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DuPont CEO raises India market targets

DuPont CEO raises India market targets

DuPont Co., the third-biggest U.S. chemical maker, said it expects annual revenue from India to increase more than 40 percent to about $1 billion by 2012, aided by agriculture, infrastructure and automotive products.

Spending on a local research laboratory will be boosted by 500 million rupees and the expansion will be completed by the middle of next year, Chief Executive Officer Ellen Kullman said in an interview in New Delhi, while attending the World Economic Forum summit in November.

Farmers in India, the world’s second-biggest grower of rice, produced an average 3.3 metric tons of paddy per hectare (2.5 acres) in 2007, compared with 6.4 tons in China, 10.3 tons in Egypt and 8.1 tons in the U.S. Du Pont believes it can help boost productivity in India, in what President Obama referred to as the “evergreen revolution” (a reference to the follow on of the green revolution created by American scientist Norman Borlaug).

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