Multinational chemicals manufacturing major BASF Group is planning to invest around Euro 3 billion in Asia-Pacific countries between 2017 to 2021 and a share of it will be invested in India, said Sanjeev Gandhi, member of the Board of Executive Directors, BASF SE. India contributes around 12 per cent of the company’s Euro 12 billion sales in Asia-Pacific and is the third largest market in the region.
“The investment is aimed at building new capacities in Asia Pacific. India being one of our key markets will have its fair share in the planned investments. We are keen on expanding our presence in India,” said Gandhi. The Group has invested around Euro 300 million (around Rs 2,000 crore), over the past four years, in manufacturing and research and development activities in India. He further added that the quantum of investment in India depends on how competitive the plans submitted by the Indian arm turn out to be.