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Research and development (R&D) is the innovation engine of the agrochemical industry and is crucial for driving growth. The industry is on the verge of constantly evolving technology to meet a wide range of demands, with R&D taking precedence. Over 3,000 crores of rupees have been spent on R&D by Indian corporations in the form of land, buildings, equipment, trials, and registration. This represents 5% of the agrochemical sector's overall revenue, which has significantly increased in recent years. The argument for the crop protection chemicals sector is becoming stronger with innovation driven by R&D exports. Agrochemical companies are increasingly focusing on introducing new formulations in their R&D capabilities and product mix to gain an edge.

India has risen to become the second-largest exporter of agrochemicals globally in 2022, with exports valued at $5.5 billion. By 2025, India's agrochemical market is expected to grow to $18.1 billion USD. The sector will depend on growth-promoting factors such as considerable R&D activity, policy changes affecting trade, marketing, production, manufacturing, product registration, and IPR to maintain its pace. The 2nd Annual Agrochemicals R&D and Innovations Summit in 2024 will discuss insecticides, fungicides, herbicides, plant growth regulators, and fertilizers, and it will concentrate on how to make India a significant exporter of agrochemicals to other countries.