Latest News | Sygenta Says India's Unpredictable Regulations Constrain Farm Innovation
Get latest articles and stories on Latest News at LatestLY. Swiss crop protection company Syngenta AG on Tuesday said unpredictable regulations in India are constraining agricultural innovation, even as the firm targets to become the world's top biologicals firm in the next few years by leveraging strong performance in the key market.
Mumbai, July 22 (PTI) Swiss crop protection company Syngenta AG on Tuesday said unpredictable regulations in India are constraining agricultural innovation, even as the firm targets to become the world's top biologicals firm in the next few years by leveraging strong performance in the key market.
In an interview with PTI, Steven Hawkins, global president of Syngenta Crop Protection, said regulatory uncertainty in India's highly regulated crop protection industry poses challenges for bringing new technologies to farmers.
"We believe that somehow unpredictability of the regulatory system...somehow constrains technology innovation for farmers for agriculture. This is an area where we would like to see (it) improve," Hawkins said.
The comments come as Union Agriculture Minister Shivraj Singh Chouhan recently expressed concerns over unregulated sale of biostimulants, leading to regulatory actions that have disrupted the biologicals sector.
Hawkins acknowledged the disruption, but supported establishing a regulated framework.
"It is unfortunate to have a stop sale, and disruption has happened. Farmers do not have access to the products. But I think, alternatively, if we can quickly get to a regulated environment for biologicals going forward, we would support that."
Despite the regulatory hurdles, India remains crucial for Syngenta's growth ambitions.
"India is a very important market for us. First of all, it is a large market. It is a growing market. Also, it is a market where new technologies can be highly utilised," Hawkins said.
Syngenta, currently the world's second-largest biologicals company, expects to capture the top spot globally within the next few years.
"We believe we are already number two globally, and I expect we will be number one biologicals company not only here in India but globally in the next couple of years," Hawkins said.
The company plans to launch several new products in India this year, including Tymirium, a nematicide that also functions as a fungicide. This follows the launch of fungicide Adepidyn last year after the introduction of insecticide Plinazolin in the preceding year.
The three products are each worth more than USD 1 billion in global sales - a first for the company, Hawkins said, adding that additional products are in the pipeline for registration.
Syngenta expects mid-single digit growth in India this year, depending on inflation and monsoon conditions, he added.
The company sees India's market dynamics as more favourable than larger markets like the US and Brazil, where inventory issues have been more pronounced.
"Here in India, we saw less of the issue as the market here is more balanced," Hawkins said.
The company continues to invest in digital agriculture, with more than 3 million acres on its Cropwise artificial intelligence platform. It plans to deepen integration with local farming practices to enhance yields for small farmers.
Syngenta is also leveraging India's Make in India programme, recently opening a seed health laboratory in Telangana.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)