November 7: India certainly could recover its lost stake in the $ 10-billion global perfumery intermediates market by laying more emphasis on establishment of multi-extraction manufacturing facilities.

Chances of enhancing exports of perfumery intermediates from India have brightened up following major changes in the industry in countries like France, Industrial and Technical Consultancy Organisation of Tamil Nadu (Itcot) managing director V Prasanna Bhat told The Financial Express.

Increase in the cost of cultivation of raw material and labour charges has not only made the perfumery business an unviable one in France, but forced entrepreneurs to look for other alternatives. A similar situation persisted in other western nations too, he added.

On the contrary, availability of cheap labour and sound indigenous skills in raw material cultivation had created ample scope for Indian entrepreneurs to succeed in the industry. Moreover, roots of the perfume industry hark back to centuries ago when traders from far-flung regions of the world flocked to India and went back with the products. In order to highlight the vast potential that the industry offers, Itcot has released a publication titled `Opportunities in perfumery intermediates'.

The author of the study and principal vice-president of Itcot V J R Asirvatham said, the compendium had not only identified a wide variety of perfumery intermediates but also dwelt on the project economics at length.According to him, several units had failed in the past owing to a focus on a single set of products whereas the need of the hour was multi-extraction manufacturing facilities. Taking this aspect into account, the Itcot study has called for a multi-mix of product line and the right manufacturing process and technology.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.