Nano coating technology has Rs1,000 cr potential, says German consul general at event in Pune
He further said that the growth of nano coating technology business will create job opportunities in the country and invite investment in the sectorUpdated: Feb 13, 2019 19:18 IST
Hindustan Times, Pune
Jurgen Morhard, German consul general, on Tuesday, said that there was a huge business potential between India and Germany in the field of nano coating technology (nano coating is adding a layer to a surface which can help it repel water, oil, dirt, and other dry particles). Morhard said that the nano coating technology business will cross Rs1,000 crore in the next decade.
The German consul general was addressing business leaders and employees of Techexpert Engineering Private Limited, which is involved in designing, manufacturing, exporting and supplying a broad range of paint finishing and powder covering systems. The company is based at Shivane (Maharashtra Industrial Development Corporation (MIDC)). A memorandum of understanding was signed between the two companies which has set tone for German investment in the Indian company.
“We will be offering our legal, financial, permissions and clearance related support in this field of business. The state government has also given its support to us and together, we are committed to strengthening the bilateral business ties between the two nations,” Morhard added.
He further said that the growth of nano coating technology business will create job opportunities in the country and invite investment in the sector. The consul general congratulated the efforts taken by JV Ingale, managing director, Techexpert Engineering Private Limited, to initiate a nanotechnology venture tie-up with GBneuhaus, a nano coating technology company from Germany.
Ingle, who founded the company in 1998, said, “The tradition of producing quality products has been sustained for the last 20 years. In order to design, manufacture, export and supply the paint finishing and powder cover system, powder coating, liquid paint coating and metal pre-treatment, we have created our own unique identity compared to other competing companies.”
Wolfgang Tiefensee, Minister of Economic Affairs, Science and Digital Society of the State of Thuringia, Germany, said that there was high growth in the business of nano coating technology which will strengthen the business relations between India and Germany.
First Published: Feb 13, 2019 17:25 IST