Loading...
India's global reputation in exporting agrochemical products
6/12/2023 11:56:04 PM

India's global reputation in exporting agrochemical products

For the financial year 2022-23, India's exports of agrochemicals reached an all-time high ($5.4 billion). The export of these materials in the last fiscal year was 4.9 billion dollars. According to data recently released by the Ministry of Commerce, India's exports of agrochemicals have increased in the last six years from $2.6 billion in 2017-18 to $5.4 billion in FY2022-23. With an impressive CAGR of 13%, India's growth is among the highest in the agrochemicals manufacturing sector. According to observers, India is now the world's third largest exporter of these products, after China and the United States, excluding the European Union. The size of India's export of agrochemicals is much more than the size of the domestic agrochemical market of this country. The global market for agricultural chemicals is estimated at 74 billion dollars. About 80% of these chemicals are out-of-patent and so-called generic products. India is the world leader in the production of generic agricultural chemical products. India's agrochemical exports could easily cross the $10 billion mark in the next three to four years.

Newsletters

For information on the latest services and Register your email products