Prospects in India’s Agrochemical Sector

India’s agrochemical sector is set for significant growth, with market value projected to rise from US$10.3 billion to US$14.5 billion by FY 2027-28. Exports reached US$5.5 billion in 2022, making India the second-largest exporter globally. The sector benefits from competitive generic agrochemicals and a favorable regulatory environment. The government aims to enhance efficiency in fertilizer subsidy administration and may introduce a production-linked incentive scheme to boost manufacturing and exports. Key markets include the USA, Brazil, and Japan. Reforms to streamline regulations, expedite product registrations, and improve infrastructure are crucial for maintaining growth and achieving global leadership.