Category — Industrial Goods
In an interview with the Economic Times’ Healthworld, Dr. Richard M. Eglen, vice president and general manager of Corning Life Sciences, discussed the company’s business growth in India.
On Corning Life Science’s business in India
Eglen: India is one of our fastest growing markets in the Asia Pacific region. As a market, India has shown great potential and continues to grow significantly and drive growth for Corning Life Sciences outside of the U.S. With India’s population slated to reach 1.4 billion by 2022 (per the 2015 UN Report on World Population), this growing population demands not only large-scale production of vaccines, but also research for newer vaccines relevant to India.
Corning’s bioprocess products provide a full range of tools to successfully perform vaccine scale-up and production. Our cell culture products are of great interest to Indian pharmaceutical companies.
On Corning’s India’s revenue share
Eglen: The total sale of Asia represents over 50% of Corning’s total sales of US $ 9.1 billion worldwide in 2015. We can also tell you that we have more than doubled our revenues in India since 2009. 2015 was our strongest performance in Corning Life Science India history and we have kept the momentum going in 2016.
On future plans for the Indian market
Eglen: The Indian pharmaceutical market is currently at $25 billion and is expected to continue to grow at a CAGR of 12% till 2020. India is 3rd largest pharmaceutical market in the world by incremental growth and 7th largest by volume which gives Corning Life Sciences an immense growth opportunity. We have opened a warehouse for life sciences products for Indian customers in Mumbai which shows our commitment to be a reliable supplier for our customers in India.
December 29, 2016 No Comments
AkzoNobel a Dutch multinational company in paints, coatings and specialty chemicals has set up a first-of-its-kind Specialty Coatings production facility and color laboratory in the satellite town of Noida 15 miles from New Delhi, reports BusinessWire, India.
Alberto Slikta, managing director, Specialty Coatings, AkzoNobel, said, “India is a key market for our growth strategy and this facility will enable us to further strengthen our position as a leading producer while supporting the supply network. Additionally, this market shows signs of a high demand for consumer durables and electronics. As demand and volumes rise, we will continue to fortify our footprint in high-growth economies such as India.”
AkzoNobel India has been operating in the country for over 60 years. It currently has six manufacturing sites, two research centers, and a network of over 8,800 dealers and distributors.
December 28, 2016 No Comments
Startup Flutura, located in Bangalore, India, makes an IoT product that captures data streaming from various sensors on machines to analyze their health and predict problems. Derick Jose, co-founder of Flutura, describes its IoT product Cerebra as a “Fitbit for machines.”
The Cerebra platform connects assets used in industries to correlate, analyze, make intelligent predictions and provide actionable insights with the data it receives from the assets to help create smart factories, reports Forbes.
In the U.S., Cerebra IoT Signal Intelligence harvests asset signals for a leading airport reducing millions of dollars in delays; it effected revenue generation of $120 million across the first 3 years for a large Houston-based oil and gas OEM; it optimized vessel speed to minimize Total Fuel Consumption to improve the performance of vessels. This resulted in savings of up to $300,000 per year for large vessels for the largest North American Vessel Classification Society.
October 13, 2016 No Comments
Swiss financial services company, Credit Suisse recently spent time in India to ascertain the status of mineral resources and commodities. “India looks to be firing at last,” was one of the headings in the bank’s report. The investigators had meetings with government agencies and companies in Delhi, Kolkata and Mumbai, focusing on demand for bulk companies such as coal and iron ore,as also fertilizer and aluminum.
The bank remarked that the best opportunity for miners looking for market opportunities in India, was copper since India had limited supplies of the mineral. It also warned against selling iron ore and coal to India since with problems of bulk commodity distribution being overcome, India was self sufficient in these minerals, reports Forbes.
“We came away convinced that India really is on the cusp of a major growth phase,” the bank said. “Companies pointed out the positives they see from government policies; an anti-corruption focus, a level playing field without favoritism, clear high level policies, and government ministries and State-owned companies driving to implement the policies, and overcoming many problems of the past.”
September 27, 2016 No Comments
Leicestershire, U.K.-based Electrolube, maker of electro-chemicals, established a new manufacturing facility in Bangalore, offering the advantages of shorter lead times and reliability of supply. Electrolube India has run a successful technical sales operation in the city since 2012, reports EMSNow.
The new factory, which will start operations in August 2016, will have an initial focus on the production of encapsulation resins, conformal coatings and thermal management materials. Electrolube managing director, Ron Jakeman, commented, “India is poised to become one of the world’s prime electronics manufacturing regions. Both export and local markets are booming and demand for specialized services and products, such as those provided by Electrolube, is growing rapidly.”
Electrolube India’s sales manager, Padmanabha Shaktivelu, added, “Electrolube’s business and reputation have grown exponentially since our initial opening in India four years ago. There is enormous potential for growth in India with endless opportunities for Electrolube’s specialty products to help customers find new solutions to old problems. We have also discovered that local manufacturers are keen to enhance their green credentials and we will be investing further in promoting our eco-friendly, aromatic-free conformal coatings and water-based cleaning solutions, as well as the full range of coatings, greases, resins and cleaning products.”
July 11, 2016 No Comments