PMFAI: India Is Fast Emerging As a Global Manufacturing Hub for Agrochemicals
India is the fourth largest global producer of agrochemicals after U.S., Japan, and China. The Indian agrochemical industry — with strong basic manufacturing set up, proven track record, and competency — offers quality pesticides to domestic and global markets.
According to the latest data released by WTO, India has emerged as the second largest exporter of agrochemicals in the world, which was sixth 10 years back. In the financial year 2022-23, agrochemical exports from India reached US$ 5.4 Billion (Rs. 43,223 crores), up from US$4.9 billion (Rs.36,521 crores) in financial year 2021-2022. This remarkable performance on the export front is due to Indian agrochemical industry’s capabilities in bringing innovative products to the market. The U.S. is the largest buyer of India-made agrochemicals, followed by Brazil and Japan, which is testimony of the high quality products offered by India to over 140 countries worldwide.
India is fast emerging as major global manufacturing hub for agrochemicals due to low manufacturing cost, low labor cost, technically trained manpower, and high production capacity. The expertise of Indian companies in the generic segment, producing wide range of world class technicals and formulations significantly contributed to the growth in India’s exports.
With the encouragement and support from the Government of India for R&D in the agrochemical sector, many Indian companies are involved in backward integration, to manufacture multiple products from the basic stage.
Pesticides Manufacturers & Formulators Association of India (PMFAI), the national association representing the Indian agrochemical industry with 221 large, medium, and small-scale industries as its members, has played a crucial role in the growth of the Indian agrochemical sector. PMFAI has played important role in promoting exports of agrochemicals from India by organizing International Crop Science Conference & Exhibitions (ICSCE) in various countries since 1997. PMFAI has already organized 17 conferences and exhibitions in India and abroad and had taken several trade delegations to various countries. When PMFAI first organized ICSCE in 1997 in Mumbai, India, total agrochemical exports from India was just US$60 million (Rs.270 crores). It now stands at US$5.4 billion (Rs.43,223 crores). PMFAI is organizing the next ICSCE 2023 on 7-8 September 2023 at the Hyatt Regency Gurgaon, New Delhi NCR, India.
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