Agri Business

Insecticides (India) charts ₹200 cr expansion plan

KV Kurmanath Hyderabad | Updated on June 01, 2018 Published on June 01, 2018

To set up export unit in Gujarat

Insecticides (India) Limited has announced a ₹200-crore expansion plan to increase its capacity in the next three years. In the first two years, it would spend about ₹100 crore, followed by an investment of ₹100 crore in 2020.

The firm plans to set up an export-oriented unit (EoU) in Gujarat with an eye on increasing export component of the business. Exports contributed about ₹35 crore to the total turnover of ₹1,109 crore in 2017-18.

The firm has a share of about 5 per cent in the ₹18,000-crore crop protection market in the country.

“We have over 100 partners in different countries. We are going to add 50 more to help our export market grow,” Rajesh Aggarwal, Managing director of Insecticides (India), has said.

Rajesh Aggarwal was here in connection with the launch of four new products (Encounter, Sofia, Aikido and hercules) to tackle pests and diseases for the upcoming Kharif season.

Asked about the prospects of growth for the industry in the face of opposition to chemical pesticides, he said judicious use of crop protection products would help increase productivity. “The consumption of pesticides is high in 8-9 States in the country. The same States report high farm output,” he said.

“The pesticide market in the country was poised to grow. Our pesticide consumption is very low when compared to some countries. Our average consumption is put at 0.5 kg a hectare as against 2-3 kg a hectare in some countries,” he said.

“The global market size for pesticides is $65 billion, while the size in India is only $3 billion,” he said.

Published on June 01, 2018
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