INDIA: Dye industry in India has bright prospects: Reddy

MUMBAI: The dyestuff industry has a huge potential for the growth in the Indian textile industry, Union Chemicals and Petrochemicals secretary, Satwant Reddy said here on September 21.

The secretary was speaking at the inaugural ceremony of a two-day international conference on Indian dyestuffs industry here on 21st September.

Since the share of developed countries in the world production of dyes has come down from 65 percent to 50 percent; the situation has generated a huge potential for the growth of the Indian dye industry.

However, the developed world is not interested in further growth of the dyestuff industries in their countries and would prefer to source their requirements from countries like India, China, Taiwan, Korea and Indonesia.

Reddy further suggested that the industry should meet the environmental and pollution standards norms scrupulously as they should not grow at the cost of environment deterioration.

The installed capacity of dyestuff units was considerably under utilised owing to the absence of world class plant capacities, use of obsolete equipment and technology, insufficient R&D efforts etc.

Government has constituted a task force to finalise the strategy to face the challenges posed by the proposed European Union legislation REACH (Registration, Evaluation, Authorisation and Restriction of Chemicals).

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Added: September 22, 2006 Source: Agencies
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