After the United States, Japan and China, India stands to be the fourth largest. One of the significant contributors to the Indian economy, the profitability of this sector has been very substantial especially since the last decade. However, the industry is being categorized by low capacity utilization. A low capacity installation of 58% was figured out, wherein the installed capacity was 146000 tons and production turned out to be 58000 tons. Moreover, factors like high R&D costs, threat from Genetically Modified (GM) seeds, efficient distribution systems and counterfeit products are some attributes that are posing to be the key challenges in the growth of this sector. However, since the Indian agrochemicals is highly dependent on monsoons, the industry is likely to grow at conservative growth of 7.5% to reach USD 1.95 bn. Insecticides, Pesticides, Bio-Pesticides, Fungicides are some of the segments covered in New Delhi, Ahmedabad, Mumbai, Kolkata and Chennai in our country.
