HQ Team
April 11, 2023: Astec LifeSciences, a subsidiary of Godrej Agrovet, opened its research and development centre in Rabale, Maharashtra, India, to expand into the contract development and manufacturing business in the chemical industry.
The Adi Godrej Center for Chemical Research and Development will focus on innovation, developing “sustainable and safe solutions for people and the environment”, and providing services in contract development.
According to a BSE filing, the centre has a synthesis lab for product synthesis and a lab to develop new formulations in the crop protection space.
It houses a sophisticated process safety infrastructure for safe and sustainable chemical reactions. The new facility will enable the company to develop a newer range of sustainable products faster and at a greater scale.
“The launch of the R&D Center in Rabale is a significant milestone for Astec LifeSciences in our quest to tap immense potential in the chemical industry,” said Nadir Godrej, Chairman.
‘Emerging frontier’
Balram Singh Yadav, Managing Director, said that India was seen as an “emerging frontier” in the chemicals space and harnessing its full potential will require an enabling eco-system.
“That’s where this R&D Center comes in. The potential in this sector, not just domestically but also globally is huge, and we are confident that our R&D capabilities and the backing of the trusted Godrej brand will make us future-ready and position us at the very cutting edge of the sector,” Mr Yadav said.
Anurag Roy, Chief Executive Offer, Astec LifeSciences, said the contract development and manufacturing market for chemicals in India was expected to grow at a compound annual growth rate of 12% against the global rate of 10%.
“This underlines the incredible potential in this sector, and here in our new facility will enable us to expand our offerings specifically in contract development and manufacturing space.
It will equip the company “to tap on new opportunities” and make it a partner of choice through its ability to provide end-to-end solutions — from the research and development stage to the commercialization of products, Mr Roy said.
Skilled technical manpower
India is becoming the preferred hub for the chemical sector due to the availability of skilled technical manpower, raw materials and a strong intellectual property regime, according to the company.
The company, which makes agrochemical active ingredients, bulk, formulations and intermediate, has hired over 100 chemists and engineers with plans to double the same during the fiscal year ending March 2024.
The Mumbai-based company exports to more than 25 countries, including the United States and countries across Europe, West Asia, South East Asia and Latin America and Africa.
