Indian agrochemical Industry has huge unrealised potential for growth due to very low level of agrochemical consumption as compared to global norms, DV Sadananda Gowda, Minister of Chemicals and Fertilizers, Government of India today said today. “The role of agrochemicals in achieving the vision of a US$5 trillion economy by 2025 cannot be undermined, as it not only ensures food security, provides livelihoods but also provides impetus to the growth of industries and service sectors,” he added.
Addressing the virtual session of the ‘9th Agrochemicals Conference’, organised by FICCI, supported by the Dept of Chemicals & Petrochemicals, Govt of India, Gowda said that while focusing on tapping unrealised potential, we must also ensure that the use of agrochemicals remains judicious and sustainable for the environment.
“The agrochemicals industry should focus on developing new processes and products with sustainability as the core principle. This requires developing a collaborative platform including academia, government and regulatory bodies, farmers’ associations, manufacturers, and farmers coming together to promote safe and judicious usage of pesticides,” he added.
Highlighting the potential of the sector, Gowda further stated that India’s capability in low cost manufacturing, availability of technically trained resources, seasonal domestic demand, overcapacity, better price realisation, and a strong presence in generic pesticide manufacturing are the major factors boosting the agrochemicals growth.
“The government is focusing on strengthening the sector by supporting the industry with the development and adoption of new technologies and techniques. We must make well-informed strategic changes and restructure the businesses to navigate this uneven demand scenario until the threat of the pandemic is over and industry dynamics return to pre-outbreak levels,” Gowda noted.
The ministry, he said, is geared up for taking all the required initiatives to support the industry and facilitate the investments required for the agrochemicals industry to realise its true potential.
Rajesh Kumar Chaturvedi, Secretary, Department of Chemicals & Petrochemicals, Govt of India said, “The agrochemicals the sector has huge potential for growth as the average consumption of pesticides is low in India.”
He further added that R&D and innovation should be among the top priority for us. “These are key drivers for the growth in the sector and will supplement the efforts of the industry in the global value chain. Industries’ safety and sustainability should be a priority to safeguard the long-term global value chain. It is imperative to develop a mechanism to make India’s agrochemicals industry a global brand,” said Chaturvedi.
Dr Sangita Reddy, President, FICCI said that the fertiliser segment of agrochemicals will create demand for a better yield because of the shrinking urban land and higher production of crops with better quality. “It is important to maintain soil fertility as it is the real driver of the agrochemical market. It is important for us to ensure balanced use of fertilisers in farmlands, and to look at the future of organics as well,” she added.
RG Aggarwal, Chairman, FICCI-Sub Committee on Crop Protection Chemicals and Group Chairman, Dhanuka Agritech said “The agrochemical industry is small in the overall chemical sector, but its role in food nutrition and health security is enormous.”
Salil Singhal, Chairman Emeritus, PI Industries; Siang Hee Tan, ED, Crop Life Asia; Sagar Kaushik, COO, UPL also shared their perspective on the role of agrochemicals in achieving the vision of US$5 trillion GDP by 2025.