Dow Chemical to set up $100 mln R&D centre in India

MUMBAI, Nov 1 (Reuters) - Dow India, a unit of Dow Chemical Co (DOW.N), the largest U.S. chemical maker, said it will spend an initial 4 billion rupees ($100 million) on a research and development centre in India.

The global R&D centre on a 100-acre site near Pune in western India will be operational by 2008 and have 500 employees by 2010, it said in a statement late on Wednesday.

"The centre will have the capacity to bring a new product to market, from concept to commercialisation," said Vipul Shah, chief executive, Dow Chemical International Pvt Ltd. ($1=39.3 rupees)