Dalian (China), June 24 (IANS). Mats Johansen, chief executive officer (CEO) of Norwegian biotechnology company Aker Biomarine, said on Wednesday that the ability to rapidly adopt innovation and technology, the growing middle class and the huge consumer base will keep India a strong and attractive market in the long run.
Speaking to IANS on the sidelines of the World Economic Forum’s annual meeting ‘New Champions’, also known as Summer Davos, Johansson said India remains an attractive destination for companies looking for long-term growth opportunities.
He said, “I believe that India will continue to be a very strong market going forward. It has a large population, a rapidly growing middle class and the ability to rapidly adopt innovation and technology. All these things together create the basis for India to remain a strong market for a long time.”
Underscoring its commitment to India, Johansson said Aker BioMarine is expanding its presence in the country and is in the process of opening a new office in Mumbai.
He said, “India has been a strong market for us for a long time. It is already a big market for us. We provide essential inputs to the Indian shrimp farming industry, which is one of the major markets in the world.”
The company is now planning to expand beyond aquaculture and also provide ingredients for food products and human health supplements in India.
“That is why we are also investing in the Indian market and strengthening our presence,” Johansson said.
He also emphasized on the growing role of AI and said that it will become a major medium for increasing productivity and expanding business in the coming times.
According to him, AI will play a vital role in increasing efficiency across the entire value chain of the company, including all areas from manufacturing units to sales, marketing and financial functions.
He said, “AI will become a very important tool to increase productivity across our value chain. Its impact will be visible in every area from our factories and production units to sales, marketing and finance. It will be a big driver of global growth in the coming years and we are trying to adopt it at the maximum level.”
The Summer Davos Conference, which started from June 23, will continue till June 25. Business leaders, government representatives, academics and heads of international organizations from around the world will gather to discuss the future of innovation, entrepreneurship and economic growth.
–IANS
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