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Indian Scenario of Agrochemical Industry: An Overview

Amit Kumar

Abstract


The world’s population is estimated to grow from 6.8 billion today to >9.0 billion by 2050. Global demand for food is expected to double by then as per UN projections and estimate. In India, agriculture is the mainstay of rural economy and supports over 2/3rd of the country's population. The agrochemicals industry is a significant sector for the Indian economy. The Indian agrochemicals market grew at a rate of 11% from USD 1.22 billion in FY08 to an estimated USD 1.36 billion in FY09. India’s agrochemicals consumption is one of the lowest in the world after United States and Japan. Indian population is increasing and the per capita size of land decreasing, the use of pesticides in India has to improve further. Besides increasing in domestic consumption, the exports by the Indian Agrochemicals Industry can be doubled in the next four years if proper strategies and sophisticated technologies are adopted by the industry. This review highlights the current scenario of our agrochemical industry, its structure and current trends, growth forecast, key challenges it is facing, and scope opportunities for improvement.

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References


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