Editorial July-2018 Are you participating in Inter-dye Turkey
With the trade war going on between the USA and China, there are various economies being affected due to the same. It is never easy for an economy to withstand the trade war. China has also shut down a number of dyes industries in order to control the pollution levels. The loss of one country has become an opportunity for another. Due to the shutdown in China, there is a huge demand of dyes intermediates in India and it is expected to continue for the coming years. Indian manufacturers have a huge export demand to cater to. This is an opportunity for Indian companies to grow and make the most of the shutdown in China. However, due to the ban on furnace oil, more than hundred industries in Delhi have stopped manufacturing dyes and this has impacted the textiles industry negatively.
In this issue, we cover the pharmaceutical and pharmaceutical intermediates industry in addition to dyes and dyes intermediates. Both the industries are important for the Indian economy and they show strong signs of growth. Indian pharmaceutical sector is estimated to account for 3.1-3.6 percent of the total pharmaceutical industry in terms of value and 10 percent in terms of volume. The sector is expected to grow to $100 billion by the end of 2025. A growth in domestic sales would also depend on the ability of the companies to align their product portfolio for chronic illnesses like anti-depressants, anti-cancer, anti-diabetes and cardiovascular which are on a rise.
Further, dyes industry is one of the core chemical industries in India and is also the second highest export segment in the industry. The industry consists of 1000 small scale units and about 50 organized, large units. The total production of all the units is around 130,000 tonnes of dyestuff. The growth of companies and the entire sector is heavily dependent on the intermediates industries. The industry has been affected due to the increase in the cost of petrochemical products and unless the price of the same is not controlled, the total cost of production for a dye manufacturer will rise. The large players are gearing up for global competitiveness and investing into technology, brand building and product innovation. There is an increased focus on environmental friendliness and the industry is also focusing on higher customer satisfaction through marketing capabilities and technical services which could help beat global competition. Adoption of block chain technology in the industry would also help the companies in a significant manner.
There are various initiatives taken by the Government of India in order to help develop the industries. With an improvement in the infrastructure and the manufacturing facilities, both the industries can thrive and make a mark on the global market. Our aim is to make business convenient and easier for every member in the community. We constantly strive to bring you the latest news and information from the industry and try to serve you better with each issue. We welcome your feedback to help you serve better.
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