India's Agrochemical Industry: Cultivating Growth and Global Potential
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In a recent article in AgriBusiness Global DIRECT, it's been mentioned that the agrochemicals industry in India is experiencing significant growth and is expected to keep growing in the coming years. The market size reached nearly $6 billion in 2022 and is expected to grow at a rate of 8.5% per year between 2023 and 2028, reaching a value of almost $9.82 billion by 2028. This growth is happening because of favorable policies within the country, a supportive investment environment, and Indian companies increasing their production capabilities and infrastructure.
भारत में कृषि रसायन उद्योग बढ़ने की उम्मीद है। 2028 तक यह बाजार ३३% बढ़कर लगभग 81,722 करोड़ रूपये तक पहुंच जाएगा। यह वृद्धि देश के भीतर अनुकूल नीतियों के कारण हो रही है।
The Indian government's "Make In India" initiative, which aims to promote domestic manufacturing, has played a crucial role in supporting the agrochemical industry. This initiative has made it easier for businesses by reducing regulatory obstacles and upgrading necessary infrastructure, allowing India to become a global hub for the production of agrochemical products. Both the government and the industry have also invested heavily in research and innovation to create new chemicals, production methods, and environmentally friendly products.
भारत सरकार की "मेक इन इंडिया" पहल ने कृषि रसायन उद्योग को समर्थन देने में महत्वपूर्ण भूमिका निभाई है। सरकार और उद्योग दोनों ने नए रसायनों, उत्पादन विधियों और पर्यावरण के अनुकूल उत्पादों को बनाने के लिए अनुसंधान और नवाचार में भारी निवेश किया है।
One significant reason for India's growth in the agrochemical sector is that companies are starting to produce their own chemicals instead of relying on imports from China. They're also focusing on getting approval for off-patent products and building relationships with distributors to sell these products at more reasonable prices. Indian manufacturers are known for their high-quality and cost-effective production of chemicals like organophosphorus, carbon disulphide, and pyrethroid chemistries.
भारत की कंपनियां अपने स्वयं के रसायनों का उत्पादन शुरू कर रही हैं। वे ऑफ-पेटेंट उत्पादों के लिए अनुमोदन प्राप्त करने और इन उत्पादों को अधिक उचित कीमतों पर बेचने के लिए वितरकों के साथ संबंध बनाने पर भी ध्यान केंद्रित कर रहे हैं। भारतीय निर्माता ऑर्गेनोफॉस्फोरस, कार्बन डाइसल्फ़ाइड और पाइरेथ्रोइड रसायन जैसे रसायनों के उच्च-गुणवत्ता और लागत प्रभावी उत्पादन के लिए जाने जाते हैं।
However, there are challenges that need to be addressed. India currently faces a shortage of yellow phosphorus, which limits the production of certain chemicals. Additionally, the country lacks large-scale production facilities like those in China. Furthermore, agrochemicals are not included in the government's production-linked incentive (PLI) scheme, which provides incentives for goods made in India. Bringing agrochemicals into the PLI scheme and regulating the import of agrochemical formulations could attract new investments and support the "Make In India" efforts of the government.
भारत वर्तमान में पीले फास्फोरस की कमी का सामना कर रहा है, जो कुछ रसायनों के उत्पादन को सीमित करता है। इसके अतिरिक्त, देश में चीन जैसी बड़े पैमाने पर उत्पादन सुविधाओं का अभाव है। इसके अलावा, कृषि रसायन सरकार की उत्पादन-लिंक्ड प्रोत्साहन (पीएलआई) योजना में शामिल नहीं हैं।
Despite these challenges, the future of India's agrochemical industry looks promising. Changes in the agricultural sector in the country are creating new opportunities for manufacturers, formulators, and suppliers. According to a report, the industry's revenues are expected to grow by 15-17% in 2023 and 10-12% in 2024, driven by strong exports and stable domestic demand. The industry's growth will depend on factors such as the availability of raw materials and favorable weather conditions.
इन चुनौतियों के बावजूद, भारत के कृषि रसायन उद्योग का भविष्य आशाजनक दिखता है। एक रिपोर्ट के अनुसार, मजबूत निर्यात और स्थिर घरेलू मांग के कारण उद्योग का राजस्व 2023 में 15-17% और 2024 में 10-12% बढ़ने की उम्मीद है।
In conclusion, India's agrochemicals industry is on a positive growth path, thanks to government initiatives, increased production capabilities, and innovation. The country has the potential to become a significant player in the global agrochemical market, driven by its focus on domestic manufacturing and the development of high-quality, cost-effective products.
