Summary:

According to an ACFI and EY analysis, India's agrochemical exports are expected to reach ₹80,000 crore (US$ 9.61 billion) over the next four years. The report emphasizes the need for streamlined licensing, improved infrastructure, and trade agreements, noting that exports reached ₹43,223 crore (US$ 5.50 billion) in 2022–23. It also recommends reducing the GST on agrochemicals from 18% to 5%.

Despite being the fourth-largest producer of agrochemicals, India remains heavily reliant on imports, primarily from China. With agrochemical usage at 400 grams per hectare compared to the global average of 2.6 kg, the "Make in India" initiative offers a chance to enhance local manufacturing and exports.

Source: IBEF 

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