Indian agrochemical industry achieves favorable balance of trade

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In the financial year 2021-22, Indian agrochemical exports amounted to INR 36,521 crore against imports of INR 13,363 crore, creating a trade surplus of over INR 23,000 crore, a rare feat for any industry, according to Krishak Jagat.

Rajju Shroff, President Emeritus, Crop Protection Federation of India (CCFI), speaking on the achievements of India’s agrochemical industry, said, “Our Prime Minister Shri Narendra Modi, while addressing the Niti Aayog board meeting, stressed the need to increase the exports less dependent on imports. We, involved in the agrochemical industry and agriculture, are very confident that we can increase the export of agricultural inputs and simultaneously increase the export of food. Today, India is the second largest producer of agricultural commodities in the world with an output of US$481 billion for the year 2020-21.

In FY 2020-21, imports of agrochemicals jumped 37% and about 50% of imports came from China, mainly due to favorable import regulations. The increase in imports reduced the capacity utilization of domestic industries and increased costs.

There are problems faced by India in exporting rice, tea or even mangoes where we are among the largest producers in the world. The industry is actively analyzing the situation and looking for solutions to help increase food exports by almost 100%.

Some foreign-funded environmental activists are against the use of pesticides, which is the main input to reduce crop losses in farmers’ fields and in storage. The narrative about the indiscriminate use of pesticides by Indian farmers is incorrect if the data is any indication. India uses nearly 60,000 MT of pesticides and produces $481 billion worth of agricultural products, compared to European Union countries, using 250 lakh MT of pesticides and producing less than $200 billion worth of agricultural products, even though the EU has more land than India.

Learn more about Krishak Jagat.

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