Global major science company DuPont is committed to aid the growth of business companies in India and will provide the necessary resource towards the purpose, Jian Ping Wang, Du Pont Global Business Director - Filaments, said here on Friday.
While China had rapidly transformed in the last two decades modern infrastructure such as high speed training coming up, he said that India had the potential to witness a similar growth in the next few years. He was here to take part in the annual get together of DuPont Filaments Paint Brush Manufacturers Association.
Mr. Wang said that his DuPont was a science based company that supported a wide array of industries and sectors to provide a sustainable solution for development of the people.He traced the history of the 207-year-old company to its roots when it was gun powder manufacturing company employing around 100 people. At present, its global revenues were in the region of $ 30 million, he said.
Mr. Wang appreciated the contribution to the society made by their customers in creating employment opportunities and also in adding value to their product. Charles Lie, Global Finance Director and Bhavani Venkataraman, Deputy General Manager, were also present.
A total of three presentations were made prior to his addresses on various topics. Mr. Wang also presented six awards to key players who excelled in various fields. The presentations noted that India presented a Rs. 300-crore paint brush market with the four southern States accounting for half of it.
The combined manufacturing capacity of DuPont Filaments Paint Brush Making in Madurai had increased from 50,000 in 2003 to an expected 50,00,000 in 2010.The total potential is likely to grow to 5,00,00,000 brushes with expected revenues of Rs. 1,000 crore by 2020.
