INVESTMENT THESIS ON SRF
Over the last few years China has witnessed wide spread governmental crackdown on its chemical industries due to pollution & environmental concerns, which has resulted in arbitrary shutdown of entire chemical belts (including non-polluting manufacturers). Further, fear of trade wars with the US has led to MNCs looking to de-risk their supply chains.
Indian Chemical players with a track record and culture of environmental compliance, and who have invested to build a technology edge should benefit structurally as India is home to strong chemistry and process development skills, low cost manufacturing & good track record of respect for customers IP.
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