Agrochemical Sector’s Budget 2024 Aspirations - News

India awaits the Interim Budget 2024-25 to be presented by Finance Minister Nirmala Sitharaman on February 1, and the agrochemical sector is urging for increased budgetary support. 
Given the 'Make in India' and ‘Aatmanirbhar Bharat’ goals, leaders from the Crop Care Federation of India (CCFI) call on boosting domestic manufacturing to limit import dependency. 
The appeal involves increasing the customs duty on imports of agrochemicals by 10 percent, considered a deterrent for Indian producers. 
The CCFI draws attention to the need for India to secure a significant share in global agrochemical trade and recommends measures such as the Production-Linked Incentive (PLI) scheme and alterations in the import duty structure. 
Further, the sector supports a cut in GST on pesticides from 18 percent to 12 percent, reducing annual losses stemming from pests and diseases, assuring farmers’ support, and increasing agricultural production. Amid climate risks and a growing population, the agrochemical sector emphasizes the importance of technological advancements under the ‘Make in India’ program for intermediates and technical-grade pesticides.