German nano-tech firms eyeing India

Germany based nano-technology companies are eyeing India. Two of them, NTC Nano Tech Coatings GmbH and Nanogate Technologies have sent officials to India to find out the potential of selling either their technology or their product in the country.

Based on the potential the country offers, these companies could also set up manufacturing facilities in the country.

"We are here to weigh the Indian market and have a feel of possible demand of our products. We are also open to the idea of providing ideas to the industry whatever we can provide," said George Wagner, from NTC Nano Tech Coatings.

Products from these two companies find application in automotive industries, glass and ceramic segment, decorative, and anti-adhesive coatings.

These companies have also developed ceramic tiles and glasses that are easy to clean with nano-technology which are suited for humid countries like India.

According to estimates the estimated venture funding to nano-technology-related start-ups was $88 million for 2000 worldwide. The figure was estimated to be more now.

Recent statistics have indicated that this was a $45 billion industry which had the possibility to grow at 73 per cent compounded annually to $700 billion by 2008.

"While research on the subject has started in India corporate funding and spending is what will carry it forward. India has substantial scientific, engineering infrastructure and also quality of manpower to carry this research forward in a big way," said P K Sen, senior adviser to Confederation of Indian Industry, at an interactive meet on nano-technology in the city today.

"In India there is slow and steady increase in awareness about the technology and its potential industrial application. Research in India at present however is confined to academics with no involvement of the industry. More of industry involvement is required and they should be made to understand the immense potential it has for the segment," he added.