Indian agro-chemicals sector to touch $7.5 bn by FY19

The agro-chemicals sector in the country is estimated to touch USD 7.5 billion by 2018-19 with 60 per cent of the contribution coming from exports, says a Tata Strategic Management Group report.

"The Indian crop protection industry is estimated to be USD 4.25 billion in FY14 and is expected to grow at a CAGR of 12 per cent to reach USD 7.5 billion by FY19," it said.

The report was released by Hukumdev Narayan Yadav, Chairman, Parliamentary Standing Committee on Agriculture, at a Ficci event here.

Releasing the report, Yadav suggested balanced approach in using agro-chemicals and due care for environment.
 

He also urged the scientific community to rise to the challenge of developing agro-chemicals that increase the yield but have no adverse impact on the environment.

"Training the farmers was also essential. Farmers, the users of agro-chemicals, at present, are not adequately informed about its use and impact. Many a times, farmers without knowledge apply inappropriate amount of agro-chemicals resulting in crop failure," Yadav said.

The report also suggested that use of original crop protection chemicals can increase crop productivity by 25-50 per cent, by mitigating crop loss due to pest attacks.

It is critical for both the government and crop protection chemicals manufacturers to work closely with farmers to educate them on judicious use of pesticides and new researches and developments, the report added.