The latest patented compounds will be put to use as active ingredients for several insecticide and fungicide compositions for horticultural and agricultural utilization.
The managing director of Insecticides India said to BusinessLine that their team believes in R&D, and they are constantly putting efforts into it right from its inception. IIL is putting its focus on the development of insecticides and pesticides significantly.
Insecticide R&D in IIL
To protect innovations, patents are filed in several segments. Different R&D centers are putting efforts into distinct themes, and these 2 patents that are granted are the results of hard work and dedication of the joint venture of IIL with OAT Agrio.
It has 17 granted patents in India, and over a dozen patents are in the process. The R&D center is working on patent filings, innovations, and registrations of products for providing innovative and latest technologies to the farmers.
The company assumes that the patented agrochemical compounds and other under-development products are going to assist the farmers in protecting their crops better, eventually boosting their yields, as per the information mentioned in the BusinessLine.
New insecticide development
It is very early to assume the revenue from all these patents. All these products need to go through a tough registration process because these 2 novel compounds are invented for the first time around the globe. IIL is working on developing several advanced items for farmers based on the novel compounds. It is expected that the launch will take place by 2026-2027.
With the introduction of new products, the profit will continue to rise every year. A range of new products are also launched by IIL, and the expansion is complete as well. Even if the prices of raw materials have increased and it is known how to sell the products, IIL expects to expand its margin with new products in the market.
IIL’s takeover of the international market
The latest products will be available in the international market as per the agreement between the IIL and OAT Agrio. The marketing will be done by OAT Agrio in a few territories and the rest by IIL.
The future of insecticides and pesticides in India is in good hands. Recently, cumin imports were banned for pesticide revenue. As the world shifts towards more organic cultivation, India’s rising demands cannot be met with traditional practices alone and require a pharmaceutical boost. Whether this will lead to even further toxicity of the soil, droughts and more harmful residue in crop yields, remains to be seen.