Drone Didi Yojana| Use of drones for farming for spraying fertilizer and agrochemical on crop.|
The agrochemical firm has approached 2024 with cautious hope, following the challenges of 2023. In 2023, the agriculture sector’s GVA fell to 1.8%, while the underlying primary drivers for the agrochemical business remained unchanged.
The second half of 2023 saw a negative impact of destocking on the crop protection business worldwide. Weather allowing, the Indian crop protection business is expected to recover in the third/fourth quarter of 2024, suggesting a return to normality in overall market dynamics. While the area under planting for Rabi 2023 is virtually unchanged for field crops, the drop in pulses and oil seeds area under sowing is unfavourable to the sector.
Mr. Raju Kapoor highlights moderation in agrochemical dumping, technology adoption like ‘drones as a service,’ and new molecule launches. The much-anticipated increase in the utilization of ‘drones as a service’ for fertilizer and agrochemical application is a significant technological leap. It is expected to receive a significant boost with the implementation of the government-sponsored ‘Drone Didi yojana‘ plan. Better cooperation between the fertilizer and agrochemical industries will assist stabilize drones as a service model, increasing crop protection efficiency and efficacy, as well as nutritional usage efficiency.
We could also expect the introduction of novel compounds to tackle difficult weeds like Phalaris in wheat crops, as well as insecticides like pink bollworm. This is anticipated to be pushed by the regulatory body, the central insecticide board, which has stated its intention to reduce the time required for regulatory approvals of novel compounds,” he noted.
“Continued expansion in horticultural production would be beneficial to ongoing demand for fungicides. While generic drugs may face competition, the sector’s forward-thinking attitude, along with supporting government programs, may guarantee the industry returns to a growth trajectory