It’s India’s Time to Step Up in Agchem Market
According to data from Kleffmann Group, India is the fastest growing major agchem market (it’s the 5th largest globally) in the world. It’s also one of the largest manufacturing markets for these products. With China shutting down manufacturers violating environmental regulations, along with arresting and fining executives, concern over supply availability is understandable and reasonable.
India has an opportunity to seize market share if industry executives are willing to take a chance. Yes, there is risk involved. Few opportunities come without a downside. China, if it senses it’s losing too much business, could cut back on the environmental regulations. Other countries could also step up their manufacturing.
Let’s look at a few of the facts: In an article from Kleffmann’s Drs. Puran Mal and Bob Fairclough, “the World Bank, the Indian economy will see a robust GDP growth of 7.3% in this financial year and 7.5% the next two years as ‘factors holding back growth in India fade.’ These figures allow India to retain the tag as the world’s fastest growing major emerging economy and one that has consistently been a good couple of points over and above the global GDP growth rates since the financial crash of 2009.”
A growing economy and a strong manufacturing base. The only question is does India have the will, determination, and patience to invest the time, money, and energy into expanding its capacity. Ironically, for this to pass, India will need to work with China. It’s part of the message CS Liew, Managing Director of Pacific Agriscience, laid out during on the AgriBusiness Global Trade Summit in July.
Liew decided to build on that message with The Indian-Chinese AgChem Manufacturing JV Workshop. AgriBusiness Global is the official media partner for the event. According to Liew:
China has what India Needs: Regarding raw materials and investors that could rapidly increase infrastructure, capacity, and molecule production.
India has what China Needs: As far as a stable, low-risk agchem manufacturing base to help them mitigate the risk of losing key buyers.
For more information on The Indian-Chinese AgChem Manufacturing JV Workshop, including registration details and full agenda, please contact Candy Yeung at [email protected] or call +852 93221317. CS Liew can be reached at +65 96349079 or [email protected].