The ascendency of India as an economic world power

World’s second largest Chemical Company, DOW Chemical Company is going to open a research and development center in Chakan, Pune in India. For the R&D center, DOW will initially invest $100 million. With the association of Maharashtra Industrial Development Corporation, DOW wants to set up this Global R&D center which will be operational by 2008. Recently, DOW India and Maharashtra Government have signed a memorandum of understanding (MoU) regarding this R&D center.

Maharashtra Industrial Development Corporation (MIDC) has already allotted 100-acre land for this center and more than 125 researchers have already been employed in a rented facility. DOW has a plan to employ 500 researchers by 2010. Vipul Shah, chief executive of Dow Chemical International Pvt Ltd. has said that the center will be capable of introducing a new product in the market.

DOW Chemical has been operating its business activities for over the last 50 years. DOW mainly produces plastics, chemicals, and agricultural products in the global market. DOW has various research and development centers worldwide. Now, it seems that DOW has targeted India’s ever increasing market seriously and wants to get the best out of it. Besides, it will also be helpful for India as it will create new jobs and bring more money to the Indian economy.

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The Hindu