2022 was a fruitful year too, clipping a 23 percent growth, despite the hot summer and delayed monsoons. Factors such as increased crop production, healthy reservoir levels and an improvement in farm income all contributed to industry growth. With farmers learning more about improving their yields exponentially through agrochemicals, the market is set to continue its double-digit growth into 2023. Research firm Crisil predicts a growth rate of 15-17 percent this year, as the sector is poised to solve two behemoth challenges – food and nutritional security to alleviate hunger and restoration of ecological balance in our lands. Let’s look at some of the factors sustaining the momentum.
Supply chain disruptions
The import/export game is changing tides in the sector. The Chinese government’s environmental clampdown has led to the closure of approximately 35 percent small agrochemical manufacturing industries. When coupled with the US-China trade war, countries are adopting a ‘de-risk China’ strategy where India emerges as an alternate and viable global sourcing point for agrochemicals. We can expect exports to remain one of the key contributors with a share of over 50 percent in the industry’s total revenue in 2023.
Roll out of new crops
Esta historia es de la edición February 2023 de AgroSpectrum.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición February 2023 de AgroSpectrum.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Small farmers are the greatest asset to India's food security: PM Modi
Prime Minister Narendra Modi centre) along with other dignitaries at the inauguration of the 32nd International Conference of Agricultural Economists ICAE) at National Agricultural Science Centre NASC) Complex, in New Delhi on August 3, 2024.
Agri Budgeting Blues
Budgeting blues is a wonderful term to identify what you have and what is necessary to investigate the need. When one deciphers the current Budget specifically for the farm sector blues, there is little Khushi (Happiness) and more Gum (sadness).
Unlocking the Potential of Municipal Solid Waste
The more conventional methods of managing waste, such burning and landfilling, become unsustainable. Landfills, although still in widespread usage, are land-use intensive and provide long-term environmental hazards, such as methane emissions and groundwater contamination. Even while incineration is a good way to reduce trash volume, it is energy-intensive and emits dangerous emissions. Cities are looking for new and creative approaches to manage garbage sustainably as conventional approaches become less practical.
Why Energy Transition Financing is Crucial for India
The whole world is badly hit by the cost of energy, including fuel, due to the ongoing geo-political issues. India’s net oil and gas import bill reportedly stood at 122 billion for 2023-24. The Indian economy is the fastest growing economy and estimated to grow between 6.8 and 7.2 per cent in the coming years. No doubt the need for energy is ever increasing. India’s per capita electricity consumption is at 1200 units as compared to the USA which is 12000 units. Energy is a growth engine for any economy. In such a situation, focusing on Energy Transition is quite crucial, with significantly long term financing for 15-20 years in place.
Navigating Upstream Challenges in Bioenergy Sector
Bharat is at the cusp of a Green Energy Revolution’; and Bioenergy, including Biofuels, is a vital Energy Engine’ to contribute towards the Net Zero 2070 commitment made by India during COP26. Surely, we will get there with collective efforts and partnerships, as we move into COP29 at Azerbaijan this year and beyond and one is sanguine that Bharat will not only lead the 2nd Industrial Revolution but also initiate and lead the Green Energy Revolution’.
Why Ensuring Adequate Biomass Supply is Fraught with Challenges
In recent years, biomass has emerged as a promising source of bioenergy, offering carbon neutral and sustainable energy. Sourcing and procurement of feedstock in India, however, presents unique challenges due to varying agricultural land, infrastructure constraints and economic conditions. Let's take a closer look.
Leveraging Bioenergy to Revitalise Indian Economy
From the early use of fire and animal power that improved lives, to the present world with use of electricity and cleaner sustainable fuels for a multitude of purposes - energy has been the enabler of development.
Can Bioenergy Adoption End Stubble Burning Practise?
Rice is one of the primary agricultural produces in India and a major source of sustenance.
Compressed BioGas: The New Hope for Energy Independence
The global bioenergy landscape is evolving rapidly, with countries around the world recognising its potential to address climate change, enhance energy security, and promote sustainable development. India, with its abundant biomass resources and growing energy demand, is uniquely positioned to lead in the bioenergy sector, particularly in the production and utilisation of Compressed Biogas CBG). Let's delve deep as to how CBG can be a new hope for energy independence for India.
Public-Private Partnership in Bioenergy Sector
Public-Private Partnerships (PPPS) represent a collaborative approach between government entities and private sector companies to achieve goals that neither party could easily achieve alone.
