Mumbai: The world’s top chemicals company E. I. Du Pont de Nemours and Co., or DuPont, is expanding its industrial biosciences business in India following its acquisition of Danish biosciences company Danisco two years ago.
Du Pont’s senior management team from its industrial biosciences business, who were in India to explore opportunities in the segment, has identified three main growth areas—textiles, household and fabric care, and animal nutrition—as part of expanding in the country. The biofuel sector is also key in India, executives said.
“We are deepening our understanding of local needs with market research and local talent,” Jim Collins, president, DuPont Industrial Biosciences, said at a press briefing in Mumbai on Tuesday.
The group plans to set up a local application development centre for industrial biosciences at its existing DuPont Knowledge Centre in Hyderabad. Staffing at this centre will be doubled from the existing 50 people, Collins said.
“These investments will ensure that the science we develop will be attuned to India’s specific market needs and address the challenges and opportunities that come with a growing middle class,” he said.
The company, which acquired Danisco in 2011 for $5.8 billion, is also exploring synergies between the Danish company’s India arm and its Genencor biosciences unit in the country.
DuPont executives did not say how much the company will invest to expand its industrial biosciences business in India.
DuPont’s industrial biosciences business, which offers technologies for segments such as animal nutrition, textiles, fabric care and biofuels, contributed at least $1.2 billion to its global revenue in 2012.
The company has been present in India since 1994 and employs at least 4,000 people in the country.