PI Industries unveiled Pioxaniliprole, India’s first indigenously discovered insecticide molecule, to help improve farm productivity. The molecule received registration from the Central Insecticides Board and Registration Committee. MD Mayank Singhal said, "Developing a new molecule in the agricultural chemicals sector involves significant risks and investment." The company spent ₹2,000 crore on R&D.
PI Industries has invested ₹2,000 crore in R&D over the past 10-12 years, with its MD Mayank Singhal expecting more innovations over the next five years.
PI Industries has unveiled Pioxaniliprole, which the company describes as India's first indigenously discovered insecticide molecule, to help improve farm productivity. The molecule has received registration from the Central Insecticides Board and Registration Committee (CIB&RC), Vice Chairperson and Managing Director Mayank Singhal said.
Singhal said Pioxaniliprole underwent extensive evaluation under Indian agricultural conditions, including field trials across multiple locations, regulatory studies and scientific assessments conducted in collaboration with State Agricultural Universities.
He said the company has made long-term investments in research and development (R&D), covering molecular discovery, formulation science, toxicology, agronomy and process development.
PI Industries calls for stronger patent protection
Singhal told CNBC-TV18 that developing a new molecule in the agricultural chemicals sector involves significant risks and investment. Typically, it takes 10-12 years and the screening of 1 lakh molecules to identify one that makes it through the development process, he said.
PI Industries has spent ₹2,000 crore on R&D over the past 10-12 years and expects to introduce more innovations over the next five years, Singhal said.
He noted that patents typically last 20 years and called for India to consider the concept of "near-patenting" to help extend patent life, as practised globally. He said the issue needed to be addressed through a policy framework, adding that data protection was important given the time it takes for innovation cycles to deliver value.
PI Industries on Kumiai, Pyraxosulfone and global agrochemical demand
On Kumiai's decision to cut its guidance and the potential impact on Pyraxosulfone sales, Singhal said PI Industries and Kumiai had been deep-rooted partners for more than five decades and were working closely to compete with global players.
On global agrochemical demand, Singhal said the destocking phase appeared to be over, while weather conditions continued to play an important role in agriculture.
However, commodity prices had shown little improvement in markets such as the United States, Brazil and India, he said. Excess capacity in China and the resulting oversupply of products to several markets were also reshaping the global agricultural landscape, Singhal added.