Agrochemical firm, GSP Crop Science has got a patent for its synergistic suspo-emulsion formulation of Pyriproxifen and Diafenthiuron (branded GSP SLR 525 SE Formulation) used to control the whitefly infestation.
The patent has been issued by the Office of the Controller General of Patents, Designs, & Trademarks, which is a subordinate office under the Department of Industrial Policy and Promotion.
GSP SLR 525 SE and whiteflies
GSP Crop Science is the first Indian agrochemical company to manufacture Diafenthiuron technical locally in India, and has also been exporting to various countries. GSP is also the first to produce this unique combination of Diafenthiuron + Pyriproxifen in an SE formulation, the company said in a statement.
Whiteflies have been a cause of direct and indirect damage of yields in agriculture, horticulture, and forestry crop plants and have become a major cause of concern in the country. As per the statistics, approximately 1.35 hectares of coconut and oil palm in India are affected by whiteflies.
GSP’s new insecticide formulation SLR 525 SE controls and manages effectively all life stages of the deadly whitefly pest, which has devastated cotton. It is effective on the plant surface due to its fast and evenly spreading and trans-laminar action. Being a water-based solution, it eliminates the harmful effects of solvents used in formulation on the environment, the company said.
Expected revenue and market growth
GSP Crop manufactures a wide range of “technical” and “formulations” of insecticides, fungicides, herbicides, and plant regulators for Indian agriculture and farmers’ community.
Commenting on the patent, Bhavesh Shah, Managing Director, GSP Crop Science Pvt Ltd, said, “After almost eight years of blood, sweat and tears with the help of our R&D and legal team, GSP has been granted a patent for a combination product that will be of great advantage to the farmers. Our product, SLR 525, which helps fight pest attack of whitefly in vegetables and cotton, is the first of its kind in the Indian market. We project this molecule to generate revenue of almost ₹400 crores yearly within the next few years. We expect the market for this product to grow even further.”
Shah believes GSP Crop can massively grow its market share of this whitefly business in FY23.
With a financial turnover of ₹1200 crore and four manufacturing units in Gujarat and Jammu & Kashmir, GSP Crop Science has more than 70 branded products - which is marketed by 5,000 distributors, 30,000 dealers, and 34 depots in India and exports to 25 countries.