Ruchika Chemical Industries Pvt. Ltd is a part of Pansari Group established in the year 1988 and is one of the leading manufacturers of fluorescent dyes. The company has received many awards from CHEMEXCIL for certificate of merit for exports. These dyes are specialty dyes and used to manufacture, daylight fluorescent pigments, non destructive testing (NDT), plastic coloration and also used in textile dying & printing. In an interview with Shruti Karthikeyan, Jugal Kishore, Managing Director, Ruchika Chemicals, speaks about the state of the industry, and the need to move towards environmentally sound processes.
How is the dyes and chemical industry presently progressing in India?
Dyes and chemicals industry is doing very well in India. Our raw material supply chain has been broken because somewhere or the other the industry is connected with the Chinese intermediates or Chinese raw material and we are dependent on China for our raw materials. At present, there are lots of problems faced in China by this industry. We expect the situation to improve over time, and we can move towards healthy competition.
How are the prices of dyes and chemicals trending in India?
Due to competition with China from 1990 to 2008-09, we faced cut throat price war and price-cuts, but now, those problems have been addressed. Overproduction has been curtailed by the Chinese government because of environmental hazards, so the prices are at the right level, which is helping the Indian industry.
In the short term, there is a problem of raw materials, but the future belongs to India provided our country takes care of environmental issues and progresses in a systematic manner.
What are the challenges faced in this industry?
Environmental issues are a cause of concern in India and also to the Chinese industry. The industry should follow the rules imposed by the government and the self-imposed rules too. If this happens, there will be no big challenge and it will only be a win-win situation for India.
How is the rupee slump affecting the industry?
Rupee depreciation is definitely affecting the market as the prices of raw materials have gone up. Domestic markets will have to increase the prices, which is not absorbed by the customer. In the short term, there are problems but in future, buyers will have to adjust with the revised prices.