FAFAI to open R&D centre in Mumbai by year end
The Fragrances and Flavours Association of India (FAFAI) hopes to inaugurate its Research and Development (R&D) centre in Mumbai by the end of the year. According to Rishabh Kothari, the president of the organisation , the state of the art R & D centre with an investment of USD1,50,000 is being set up to cater to it’s 900 members that include global F&F majors and domestic perfumeries, distributors and raw material suppliers. The global fragrance & flavour industry is worth $24.10 Billion and India contributes approximately $500 million to it. Incidentally, the growth rate in India is approximately 11% in the last few years but is projected to grow exponentially in the years ahead due to rising disposable income, growing demand in middle class and growing market for cosmetics, perfumes & deodorants.
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