New Delhi, Jan. 17 -- : The Agro Chem Federation of India (ACFI) has urged Finance Minister Nirmala Sitharaman to reduce import duty on crop protection chemicals and provide fiscal incentives to private players for undertaking research and development in the upcoming Union Budget for 2023-24.
Observing that India has not invented any new crop protection chemical molecules in recent years because the cost is relatively high, Parikshit Mundhra, Chairman of ACFI in a release said that adequate incentives are needed to promote the domestic industry.
"India presently has no choice but to import to ensure that Indian farmers are not deprived of new technological crop protection solutions," he said in the release on Monday.
It also urged the go...