Product mfg to migrate to India: Mukesh

India and China would be the manufacturing bases for end products while the sector is expected to record turnover of $2.5 billion this year, according to Mukesh Ambani, chairman and managing director of Reliance Industries.

"Co-location of manufacturing bases would also be an emerging trend while a radical change in diversity and structure of products, banking on the emerging technologies would also be the order of the day," Ambani said in his address at the Dr H L Roy Memorial Lecture today.

"Indians should steal the limelight in polyester manufacturing and sales from Koreans and Taiwanese," he said.

A paradigm shift in diversity and structure of the products are also witnessed while the industry is on the verge of biotechnology-led change, he added.

"Not surprisingly, bio-technology promises to bring out new products like bio-polymer, bio-fertiliser, bio-foods and bio-chemicals among others," he said.

Over 20% of global revenues would be from the bio spectrum by 2010, an increase from the present 5%, he said, adding Japanese firms estimate that 10% would be from enzyme-based products.

"In future, we will be able to use paint that will change colour by itself while energy devices and fuel cells are also on the anvil," he said.

The industry would realign itself to be a platform of creation and technology while issues like volatility in feedstock prices, regulatory issues, quality and an emerging shortage of talent would be the challenges, he added.