Page 196 - CW E-Magazine (13-8-2024)

Special Report

India needs R&D thrust to take its specialty chemicals

sector to the next level

ndia stands at a pivotal juncture They are pioneering research into DR. KAMLESH FONDEKAR
in its journey towards becoming a critical areas such as synthesis, analy- Head, R&D, Godrej Agrovet Ltd.
Iglobal powerhouse in the specialty tics, process safety, kilo and fl ow
chemicals sector. With a burgeoning chemistry, and formulation development. These technologies are not only
market and increasing global demand, accelerating the pace of innovation but
the potential is evident. However, to These facilities are fostering an also reducing the time and cost associ-
truly break through on the global stage, environment where innovation can ated with bringing new products to
India must signifi cantly ramp up its thrive, pushing the boundaries of what market.
research and development (R&D) is possible in specialty chemicals manu-
capabilities. facturing. Despite the current challenges, the
shift towards greater R&D investment
Over the past 15 years, the average The power of digital technology and digital adoption is a clear indica-
R&D spending in the specialty chemi- The role of digital technology in this tion that the industry is on the cusp of a
cals sector in India has remained steady transformation cannot be overstated. signifi cant transformation.
at around 2.5% of revenue.This fi gure,
while consistent, highlights the rela- In today’s rapidly evolving tech- Companies are beginning to recog-
tively nascent stage of R&D investment nological landscape, digital tools are nise that to stay competitive on a global
in the industry. In comparison to global becoming indispensable for specialty scale, they must invest in R&D and
counterparts, India has considerable chemicals manufacturers. embrace digital solutions. This shift is
ground to cover. Despite this, there are essential not only for improving current
promising signs of change that suggest Digital technology is helping com- product offerings, but also for explor-
a transformative future. panies in numerous ways – from in- ing new frontiers in specialty chemicals
creasing throughput in the development that can drive future growth.
Change afoot of new molecules to optimising formu-
One of the most encouraging deve- lations for both cost and performance. Manufacturing hub to R&D power-
lopments is the emergence of advanced house
laboratory facilities across the country. Advanced data analytics, machine The journey of any economy to
These state-of-the-art labs are not just learning, and artifi cial intelligence are prominence typically follows a set
incremental improvements, but are enabling more effi cient research pro- pattern.
having a transformational impact on cesses, predictive modelling, and real-
the industry. time monitoring of experiments. The fi rst step is establishing itself
as a global manufacturing hub, which
India has successfully done in various
sectors, from pharmaceuticals and
information technology, to aerospace
and mobility.

However, to sustain the momentum
and ensure long-term success, the next
critical step is transforming into an
R&D hub. Innovation is the key driver
of future success, and for India, this
means cultivating a robust R&D eco-
system within the specialty chemicals
sector.

To achieve this, a concerted effort is

196 Chemical Weekly August 13, 2024

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