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DuPont hopes to touch $1 bn in sales in India by 2012-end – and expand the food business
Sunday, November 25, 2012 11:31
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Hyderabad: DuPont, the diversified US industrial group, is hoping to be a billion-dollar company by sales in India by the end of 2012, amid tough macroeconomic conditions and a weakened local currency.
“It is a challenging environment, but I think the fundamental growth drivers remain strong,” said Rajeev Vaidya, president (South Asia) at EI du Pont de Nemours and Co. (DuPont), “and so we continue to believe that long-term growth in South Asia and growth in India will be there”…
…DuPont expects its food business, which includes seeds and crop protection, to be its major growth contributor in India, followed by its automotive and coating segments.
“If you look at per hectare production rate in India, there is still a fraction of what they are even when compared to other Asian countries like Vietnam and Thailand, for example, for rice. There is a lot we can do to increase farm productivity in India and so we have a great business,” Vaidya said, adding that DuPont is working on hybrid variants of corn, rice, pulses, millets and oilseeds.
Research and development (R&D) is another key area for the company in India, on which it spends an average $2 billion a year globally.
In 2008, the company set up its first R&D centre outside the US in Hyderabad, called DuPont Knowledge Centre, which works on agriculture biotechnology, crop protection, industrial biotechnology such as biomaterials and biofuels, and advanced material applications in high-performance polymers.
“We continue to invest in technology in emerging regions. One driver is we want to be closer to our markets, the other driver is India has a wonderful talent base for doing global R&D,” Vaidya said.
To reach out to the growing automotive market in the country with its light-weight polymer applications, the company set up the DuPont India Innovation Centre in Pune in 2011. Vaidya said the company is also planning to set up a food application laboratory in India to work on efforts such as protein fortification of indigenous food.
@ DuPont hopes to touch $1 bn in sales in India by 2012-end – Livemint:
…DuPont expects its food business, which includes seeds and crop protection, to be its major growth contributor in India, followed by its automotive and coating segments.
“If you look at per hectare production rate in India, there is still a fraction of what they are even when compared to other Asian countries like Vietnam and Thailand, for example, for rice. There is a lot we can do to increase farm productivity in India and so we have a great business,” Vaidya said, adding that DuPont is working on hybrid variants of corn, rice, pulses, millets and oilseeds.
Research and development (R&D) is another key area for the company in India, on which it spends an average $2 billion a year globally.
In 2008, the company set up its first R&D centre outside the US in Hyderabad, called DuPont Knowledge Centre, which works on agriculture biotechnology, crop protection, industrial biotechnology such as biomaterials and biofuels, and advanced material applications in high-performance polymers.
“We continue to invest in technology in emerging regions. One driver is we want to be closer to our markets, the other driver is India has a wonderful talent base for doing global R&D,” Vaidya said.
To reach out to the growing automotive market in the country with its light-weight polymer applications, the company set up the DuPont India Innovation Centre in Pune in 2011. Vaidya said the company is also planning to set up a food application laboratory in India to work on efforts such as protein fortification of indigenous food.
@ DuPont hopes to touch $1 bn in sales in India by 2012-end – Livemint:
2012-11-25 11:21:37
Source: http://gmopundit.blogspot.com/2012/11/dupont-hopes-to-touch-1-bn-in-sales-in.html
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