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investing 13 % of our revenue into R & D for so many years now . Futuristic technologies have been our focus and a lot of innovations around industrial enzymes , almost 60 % to 70 % have been led by Novozymes . We take a lot of pride in the fact that we are pioneers in this space . From the future standpoint , we want to put a lot of focus on biohealth , wellbeing , and human nutrition areas . We want to also focus on increasing the farm productivity and yield with reduced use of pesticides . We are also working on an alternative to animal proteins and will be setting up a plant in the USA .
There is a lot of onus on Make in India by the government . Are you planning to set up any new manufacturing plant or expand the existing ones into any new verticals ?
Make in India is an important initiative and we have already been a part of it in some ways . Our Patalganga production site caters to the enzyme requirements of the global juice industry . We have also acquired the Synergia Life Sciences where the Vitamin K2-7 is produced and exported to various parts of the world . From the futuristic point of view , biofuels is a space where the country is moving forward and as soon as there is more clarity , we will consider manufacturing our products here .
How is the company different from the competition in terms of product portfolio and approach to the market ?
We have spent 40 years in India and we have been pioneers in introducing a lot of new technologies in this space . When we talk of the competition , there are broadly two categories . One is the internal competition between companies within the biological enzymes space . The other competition is on the chemical side . The market penetration in the biotech space is still limited and the pie is constantly expanding . For Novozymes , the competition is good and keeps everyone on toes but our model is customer centric where we try to understand the needs of customers and convert them into opportunities . Our understanding of the Indian landscape is good and we have a highly functional structure on the ground that works efficiently based on the customer feedback mechanism . Our turnaround time to the customers is extremely short . These are good enablers apart from the effective supply chain that helps us to fulfil the customer requirements .
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BioVoiceNews | August 2023