Indian agro-chemicals sector to reach US$ 7.5 billion by 2019, as per TSMG report

New Delhi: The agro-chemicals sector in India is expected to reach the market size of US$ 7.5 billion by FY 2019, growing at a compound annual growth rate (CAGR) of 12 per cent from US$ 4.25 billion in FY 2014, as per a report by the Tata Strategic Management Group. Exports are expected to contribute 60 per cent of the industry by FY 2019. Mr Narayan Yadav, Chairman of the Parliamentary Standing Committee on Agriculture, who released the report, suggested a balanced approach in the use of agro-chemicals and environmental care. He urged the scientific community to develop agro-chemicals that boost the yield without having adverse impact on the environment. The report also indicate that using original crop protection chemicals can increase productivity of crops by 25-50 per cent. The report further underscored the need for both the government and crop protection chemicals manufacturers to work closely with farmers to educate them on correct usage of pesticides and new researches and developments.

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