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Dupont sees India as key growth market
Monday, 05 May 2003, 19:30 IST
NEW DELHI: Dupont, a global leader in science-based solutions, has identified India as a key growth market globally for its soy protein products and plans to expand presence rapidly by typing up with local companies.
Dupont will spearhead its business initiatives for soy protein-based products in India through The Solae Company, a joint venture between Dupont and the U.S.-based Bunge Ltd.
DuPont India, the local arm of the U.S.-based company, markets a wide range of products in a host of industrial sectors including food and nutrition, healthcare, apparel, home and construction, electronics and transportation.
"We have estimated the food and nutrition market space in India to be about 
10 billion," said Stephen Tanda, chief executive officer of The Solae Company.
"Our aim is to be an ingredient and technology powerhouse for the food and beverage companies in the country with our Solae brand of soy proteins," Tanda told IANS.
"We expect the market for soy products in India to grow by 25 percent per annum over the next few years and contribute significantly to our global revenue that is expected to exceed $900 million this year."
The Dupont official is in India to launch a soy protein-based product development centre in India. The company also launched the first instant soymilk powder in India called Soyvita.
"We really see great opportunities in India in enhancing nutritional profile. Dupont was the first company to come with nutrition food ingredient in India and our business has grown very rapidly in the last few years," said Tanda.
Dupont has been marketing select range of soy protein products in the Indian market through Dupont Protein Technologies International, a wholly owned subsidiary of global technology giant.
"Today we have over 100 clients in India who are using our products for a cross section of applications. Our goal is to grow the business, aligning with localised production to maximise effective processing and distribution," said Tanda.
He said Dupont had so far invested $3 million on its Indian operations and would make further investments as its business grows.
"Our investment mainly goes into lot of technology value addition after importing the product from the U.S. and European countries."
Tanda said the company would also explore merger and acquisition opportunities in India to expand business across the country.
"Food business is mainly run by the medium and small companies in India, and smaller companies often bring the local trend much quicker across the consumer chain. We will evaluate any such opportunities coming our way."
Source: IANS
10 billion," said Stephen Tanda, chief executive officer of The Solae Company.
"Our aim is to be an ingredient and technology powerhouse for the food and beverage companies in the country with our Solae brand of soy proteins," Tanda told IANS.
"We expect the market for soy products in India to grow by 25 percent per annum over the next few years and contribute significantly to our global revenue that is expected to exceed $900 million this year."
The Dupont official is in India to launch a soy protein-based product development centre in India. The company also launched the first instant soymilk powder in India called Soyvita.
"We really see great opportunities in India in enhancing nutritional profile. Dupont was the first company to come with nutrition food ingredient in India and our business has grown very rapidly in the last few years," said Tanda.
Dupont has been marketing select range of soy protein products in the Indian market through Dupont Protein Technologies International, a wholly owned subsidiary of global technology giant.
"Today we have over 100 clients in India who are using our products for a cross section of applications. Our goal is to grow the business, aligning with localised production to maximise effective processing and distribution," said Tanda.
He said Dupont had so far invested $3 million on its Indian operations and would make further investments as its business grows.
"Our investment mainly goes into lot of technology value addition after importing the product from the U.S. and European countries."
Tanda said the company would also explore merger and acquisition opportunities in India to expand business across the country.
"Food business is mainly run by the medium and small companies in India, and smaller companies often bring the local trend much quicker across the consumer chain. We will evaluate any such opportunities coming our way."
Source: IANS