Process Automation in India
Maximum Potential for the Global Automation Market in Developing Countries
Referring to the Automation Solution Market at the end of 2011, Clouther says, “Automation suppliers continued to see revenue growth at the close of 2011, though previous double-digit percentage increases in revenue have given way to smaller numbers. Manufacturers continue to increase production capacity and efficiency, with rising energy prices driving activity in the Oil & Gas (O&G) sector. Process industry (automation) suppliers saw continued, though more sedate, year-on-year growth and reported strong order activity.
Process Plants in Asia Emerging at Huge Pace
Thus, the faster developing countries hold the pie as far as the Global Plant Automation Solution Market is concerned. India, being the second fastest developing economy in Asia, where new process plants are coming up at a huge pace, and owing to the local process plant owners’ zeal for catching up with the global standards, offers tremendous business potential to the process plant automation vendors.
Potential in India: A Future Chemicals and Pharma Hub?
Right at this moment if we look at the global scenario, most of the manufacturers from European countries are shifting or planning to move their process plants in the fast growing Asian countries. Obviously, it is a great opportunity for India. In the US generics market, drugs worth Rs. 48.45 lakh crore are to go off- patent between 2012 to 2015, where again Indian drug companies have huge potential to grab a good market share.
Thus, India has tremendous potential to emerge as a global chemicals and pharmaceuticals manufacturing hub. However, to grab the opportunity, the domestic players have to be highly competitive by raising quality of their products, adopting the latest production technologies, offering maximum level of safety to the plant workers and following all the compliances...