HPCL CMD Vikas Kaushal Emphasizes Startups and Innovation for India's Refining Sector

Hindustan Petroleum Corporation Ltd (HPCL) Chairman and Managing Director Vikas Kaushal has stated that innovation, digital technologies, and collaboration with startups will play a critical role in strengthening India's refining sector. Addressing the industry at the 29th Energy Technology Meet (ETM) 2026, Kaushal noted that the sector faces ongoing supply challenges that make the integration of technology an urgent necessity.

Kaushal pointed out that the expanded scope of the ETM platform now includes emerging areas such as compressed biogas (CBG) and platforms supporting startups and innovation. This expansion provides opportunities for collaboration and helps accelerate initiatives like the Govardhan scheme and MC Square, an innovation platform.

According to Kaushal, the MC Square platform is currently mentoring around 43 to 45 participants in its cohort, with several startups actively showcasing their solutions at the event. He added that digital-based startups working with data in innovative ways will help shape the next phase of development for the refining industry.

Highlighting HPCL's operational updates, Kaushal noted that the company commissioned a residue upgradation facility at its Visakhapatnam refinery earlier in the year. The facility achieves a conversion rate of 93%, enabling the deep conversion of the bottom of the barrel into diesel and other light distillates. He described it as one of the most complex technologies in deep conversion and stated that HPCL is currently working to optimize its operations.

Additionally, HPCL commissioned India's latest greenfield refinery during the year, which was inaugurated by Prime Minister Narendra Modi on July 4. Kaushal stated that the new refinery has a complexity index of around 17, marking it as the second-highest after Reliance Industries.

Reflecting on the broader industry landscape, Kaushal expressed confidence in India's refining capabilities, noting that Indian-trained professionals also operate refineries in regions such as the Middle East and Africa. He concluded that technology and innovation will remain vital as the sector continues to expand its capabilities and respond to changing supply conditions.

"The integration of startup innovation into traditional heavy industries like oil and refining marks a practical shift toward operational resilience. By leveraging platforms like MC Square and digital data solutions, legacy corporations can address complex supply chain challenges more efficiently. This collaboration between established public sector undertakings and emerging tech startups creates a balanced ecosystem that fosters localized problem-solving and long-term sector growth." — Dr. Shishir Gupta, Founder & CEO, StartupLanes