Insecticides India to focus on exports to boost growth

After establishing itself as a key player in India’s agrochemicals space, Insecticides India Ltd has now set its sight on the international markets with major plans to enter into the export domain starting from Asian and African markets. The company is planning to give a major push to increase its export presence, with an immediate aim to achieve a sales target of up to Rs 20 crores from exports next year.
 
Insecticides India Ltd (IIL) is one of the country’s leading agrochemical companies having a strong product portfolio has over 100 brands under its banner, and is aiming for a Rs 1200 turnover by 2016.
 
“Since the company’s inception, we have worked aggressively to tap all Indian states and markets and take our products to the last Indian farmer. Having achieved this goal to a large degree, we are now ready to spread our wings outside India in a big way. Our recently added plant in Dahej is now working to almost its full capacity, and we have also ramped up production in other five plants to be able to achieve enough surplus production this year for exports. Our initial focus will be countries from Asia & African continent,” said Rajesh Aggarwal, managing director, Insecticides India Ltd.

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The company has acquired a dedicated office in Mumbai to cater to its export segment and has also put in place a new team to start the exercise.
 
In the last two years, Insecticides India has also turned its attention to greater investment in R&D and production of new indigenous molecules. The company’s long term targets include introducing new molecules with tie-ups and international collaborations. As a part of this strategy, Insecticides India has formed a joint venture with Japanese firm OAT Agrio Co Ltd to set up a dedicated R&D centre for the invention of the new chemical entities in India for international requirements. This R&D centre targets to come out with 2-3 new molecules within next five years.