Indian Chemical News (ICN), the most credible online media platform for Chemicals, Petrochemicals, and Energy sector, is organizing a virtual session on "Agrochemicals: Looking for a Balanced Growth " on July 22, 2022 in the second edition of ‘NextGen Chemicals & Petrochemicals Summit 2022’. 

The two-day virtual Summit is organised on July 21-22, 2022 and the main theme is "Driving Sustainable Growth." One can register as a delegate for the virtual session by clicking on the link (https://www.indianchemicalnews.com/nextgen-chemical-and-petrochemical-summit-register )

The speakers for the virtual session are: Dr. Vishal Choudhary, Deputy Industrial Advisor, Department of Chemicals & Petrochemicals; Ravi Annavarapu, President, FMC India; Susheel Kumar, Country Head & Managing Director, Syngenta India Ltd.; and Sunil Chari, Managing Director & Co-Founder, Rossari Biotech Ltd. The event is moderated by Avinash Nayak, Principal - Energy & Process Industries, AT Kearney.

The global agrochemicals market size is estimated to grow from US $208.6 billion in 2020 and is projected to reach US $246.1 billion by 2025, at a CAGR of 3.4%. The Asia Pacific agrochemicals market is estimated to grow significantly as the region has the highest rate of population growth, increasing the need for food production and economic growth.

“India is the fourth largest manufacturer and the 13th largest exporter of agrochemicals to the world and the market has the potential to reach US $7.5 billion by 2026 from present market size of US $4.5 billion as the market is expected to grow at a CAGR of 8.6% between 2021- 2026. The industry has a tremendous potential for development with the help of research, innovation, and a quick registration procedure,” Pravin Prashant, Editor, Indian Chemical News, said.  

The government has identified the agrochemical industry as one of the 12 champion industries where India can play a significant role in the global market. The government is concentrating on the usage of drones in agriculture and has launched the Digital Agriculture Mission. Moreover, India needs new molecules that are safer and more effective. Industry must step up and introduce new molecules that are compliant with international standards.

“India has certain inherent advantages. The per hectare consumption of agrochemicals is around 0.34 kg compared to 11.84 kg for the USA. This opens up huge opportunities in the domestic market. A large majority of Indian farmers are at the mercy of the monsoon and efficient use of agrochemicals can help improve yields. Around close to 25 per cent of the total crop produced in India are destroyed due to pest attack,” Prashant explained. 

The key discussion points for the Agrochemicals session are: Market Dynamics; Regulatory Framework; Likely impact of Pesticides Management Bill 2020; Investment on Research & Innovation; Intellectual Property Regime; Introducing PLI scheme to reduce import dependence; Increasing demand for agrochemicals; Increased usage of biopesticides; and technology usage in agriculture and its impact on agrochemicals.