The year gone by presented an intriguing contrast in terms of economic growth. At 3.8%, the world economy recorded its strongest growth in the last five years whereas at 6.7%, the Indian economy posted its weakest. The increasing formalization of the Indian economy and key policy initiatives being pursued by the Government are bound to change this growth aberration to bring it to much higher levels. This would be possible even when faced with changing commodity prices, increasing global protectionist stances, geo-political realignments, the bad debt crisis in domestic banking and the imminent election in 2019.
The third Advance Estimate for food grain production pegs the output to reach 279.5 million tons, making the crop year 2017-18 (July- June) the second year in a row of record food grain production. The expected normal monsoon in 2018-19 on the back of a near normal monsoon of the previous year should help sustain the good run for the agriculture sector.
A more even distribution of rainfall across the country can bring about a substantial positive impact.The Indian Government’s resolve and its initiatives to double Indian farmers’ income by 2022 necessitate adoption of modern agronomic practices, crop diversification, better and more advanced nutrients and crop protection inputs, appropriate farm mechanization, deployment of mobile, digital data gathering, information and analytical technologies. Further, with governments striving to improve the health of their populace, the agriculture and food industry will have to keep pace and provide not just enough, but increasingly appropriate nourishment.
Indian farmers can diversify their cultivation mix – grains, vegetables, fruits, understand impact of their efforts through better information analytics, obtain better access to markets etc. propel existing players to explore and deliver to these new and vast requirements.With core values of trust, adaptability and innovation deeply rooted in our DNA, I am confident that your company would continue to grow from strength to strength in the manufacture of pesticides and agrochemical sector.I would like to conclude with a special vote of thanks to our Board members, who have been guiding the leadership team to achieve the best innovative solutions and promote a healthy growth for all our stakeholders. On behalf of the entire Board of Directors, I express my deep gratitude to all our stakeholders for their continued trust and support.
With warm regards,
Vrajmohan R. Shah