Pankaj Poddar says innovation is the key to Cosmo First’s global growth

“The time has come where we do not just replicate; we must innovate on our own,” says Pankaj Poddar, Group CEO of Cosmo First. Reflecting on the first month of 2026 and the buzz at the Bharat Mandapam, Poddar notes a robust domestic momentum, even as he observes a shift in international dynamics. For Cosmo, which maintains high exposure to the Americas and Europe, the “new world order” of shifting trade duties and geopolitical realignments is a backdrop for aggressive expansion. Poddar reveals that Cosmo is now opening an office in Mexico alongside its presence in Europe, the USA, Canada and Japan to further balance its global risk.

Cosmo has spent a decade building its US business into a critical vertical. Addressing the current duty situation, Poddar is pragmatic: “We are expecting US duties to come down, potentially from the current 55% to 18% in the coming days. This should be favourable for us. The high duties of the past months had slowed some developments, but customers are now quickly coming back to restart those projects.”

Polymer economics and the ROI gap

With input prices for HDPE, PP, and PE seeing recent drops of 8-13%, Poddar views the situation through the lens of supply chain efficiency. While lower prices helped curtail inventory costs recently, he warns that prices are on the rise again.

“India is largely self-sufficient at the moment, but we are growing at 10% year-on-year in polymer growth. If capacity is not boosted, we will face a shortage,” he notes. On the subject of investments, Poddar admits the capital expenditure for any expansion has virtually doubled since the pandemic. “On one side, machinery is more efficient, but the building, machinery and utility costs have spiked. This brings a mandate for efficiency; we must scale up speciality sales and curtail system waste to remain competitive globally.”

The R&D deficit: From copying to creating

Poddar believes that India’s growth must be driven by research. “Unfortunately, many companies are just trying to replicate what someone else has done. That’s not a story we should be creating,” he says.

Cosmo has invested heavily in its R&D capabilities, employing 35 specialists—many with global PhDs—to drive innovations across its four verticals. “Investment in R&D as a percentage of GDP in India is still smaller than global averages. We derive huge benefits from our R&D, and the industry must follow suit by collaborating with institutes and FMCG brands.”

Poddar believes that the current geopolitical climate, paired with the strategic Free Trade Agreements (FTAs) signed by the Indian government, has positioned the country to move beyond domestic supply to global leadership. “Polymer is the backbone of the industry. It is critical that India develops its own polymers so that various types of plastic materials can be manufactured and exported worldwide,” he explains.

Citing a specific untapped vertical, Poddar notes, “The global market for tape film is close to half a billion dollars, yet India barely has a presence and exports very little. Similarly, in drug delivery systems, India is a net importer, with 90% of demand met from abroad. There is a huge opportunity to reverse this and become a net exporter.”

Sustainability: The mono-material push

Three years ago, Poddar highlighted BOPP as the responsible material for food packaging. Today, he notes that while European and American markets are moving decisively toward mono-materials, India has seen a recent counter-trend.

“In general, India was moving in the right direction. However, of late, cost pressures have pushed some brands back toward multi-layer materials. I hope this trend reverses soon,” Poddar says. He maintains that PP and PE, being from the same family, remain the ideal sustainable path for a circular economy.

The road ahead: Waluj and beyond

Following the INR 400-crore investment in the 10.4-metre-wide BOPP line at Waluj, Cosmo is focused on scaling up its new capacities, including the world’s largest BOPP and CPP lines. The Waluj, Aurangabad factory continues to be the nerve centre for these innovations.

“Whether it is electrostatic discharge sheets for the electronics industry or ceramic coatings for automobiles, our R&D team has done phenomenally well,” Poddar says. “Now, we are not just working for India; we are producing for the world.”