The pesticides market in the country is expected to witness 12-15 percent growth and touch Rs 33,000 crore in FY16 even as the industry is suffering heavy losses due to faulty government policies, a senior industry official has said.
"The pesticide industry is estimated at Rs 27,000 crore, which includes domestic market of Rs 15,000 crore and exports of Rs 12,000 crore in FY14.
"The industry is expected to register 12-15 percent growth, which includes domestic market of Rs 18,000 crore and exports of Rs 15,000 crore in FY16," Pesticides Manufacturers & Formulators Association of India (PMFAI) president Pradip Dave told PTI here.
However, the industry's growth has suffered losses of Rs 15,000 crore over last three years due to faulty government policies, Dave said.
"The government has been supporting imports of unregistered pesticide formulations by MNCs which is a threat to Indian farmers.
"The Agriculture Ministry refuses to provide equal opportunity platform to Indian sector which has ensured a monopoly by MNCs," he alleged.
The Indian pesticide industry has been going through a tough policy environment over the past few years, he said.
The association is demanding stoppage of imported formulation of readymade materials which MNCs are dumping in the country.
It has also demanded reduction in customs duty as the country exports Rs 12,000 crore worth pesticides, he said.
The Indian pesticide industry has the capability and expertise to produce quality products and they have excess production capacity of more than 40 percent which is not utilised due to illegal imports of pesticides, which is not in tune with Prime Minister Narendra Modi's vision of 'Make in India', Dave said.
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