Page 179 - CW E-Magazine (27-8-2024)

Special Report

provides incentives for goods manufac-
tured in India. Including agrochemicals
in the PLI scheme and regulating the
import of agrochemical formulations
could attract new investments and sup-
port the government’s ‘Make In India’
efforts.

4000
Despite these challenges, the Indian 4000 + +
agrochemicals sector remains resilient,
driven by innovation, strategic invest-
ments, and a favourable regulatory
environment.

REFERENCES
1. https://www.spglobal.com/com-
modityinsights/en/ci/research-ana-
Fig. 5: Trade balance in agrochemicals [Rs. Crore] lysis/global-crop-protection-market-
lenges such as stiff competition from India currently lacks the availability provisionally-up-6-in-2022.html
cheap imports, particularly from China, of yellow phosphorous, which limits 2. https://www.spglobal.com/com-
which can impact profi t margins for the production of certain intermediates. modityinsights/en/ci/products/agri-
Indian producers. Moreover, global The country also lacks mega produc- business-crop-science.html
LAB SCALE
economic slowdowns and unpredict- tion facilities like those in China. 3. https://news.agropages.com/News/ CENTRIFUGES
able weather patterns pose additional Additionally, agrochemicals are excluded NewsDetail---49338.htm
challenges by causing fl uctuations in from the government’s Production 4. Shandong Weifang Rainbow Chemi-
demand for agrochemicals. Linked Incentive (PLI) scheme, which cal Company Annual report, 2023.
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