While growth in china is declining, other Asian markets keep moving. India as fourth largest Asian chemical market, it’s momentarily a giant waiting to be woken. Though criticized, the at the moment amble increase is a promising forerun for future, even more positive development.
Currently new conditions are being applied in Indian economy, which enable European investors, to be a part of and participate in India’s anticipated development. ‘’Make in India’’ is a strategic and ambitious development strategy of the Indian economic policy, which should tap the enormous potential of industry in India.
To be a part of the latter and save equivalent market share, means devising immediate strategies and converting them as fast as possible. Dr. Jörg Straßburger is certain ‘’ India is a market, not to be ignored by any company’’. Nevertheless the complexion of this market requires specialized expertise.
India- major potential
- Fourth largest Asian chemical market- with the perspective of flourishing to be the second largest market in the region within a maximum of 10 years
- Chemistry imports grow twice as fast, as domestic production- short term this provides opportunities for importers and medium and long term significant investment possibilities
- Excellent intellectual resources and a large know-how in the chemical sector
- In preparation: a politically supported development program
- growing domestic demand, promoted through a growing middle-class
- rethinking in politics- more support for the industry sector
- a lot of catching up throughout the chemical sector itself as India is heavily dependent on imported feedstock
- positive currency development with decreasing import prices – heightened consumerism
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