Vivek Kumar Jain

Category winner: Business Transformation

A harbinger of opportunity for the Chemicals industry

Vivek Jain turned around the fortunes of the Indian chemicals industry with Gujarat Fluorochemicals (GFL). In his 30 years in the industry, Vivek has turned the flagship company of his group into a leading world class manufacturer of advanced materials including fluoropolymers (FPs), fluorospecialities and refrigerant gases.

The IIM Ahmedabad and St. Stephens, Delhi alumnus, founded GFL as a refrigerant manufacturer in 1989. In 2007, with his agile decision-making and ability to take bold strides, he anticipated a shift in trend and increased demand from a different sector and diversified GFL to manufacture FPs, which are used in diverse applicationsꟷ electronics, aerospace, automobiles, medical and chemical processingꟷ a truly transformational move.

Vivek has a keen understanding of priority areas that will define the future of advanced materials. This is the driving force behind his continued investment in R&D and developing tailored FP applications such as those used in lithium-ion batteries and semiconductors. Just as his keen anticipation led to business transformation in 2007, Vivek is once again taking advantage of emerging opportunities. He is focused on Green Hydrogen, battery chemicals, and new FPs globally and has strengthened his global network via warehouses and wholly-owned subsidiaries even as R&D is centred in India. 

Committed to optimizing efficiency and creating value, in FY22, Vivek utilized the strong global recovery in demand to overcome the challenges of high input costs and supply chain uncertainties, driving the company to a revenue growth of around 50% year-on-year to reach INR3,954 crores in FY22. 

A powerhouse business leader, Vivek has steered through many challenges and built a successful narrative around innovation and integration.