NBIF urged the Prime Minister Narendra Modi's workplace to coordinate reforms throughout key ministries to assist an {industry} valued at Rs 40,000 crore and comprising over 5,000 small and medium enterprises.
Indian biostimulant exporters face tariffs of 15-28 per cent in key international markets, together with non-tariff limitations, together with origin-specific efficacy trials and residue testing necessities, NBIF stated in a press release.
The absence of mutual recognition agreements with main buying and selling blocs, just like the European Union and ASEAN, compounds these challenges.
Domestically, the {industry} is grappling with regulatory ambiguity and delays in product approvals below India's Fertiliser Management Order, with no devoted testing protocols for pure substances like seaweed and humic acid.
“The {industry} does not want subsidies. What it wants is evident, science-driven, and industry-aligned regulation,” NBIF President Rajit Choksi stated.India possesses vital pure benefits for biostimulant manufacturing, together with a 7,500-kilometre shoreline appropriate for seaweed cultivation and lignite-rich areas for humic acid extraction.Seaweed and humic-based merchandise comprise over 70 per cent of the worldwide USD 6.2 billion biostimulant market.Nonetheless, international corporations are more and more capturing India's home market, whereas native producers battle with regulatory clearances, in response to NBIF Secretary Basic Sahil Malik.
The federation has proposed a sequence of coverage reforms, together with declaring biostimulants a strategic sector, establishing a nationwide tariff technique activity power, and creating centralised testing amenities.
With applicable reforms, India may develop its biostimulant market from Rs 4,000 crore to Rs 15,000 crore by 2030 whereas creating employment for over 1,00,000 agricultural employees and biotechnology professionals, NBIF stated.
