| |OCTOBER 20219Carbon neutrality in manufacturing and reduction in water consumption are other areas where companies are seeking technological solutions. Health consciousness of consumers, use of natural inputs in the manufacturing of products, both for human/animal consumption or otherwise are other areas of research.Use of information technology, including AI, IIoT, digital imaging, data analytics etc. is driving efficiency, quality and cost optimisation efforts of the industry.WHERE DOES INDIA STAND IN THIS FIELD ON A GLOBAL SCALE? ALSO, WHAT METRIC MEASURES NEED TO BE TAKEN TO FURTHER THE GROWTH OF R&D EFFORTS?Indian domestic specialty chemical industry is not heavily investing in innovation with exception of a few companies that are engaged in developing innovative products in the true sense. Some of the larger players in India spend less than three percent of their revenue on R&D whereas many global companies spend about five-eight percent of their revenue on R&D.Metrics on R&D, like spend as percentage of revenue and number of patents give indication of R&D efforts of an organisation. At Tata Chemicals, we have two R&D centres, one in Pune and the other in Bangalore, and have cumulatively filed for more than 160 patents and have been granted about 50 patents.Technology adoption and innovation got further accelerated during this pandemic, and led to customizations to suit the evolving needs of customers. Tata Chemicals used its expertise in chemistry and has developed customised applications for their Nano Zinc Oxide using its excellent antiviral and antimicrobial properties. The versatile product finds application across industries, from textiles to paints and protective skin creams.ONE OF THE MAJOR CHALLENGES FACED BY THE SPECIALTY CHEMICAL MANUFACTURERS IS UNPREDICTABILITY AND UNCERTAINTY IN THE DEMAND PATTERNS. HOW WOULD YOU ASSESS THE SCENARIO FROM AN INDIAN MARKET PERSPECTIVE, AND HOW CAN MANUFACTURERS ADAPT ACCORDINGLY?Many manufacturing units have equipment and facilities Many manufacturing units have equipment and facilities that can manufacture multiple products using chemical reaction and synthesis from the same manufacturing line
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