Chemicals industry has taken over 30 per cent of China’s export market
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Mumbai: The Indian fine speciality chemicals industry has taken over 30 per cent of China’s export market in these products and is expected to increase as even the domestic pharmaceutical industry that had been sourcing these raw materials from China are turning to the Indian producers.
India is one of the major global players in this segment and accounts for 20 per cent of the global demand. This could go up to 30 per cent in the next two to three years said Pravin Herlekar founder and CMD, Omkar Speciality Chemicals Ltd.
Talking to this newspaper, Mr Herlekar, whose company supplies 70 per cent of its production to the pharma industry, said China had problems with quality of its products and more recently its strong anti-pollution measures have restricted production of these fine speciality chemicals. India, on the other hand, has strong environmental controls in place. He said European and the US companies not only audit their production facilities but look into the environment, health and safety factors.
( Source : dc correspondent )
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