Agriculture is one of the biggest industries in India which massively contributes to the GDP. It also provides employment to a large of people. However, the growth of counterfeit agro products has led to a downfall of the Indian agro-industry. For example, fake pesticides make up almost a quarter of the market exposing farmers, their crops and the environment to many harmful side effects.
The big problem with fake sub-standard, duplicate or spurious agrochemicals is that they cause more harm to the crop yield than the pests. Experts suggest that with the growth of population and subsequent rise in demand for yields there has been a massive need for agrochemicals. The Federation of India Chambers of Commerce and Industry (FICCI) expects the turnover of the Indian agrochemical industry to double to $8.1 billion by 2025.
India is an ideal market and a potential destination for agrochemicals producers. It is also a risky market where counterfeit and harmful imitations compete with original pesticides, fertilizers, and soil nutrients. Agrochemical companies whether big and small are eager to establish manufacturing hubs in India because of low processing costs and availability of cheap labour.
Despite the enormous growth large quantity of agrochemicals in the Indian market are not authentic which implies that they may be counterfeit, spurious, adulterated or sub-standard. These cheap grades are completely ineffective in destroying pests.
Let’s discuss some of the factors behind the growth of counterfeiting in the agrochemical industry in India.
1.Lack of knowledge among end-consumers/farmers: One of the biggest reasons behind the growth of fake products in the agrochemical industry is the lack of knowledge about genuine products among consumers. Illiterate farmers usually do not check the product authentication features and just go for the cheap price.
2.Rare adoption of anti-counterfeiting solutions by companies: Many agro-chemical manufacturers do not implement anti-counterfeiting solutions in their products. This makes their products highly susceptible to duplication, tampering and even diversion.
3.Lack of stringent regulatory measures: Lack of strict regulatory measures against counterfeit products and poor laws against counterfeiters has led to the rapid rise of counterfeit agro-chemical products.
In case if you are from the agro-chemical industry and want a robust anti-duplication solution for your product then you may call us on +91–785-785-7000 or drop us a mail at connect@holostik.com.
