14 January 2022, New Delhi: The Agrochemical sector is emerging as one of the champions sector that can become a major global supply hub if provided with better facilities. This has been facilitated due to disruption of supplies from China and everybody looking for a second source.
The Government should provide regulatory and tax concessions to catch hold of the opportunity. The Indian pesticides and fertilizers market can witness a significant boost in supply and development. Considering the financial aspects of things, 2021-22 is proving to be a highly crucial time for the agriculture industry. With the union budget 2022-23 just around the corner, keeping in view Prime Minister Modi’s commitment to double farmers income, we expect an increased allocation for the sector. Even though the third wave is surging, we believe that the industry will not be impacted so much, especially when the Government is focused on building a perfect agro environment.
We anticipate that the Government will initiate some remarkable steps to foster the growth of the agrochemical industry, said Mr S.K Chaudhary. The key areas where we expect reform is ensuring predictability, consistency, and rationalization of levies and taxes. This would help us promote innovation and investments in the sector to achieve a better productivity vision.