Govt explores tax sops, import curbs to make agrochem sector self-reliant

In an effort to boost domestic production and make the agrochemicals sector atmanirbhar (self-reliant), the government is exploring tax incentives and infrastructure development, among other suggestions pooled, for the industry.

Sources in the know said the Centre was also looking at increasing Customs duty on formulations, agrochemicals, and pesticides falling under different Harmonized System of Nomenclature codes from 10 per cent to 20 per cent, with an eye on curbing their imports from China.

The agriculture ministry, along with NITI Aayog and the commerce department, is driving the discussions with key industry players.

While India’s agrochemicals sector has a presence