The agrochemical and pesticide sector has encouraged the government to enhance funding for agriculture in the upcoming Budget to improve farming infrastructure in all sections of the nation and double farmers' income.
According to Rajesh Aggarwal, Managing Director of Insecticide India, "We anticipate this budget, which will surely focus on agriculture, as it has in previous years, as agriculture has played a critical part in these pandemic times. Increased funding for better farming infrastructure in all sections of the country are also on our wish list."
He also stressed the importance of lowering input costs to the greatest degree possible in order to help farmers. "The crop protection industry looks forward to the government's assistance for research and manufacturing in India. A better system for improved produce prices is another concern that must be addressed "he stated
SK Chaudhary, founder and director of Safex Chemicals, believes that the country's agrochemical industry is growing as one of the leaders, with the potential to become a significant worldwide supply hub if better facilities are supplied.
"This has been made possible by the interruption of supply from China, which has led to everyone seeking a backup source. To seize the opportunity, the government should offer regulatory and tax breaks. The pesticides and fertilisers industry in India is expected to grow significantly in supply and development "According to Chaudhary.
When it comes to the financial side of things, 2021-22 is shaping up to be a pivotal year for the agriculture business. " We anticipate a higher allocation for the sector in the Union budget for 2022-23, in light of Prime Minister Modi's vow to double farmers' income. Despite the fact that the third wave is gaining momentum, we believe the industry will be relatively unaffected, especially because the government is focused on creating an ideal agricultural environment.
We expect the government to take some significant initiatives to promote the agrochemical industry's growth. Predictability, uniformity, and rationalisation of levies and taxes are three major areas where we expect reform. This will assist us in promoting innovation and investments in the industry in order to reach a higher level of productivity," Chaudhary remarked.
