PI Industries invests Rs 2,000 crore in India’s first indigenous insecticide molecule, eyes global markets
Hyderabad, Oct 31 (TNT): Gurugram-based PI Industries Ltd has invested around Rs 2,000 crore in research and development to develop India’s first indigenously discovered and patented insecticide molecule, Pioxaniliprole, and is preparing to take the product to international markets, company Vice-Chairperson and Managing Director Mayank Singhal said on Saturday.
Launching the product, marketed as Pioxazon (Pioxaniliprole 20% SC), Singhal said the company was initially targeting three overseas markets and was evaluating opportunities to expand its presence globally.
The product would be manufactured at its existing facilities, which had adequate capacity to meet domestic and international demand, he said.
Pioxazon has been developed for rice, maize and Bengal gram crops to control Yellow Stem Borer, Fall Armyworm and Pod Borer respectively. It has received registration from the Central Insecticides Board and Registration Committee (CIB&RC).
The company plans to introduce four stock-keeping units (SKUs) in different pack sizes and is yet to finalise the pricing. The product would be introduced into the market on November 6, he said..
Stating that the company’s immediate priority was to familiarise farmers with the new product, he said the first season would focus on field demonstrations and educating farmers about its benefits rather than large-scale sales.
Singhal said the development of a new crop-protection molecule generally takes five to ten years. PI Industries had several other molecules in its research pipeline and expected to announce two more products over the next five years.
The product had been evaluated through multilocation field trials under diverse growing conditions, he added.
Saket Bhatnagar, CEO – India Brands, PI AgSciences, said the product offered rapid absorption within 30 minutes of application, rainfastness, prolonged pest control and translaminar action, besides being safer for beneficial insects.
He said the company would reach farmers in rice, maize and Bengal gram-growing regions through its distributor and retailer network, supported by field demonstrations and farmer training.
Singhal said Andhra Pradesh and Telangana together contributed around 20–25 per cent of the company’s revenue, making the two states an important market for its products.
Describing Pioxazon as a milestone in India’s agricultural innovation, he said the country had traditionally depended on crop-protection molecules developed abroad, while the new product demonstrated India’s ability to discover, develop, register and commercialise its own proprietary technology.
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