Israeli agrochemical firm Adama to expand operations in India

Israel-based global crop protection products maker Adama Agricultural Solutions Ltd, formerly Makhteshim Agan Industries Ltd, is planning to invest up to $50 million (about Rs 310 crores) over the next 2-3 years to expand its India operations. The company has already spent around $ 60 million in setting up its headquarters and an R&D centre in Hyderabad, and a formulation plant at Dahej in Gujarat.
 
Sales from Indian operations contributed 5-6 per cent to the company's global annual $3.08 billion sales in the last fiscal. “Our India operations are growing at an annual 30 per cent as against the industry average of 9 per cent. We would like to expand our direct presence in the local market,” said Chen Lichtenstein, president and CEO of Adama.
 
Stating that both China and India provided a separate universe in terms of potential opportunity for growth, Lichtenstein said, “Indian crop protection solutions market has a distinctive advantage when compared with the Chinese as the latter has a much stronger regulatory mechanism in place.”
 
FOR COMPLETE REPORT READ: ADAMA likely to invest $50 million in 3 years