The global agrochemicals market size is projected to reach USD 315.3 billion by 2030, according to a report published by Allied Market Research. When it comes to India, a number of factors are responsible for the growth of this industry which primarily includes the acceptance of foreign formulations. Several product companies in this domain have integrated technologies and formulations that were unknown to the Indian farming industry until now.
However, every client/customer wants a timely supply of quality products, at a competitive price on a native as well as on a global scale. Ichiban Crop Science is one of those agrochemical companies that have taken care of each and every requirement of clients since its foundation. The company has brought in superior Japanese technology for better yield and has helped millions of Indian farmers until now.
Operational Excellence
The company believes in simplicity and avoids cutting corners. It has adopted the best of practices, best of manufacturing processes, procured premium quality raw material, best lab equipment for quality checks, the best equipment for manufacturing, and has recruited talented people to run the business.
Since the company’s inception in 2015, it has faced many hurdles. “For a new company Demonetization, GST implementation, and Covid are really big hurdles. In spite of all these hurdles, we have achieved an unparalleled CAGR of 31%. We are currently operating Pan India and exporting to Nepal and a few other counties,” says Dr. Nikhil Agarwal, CMD, Ichiban Crop Science.
Innovation is a key driver of Ichiban Crop Science’s business strategy. It is in the process of experimenting and looking for research-based solutions that have the ability to improve farm productivity through technological innovation in agrochemicals and capacity building on the use of technology, safe practices, etc. in the farm sector through training, farmers meetings, and various promotional activities. “At ICHIBAN, almost all the operations and activities have been standardized in accordance with international standards.
The processes are being audited by external experts; improved as per their finds. After successful result reports, our company has got certified in ISO9001:2015, ISO14001:2015, OHSAS18001:2007”, adds the CMD. The company has been able to establish state-of-the-art factories at strategic locations in different parts of the country. It has also established warehouses and branch offices across the country to make the products reach the farmers' doorsteps.
Innovation is A key driver Of Ichiban Crop Science’s Business Strategy
Looking at the Future
Till now the export unit of the company has not grown much compared to the growth in the domestic sale. For all industry players, export sales are more or equal to their domestic sales. The company has just started its export operations. So, in the coming years export will see huge growth. Also, Ichiban has started backward integration. It is manufacturing its own packaging materials. This ensures quality and timely availability. “This year we will start to manufacture technicalgrade pesticide at our Keshwana plant.
This plant will not only meet our own requirements but also have additional capacity for export and B2B sales. Covid has made us realize that we cannot depend on other countries for our agriculture. Our agriculture has to become self-reliant and the inputs that go to agriculture must also be available locally. The agro-input industry and we as a part of it are trying our best to achieve it”, concludes the CMD.
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