India Agrochemicals Market Outlook

india is currently the second largest user of agrochemicals in the world. massive population and growing awareness about environmental issues/regulations in usage of agrochemicals have resulted in positive developments in the agrochemical industry. major government initiatives for sustainable and safe food and crop production, along with technological advancement of crop production has significantly increased the usage of agrochemical inputs on agricultural production. it has also increased the inputs cost, which, is expected to decrease the production cost in the long run. the indian agriculture sector accounts for approx. 17% of the total gdp and is an important factor for the country’s socio-economic development. the market for agrochemicals has great potential and is expected to grow at the faster rate in the future and reach about usd 3.8 billion by 2032. it is important for the growth and development of agriculture and also has multiplier effect on other sectors of the indian economy. a great demand for agrochemicals in india is linked with an increase in production of various food grains and other crops. technology has been playing an important role in improving the productivity of the agrochemical sector in india. there are availability of advanced technologies like gm seeds, drip irrigation, agrochemical inputs and modern farm practices. these technologies enable better production of crops and help in higher usage of agrochemicals. the indian government has been introducing various projects and schemes such as the national food security mission (nfsm), sub mission on agriculture (sma) and micro irrigation program for the better management of agrochemical inputs. these schemes not only boost the usage of agrochemicals in agriculture production but also make sure that the inputs are used more safely and judiciously. one of the major driver for usage of agrochemicals in india is the entry of multinational companies (mnc) in the sector. these companies bring advanced technologies and resources, which resulted in the growth of the agrochemicals market in india. there are also significant advancements in the research and development activities, which are expected to further strengthen the market. in conclusion, with the continued growth and development of agricultural sector and government initiatives, the indian agrochemical market is expected to witness strong growth in the future.