Insecticides (India) Ltd to expand capacity

Insecticides (India) Ltd has announced a ₹200-crore expansion plan to increase its capacity in the next three years. In the first two years, it would spend about ₹100 crore, followed by an investment of ₹100 crore in 2020.

The firm is planning to set up an Export Oriented Unit (EoU) in Gujarat with an eye on increasing export component of the business. Exports contributed about ₹35 crore in the total turnover of ₹1,109 crore in 2017-18.

The firm has a share of about 5 per cent in the ₹18,000-crore crop protection market in the country.