Agrochemicals Market in India 2023

Market Insights
It is projected that India's agrochemicals business will grow more quickly because of the nation integrating farming practices and positive trends. The landmass can be utilized for agriculture, but because of the rising influence of urbanization, it is rapidly diminishing, which encourages farmers to use various agrochemicals to raise land productivity and maintain soil health. However, farmers are spending more money on agrochemical seed treatments that assist in ensuring disease resistance as well as better and more uniform germination. With 13,175 Metric Tons (MT), the state of Maharashtra occupies the top spot in terms of chemical pesticide consumption. This is followed by the states of Uttar Pradesh (11688 MT), Telangana (5090 MT), Jammu & Kashmir (4086.32 MT), and so on. As of FY 2022, the biggest volume of agrochemical exports was for insecticides, valued at INR 364.97 billion, followed by fungicides, INR 119.75 billion, and herbicides, INR 72.98 billion.

Market Influencers:

The two significant factors propelling growth in the crop protection sector are the need for food grains and growing knowledge regarding the importance of crop protection chemicals to prevent crop loss. India also plays a big part in the global supply chain, and the government has recognized the potential of agrochemicals as one of the champion pillars of its economy. India's crop protection industry is increasingly making use of its R&D facilities as it advances to create better solutions that are safer, more efficient, and compliant with international standards.