Agricultural technology, organics, agrochemicals, research and development (R&D) in India are on the rise, confirming the opinion of Kynectec's chief agricultural consultant, Bob Fairclough. Two years ago, he named India as the fastest growing "significant-sized" agrochemical market in the last decade, writes René Targos, editor of AgriBusiness GlobalTM Direct, in an article.

In 2022, Indian agrochemical companies intensified the integration and use of international storage warehouses to continue production and expansion to meet global demand during and after the pandemic. For example, Meghmani Organics Limited has invested $100 million in capital investments to expand and build new manufacturing facilities and is also introducing nine new molecules.

Atul Churiwal, managing director of Krishi Rasayan Exports, says: "Over the next two to three years, India has a great opportunity to strengthen its position in the global agrochemical market. Exports are growing exponentially. More companies are migrating to technical manufacturing and contract manufacturing as many multinationals seek india."

Amit Momaya, Regional Director of International Business at Hemani Industries Limited, recalls the opportunities associated with generics: "It is expected that by 2023, $4.2 billion in products will no longer be patented, and this will allow the production of 26 active ingredients. in the form of generic molecules.

According to the Federation of Chambers of Commerce and Industry of India, the Government of India considers its agrochemical industry one of the top 12 industries to achieve global leadership with a growth rate of 8% to 10% by 2025. According to business magazine Inventive, the main players in India are Syngenta AG, UPL Limited, BASF SE, Bayer CropScience, National Fertilizer Limited and TATA Rallis.

Source: Agrolink