the lubricant industry is closely related to a country’s economic activity, and the Indian industry is in a promising place today, marking a definitive path for the lubricant industry’s growth. The surge in economic growth is primarily attributed to the increasing number of on-road vehicles, consequently driving up the demand for vehicle maintenance and lubricants. Indian industrial lubricants find pivotal application in the automotive and oil and gas sectors, which is expected to grow at a Compound Annual Growth Rate (CAGR) of around 7 per cent through 2025.
The growth isn’t solely dependent on the demographics of India; substantial productivity gains from technological innovation will also be instrumental. Manufacturing demand drives a large part of the lubricant industry. So, as the manufacturing equipment industry evolves to handle more intense manufacturing environments, it will require high-quality lubricants.
At MobilTM, we work directly with businesses to optimise their operations, increase their profitability, and boost efficiency, thereby enabling them to excel in business and achieve beyond expectations. Our product portfolio is driven towards improving our customers’ productivity and mobility aspirations.
What are your thoughts on the manufacturing sector?
The manufacturing industry in India is exhibiting remarkable potential and contributes 17 per cent to the country’s gross domestic product (GDP). This growth will continue as India doubles down on its goal of becoming a preferred manufacturing destination. Moreover, the rapid adoption of Industry 4.0 technologies presents exciting opportunities for the industry. Smart manufacturing, IoT integration, and data-driven decision-making are becoming integral to modern manufacturing processes.
For Mobil, the sector remains a key focus, and we are confident of its ability to support the country’s economic development. Duly, we are working directly with manufacturers to optimise their operations, increase their profitability, and boost efficiency, thereby enabling them to excel in their business and achieve beyond expectations.
What role do you see for MSMEs?
MSMEs constitute a significant part of India’s manufacturing sector and, indeed, the country’s overall GDP. As per official data, the share of MSME Gross Value Added (GVA) in India’s Gross Domestic Product (GDP) consistently hovers around 30 percent. As India focuses further on enhancing its manufacturing prowess, the profitability and efficiency of MSMEs will be key.
At Mobil, we have started appointing distributors in large manufacturing clusters to address the demand from MSMEs. These clusters comprise both large industries and MSMEs. Our goal is to actively engage with customers, foster brand affinity and advocacy, thus establishing longer-lasting relationships with them. Undoubtedly, MSMEs will play a bigger role in the years to come, and our partnerships with them will only strengthen and evolve.
Tell us about some key products that Mobil is bringing to the Indian industry.
We have come up with a range of offerings for the Indian industry, including hydraulic oils, diesel engine oils, cutting oils, etc. Our industry-leading Mobil DTE 10 ExcelTM Series comprises high-performance anti-wear hydraulic oils specifically designed to meet the needs of modern, high-pressure, industrial, and mobile equipment hydraulic systems. These oils have also been measured to provide up to a six per cent improvement in hydraulic pump efficiency. Similarly, our MobilcutTM Series, comprising a renowned line of high-performance cutting fluids and metalworking lubricants, has been engineered to meet the demands of modern machining and metalworking operations. These are just two of our many offerings for the manufacturing sector.
Along with products, we also focus on providing world-class services. Our Mobil ServTM Lubricant Analysis (MSLA) program is proving to be a gamechanger. This service provides guidance on state-of-the-art used oil analysis and has been designed specifically to simplify the lubrication monitoring process, increase the reliability of equipment, and lower maintenance costs. Along with MSLA, our Mobil™ Solcare Service app encompasses a range of solutions with a digitised coolant monitoring tool aimed at providing real-time findings powered by data-backed insights and customised recommendations. The app makes it effortless to gain access to critical data, saving time and giving users the chance to take preventative measures, shifting their approach towards proactive maintenance instead of reactive maintenance.
