DuPont sees a $ 5 billion addressable market in India for a variety of businesses including agriculture biotechnology that it has been engaged in as compared with $ 900 million revenues the multinational company had generated last year from the Asia Pacific region.
India accounts for 80 per cent of the revenues coming from the Asia Pacific region, said Rejeev Vaidya, president - South Asia of Dupont, adding the company's business growth would be 2-3 times of the GDP of the respective countries in the region.
Apart from developing new seed traits that include improved yields, resistance to pests and drought besides plant protection chemicals, the company is also focusing its research at its Indian R&D facilities on areas such as light weight composite materials for automotive applications, environmental-friendly textile processes, and packaging among others, according to Vaidya.
The company on Tuesday announced it was expanding the Hyderabad Knowledge Centre, one of its research facilities in India, to build further capabilities in seed trait discovery research besides the development of other applications including textile processing, polymers for light-weight applications, food packaging. It has so far invested over $50 million in the Hyderabad R&D facility.