Startups and Innovation to Drive India's Refining Sector: HPCL CMD
HPCL CMD Vikas Kaushal highlights the role of startups, digital tech, and innovation in shaping the future of India's refining sector.
The future of India refining sector innovation lies in the integration of digital technologies and strategic collaborations with startups. This perspective was shared by Hindustan Petroleum Corporation Ltd (HPCL) Chairman and Managing Director Vikas Kaushal during an exclusive conversation on the sidelines of the 29th Energy Technology Meet (ETM) 2026.
According to Kaushal, the necessity for innovation has become increasingly urgent due to ongoing supply disruptions and the continuous expansion of refining capacities across the country. He emphasized that the sector must move beyond its existing strengths to embrace a new phase of development driven by data and agility.
The Role of Startups and Digital Transformation
The Energy Technology Meet, a premier forum for India's downstream oil industry, has recently broadened its horizons. Kaushal noted that the event now encompasses emerging fields such as compressed biogas (CBG) and dedicated platforms designed to foster startup growth.
A key highlight in this push for modernization is MC Square, an innovation platform currently mentoring a cohort of approximately 43-45 participants. Many of these startups showcased their cutting-edge solutions during the event, demonstrating how data-driven approaches can solve complex industrial challenges.
Kaushal pointed out that digital-based startups, which approach data management differently than traditional corporations, will be instrumental in shaping the next evolutionary step of the refining industry. This collaborative ecosystem also helps accelerate government-led initiatives like the Govardhan scheme.
HPCL's Technological Milestones
While discussing the broader industry, Kaushal highlighted significant achievements by HPCL that underscore the company's commitment to high-complexity refining:
- Residue Upgradation Facility: Commissioned at the Visakhapatnam refinery earlier this year, this facility allows for the deep conversion of the "bottom of the barrel" into diesel and other light distillates. It boasts an impressive conversion rate of 93%, utilizing some of the most complex deep-conversion technologies available.
- New Greenfield Refinery: Inaugurated by Prime Minister Narendra Modi on July 4, this latest refinery represents a massive leap in capability. It holds a complexity index of around 17, making it the second-highest in the country, trailing only Reliance Industries.
Global Influence and Future Outlook
The CMD expressed strong confidence in the caliber of Indian expertise, noting that professionals trained in India are currently operating refineries across Africa and the Middle East, proving the global competitiveness of the nation's technical talent.
As the industry navigates changing supply conditions and expands its operational footprint, Kaushal believes that the synergy between established industry giants and nimble startups will be the defining factor in maintaining India's energy security and refining leadership.