Industrial Nanotech, Inc., is opening a sales office in India due to increased demand for its Nansulate energy saving and protective coatings from OEM manufacturers as well as end manufacturing users to reduce energy costs. The company plans to establish an office first in Southern India, in or near Bangalore, with expansion to Northern India and Western India in the near future.
"India has become an increasingly important country as their manufacturing sectors and economy as a whole continue to have a healthy growth rate," said Francesca Crolley, vice president of business development for Industrial Nanotech, Inc. "We began a strategy this year focused on boosting our marketing and brand presence in India as an energy saving solution and it has returned significant results. These include multiple inquiries from manufacturers that want to use Nansulate coatings for insulation of their equipment for energy savings and surface temperature reduction, as well as a meeting with a leading OEM manufacturer of process cooling systems with 14 locations throughout India, and an international client base, that is interested in incorporating our technology into the process cooling systems they manufacture and sell."
India's economic growth is expected to remain robust in 2012 and 2013, despite likely headwind of double-dip recessions in Europe and the U.S., according to a United Nations' annual economic report, "World Economic Situation and Prospects 2012". The Indian economy is expected to grow between 7.7 percent and 7.9 percent this year, as per the report. India is the second most preferred destination for foreign investors, according to the report, "Doing Business in India" by Ernst & Young.