India pesticide market to reach INR 229,800 million by FY 2018
According to the report ” India Pesticides Industry Analysis to 2018
”, India Pesticide
market is projected to reach INR 229,800 million with a CAGR of 14.7% from FY’2014-FY’2018.
The Indian crop protection market is expected to witness a growth in its consumption owing to factors such as growing farmer awarness, farmers prosperity, inclining demand for organic food, increased focus on R&D, expansion of the contract farming and GDP growth.
“Several factors including rising population, inflating agricultural commodity prices, favourable rain pattern, increased adoption of new technologies and growing farmer preference towards high-value and high-quality products and others are some of the factors expected to drive the industry’s growth in the future” according to the report.