Clariant AG, the Swiss multinational, has identified Clariant (India) among its global outsourcing hub for raw materials, dye-stuffs and specialty chemicals.
Clariant AG is the world's second largest specialty chemical producer with over 100 group companies in all five continents.
Prakash R Rastogi, managing director of Clariant India, told Business Standard, "Clariant India is one of the three global outsourcing hubs identified by the group. The hub model of the parent organisation was designed keeping in mind the specific competitive advantages of each of these countries."
China and Japan are the other two countries identified by the Swiss company to outsource its requirements.
Last year, around 75 per cent of Clariant India's total export of Rs 100 crore (Rs 1 billion) was to its various group companies. The Indian company is a market leader in textile chemicals and leather dyes.
The Indian arm, which in turn outsources 25 per cent of its total sales of Rs 325 crore (Rs 3.25 billion) from a host of Indian companies, has identified its core strength to be marketing and servicing.
Commenting on the company's management strategy, Rastogi said, "We have been growing at a compounded annual growth rate of 14 per cent against the industry average of 2 per cent. Our core strength is in marketing and servicing our customers. Customer servicing is more critical to business than just the product or price."
Increasing consumerism and high demand for lifestyle products, according to Rastogi, would be the key growth driver.
Also, with per capita consumption of dye-stuff in India as low as 50 grams, there is a huge opportunity for growth. The company has set a target of 15 per cent sales from introduction of its new product.
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