Indian insecticide producer IIL eyeing export market
Insecticides (India) Ltd (IIL), a BSE & NSE listed agro-chemicals manufacturing company, is scouting for export markets in Japan, Europe and the United States of America.
According to Rajesh Aggarwal, its managing direcor, there is a big room for Indian players to export herbicides, fungicides and insecticides. He added the company is looking forward to invest Rs 100 crore in the next two years in research and development and capacity addition at the existing units to match the demand in domestic and global market.
The investments will be routed through strategic partnerships and private equity,said Aggarwal.
Talking to media on Tuesday on the sidelines of the launch of Nuvan and Hakama— two insecticide brands—in Punjab& Haryana, he said the turnover of the company was Rs 554 crore in 2011-12 and might touch a turnover of Rs 800 crore in 2012-13.
IIL introduced Nuvan, a popular international insecticide brand used in all major crops.The product, with technical collaboration with US-based American Vanguard Corporation, will now be marketed by Insecticides (India) Limited.This is a very popular name in India, especially in the northern market.
IIL has launched Pulsor, a systemic preventive and curative fungicide for paddy, with the most potential market in Punjab and Haryana, being one of the large paddy growing states. This product will be exclusively marketed by IIL in India.
Hakama is used in various crops like soybean, groundnut and cotton for control of narrow weeds. The product has a huge potentialal across the country, as the market for herbicides is increasing in India at a fast pace.
“With Pulsor, and, other new products to be launched this year we will be making our kitty of brands stronger and providing the complete basket to the farmers at an affordable cost. Particularly, Pulsor has a huge potential for Punjab and Haryana where farmers are progressive and look forward to adopting the best technologies to improve farm produce,” he added.
“We at IIL have been striving hard to provide training and information to the farmers, since last 3 years through farmer awareness programmes pan India. The objective of these programs is to create an understanding on the prudent use of pesticides and its safety measures with emphasis on good agricultural practices, and how the crop yield can be increased. This year, also we are doing awareness drive of safe and judicious use of agro chemicals in the month of July on a pan India basis." said V. K. Singhal, GM (Marketing).
Expecting a surge in demand, this year IIL has already started production from its two new production units at Dahej and Udhampur respectively.