"India has emerged as a favourable option for countries seeking to reduce their dependency on China"

Safex Chemicals India Limited is a prominent agrochemical company with over 500 employees and a wide network of 10,000 distributors. The company is a leading player in the manufacture and sale of crop protection products across India, operating in 17 states. Over the past five years, Safex has achieved an impressive revenue performance with a Compound Annual Growth Rate CAGR) of more than 25 per cent. Shedding light on the company's future plans and the current status of the agrochemical industry, S K Chaudhary, the Founder and Director of Safex Chemicals, shares his insights in an exclusive interview with AgroSpectrum. Edited excerpts:

- Dipti Barve

How do you envision the future of the agrochemical industry in India? 

The Indian agrochemical industry is currently thriving and shows promising prospects for the future. Given the evolving global political landscape, India has emerged as a favourable option for countries seeking to reduce their dependency on China, leading to the expectation of significant growth in international trade. Even the domestic industry is flourishing, witnessing a remarkable CAGR of 7-8 per cent per annum.

Safex Chemicals recently announced a substantial investment plan of Rs 1 billion in its new agri-tech arm, AgCare Technologies, to be accomplished over three years. Could you elaborate?