India: Agrochemicals Industry Body ACFI Seeks Cut in Import Duty For Crop Protection Chemicals

Outlook India reports the Agro Chem Federation of India (ACFI) has demanded that the government should cut import duty on crop protection chemicals in the upcoming budget and also provide fiscal incentives to private players for undertaking research.

The ACFI is an industry body representing manufacturers/ importers of technical and formulation of pesticides at the pan-India level.

“India presently has no choice but to import to ensure that Indian farmers are not deprived of new technological crop protection solutions,” ACFI Chairman Parikshit Mundhra said in a statement.

He urged the Union Finance Minister to reduce import duty on crop protection chemicals. Mundhra demanded that there is a need to provide fiscal incentives to private sector players to undertake research and development in the agriculture sector in association with KVKs (Krishi Vigyan Kendras).

ACFI also demanded that the GST on crop protection chemicals should be brought down to 5% as in the case of fertilizer. The Federation said that the current GST of 18% on the chemicals is not in the interest of small and marginal farmers as they have to shell out more money to purchase the crop protection chemicals.

Read more at Outlook India.