Monsanto Chemicals of India (MCIL) will introduce at least six new formulations as part of a plan to increase its turnover from Rs 100 crore to Rs 500 crore over the next five to seven years. We are targeting a 30 per cent growth every year in the herbicides business, said Raj Ketkar.
Among the new products will be Spark, Polaris, and more products in the Round Up category, including the dry version of Round Up. While the company is currently carrying out field tests for these products, the names of the products might be changed when they are introduced in India.
Besides, the company is conducting feasibility studies for the introduction of insect resistant transgenic seeds of corn and soybean. While Mahyco could be the partner in marketing for these products, new joint ventures too could be set up for their marketing, said Monsanto executives.
Meanwhile, GD Searle has extended the licence given to the RPG group for using the Searle brand name in India. RPG officials said GD Searle officials will be in India by the first week of April for the second round of discussions relating to the proposed pharma joint venture with RPG.
