The Indian Chemicals industry stands 6th globally in sales values. The market size of the Indian Chemicals industry was around US $220 billion in 2022 and is expected to touch US $300 billion by 2030. According to McKinsey, Indian chemical industry will grow to US$ 800 billion – US$1 trillion by 2040.

Among chemicals, the Indian agrochemicals sector is one of the fastest-growing industries in the country, with a market size of around US $6.5 billion. The industry caters to the needs of the agricultural sector by providing a range of products such as pesticides, insecticides, fungicides, and herbicides.

Indian agrochemicals sector has been witnessing a significant growth in recent past due to various factors such as increasing demand for food, rising population, and favourable government policies.

According to the Food and Agriculture Organization (FAO), farmers will have to feed an estimated 9.7 billion people by 2050, necessitating a productivity increase of 50% over the next 20 - 30 years. The government has been taking pro-active steps to promote the sustainable and balanced use of agrochemicals to increase food grains production.