The seed industry in India has attained a market size of approximately $6.3 billion in the year 2022. According to IMARC Group's projections, the market is anticipated to achieve a value of $12.7 Billion by the year 2028. This growth is expected to occur at a compound annual growth rate (CAGR) of 12.43 percent within the period of 2023 to 2028. One of the primary factors that has a positive impact on the market in India is the combination of a growing population and the presence of abundant fertile lands and diverse agro-climatic zones.
Furthermore, the proliferation of commercialized agricultural practices and the synergistic partnership between private enterprises and governmental entities are driving the expansion of the seed sector within the nation. Being established in 1988, Sagarlaxmi Agriseeds is one of the leading companies in the country in this sector, that is committed to feeding the country with the best possible seeds based on R&D.
The customers within this particular sector are faced with a range of challenges, including those associated with climate change, the emergence of new pests and diseases, and fluctuations in market prices for commercial crops.
“At Sagarlaxmi, we are diligently engaged in the development of novel varieties that exhibit tolerance to both drought and flood conditions. Sagarlaxmi diligently oversees the data obtained from farmers' fields. In the event of the emergence of novel pests or diseases, agricultural experts are sought for consultation to provide farmers with guidance and solutions to address these issues.
The company has priced its products at reasonable levels to ensure that these are affordable to small and marginal farmers”, says Dilip Majmudar, Co-Founder & Managing Director.
Dilip's father Dr. J. V. Majmudar, was honored with a Lifetime Achievement Award for remarkable research contributions in the realm of Pearl Millet Improvement. In 2002, Sagarlaxmi Seeds received a DSIR certificate from the government and is renowned for its extensive array of services. Additionally, in 1972, Sagarlaxmi was granted the Hooker Award by the Government of India for introducing the inaugural Bajra hybrid HB-3 in 1968. “We have a diverse product portfolio comprising 87 varieties in 22 crops. We offer research hybrid castor seeds, wheat seeds, cotton hybrid seeds, research hybrid maize seeds and many more. This enables the company to fulfil any changing needs of the farmers at short notice.
Sagarlaxmi aspires to establish itself as a prominent seed company with a nationwide presence in India
The company has a strong research base with a large collection of breeding (germplasm) lines which have traits for disease resistance, drought tolerance and quality parameters”, speaks Dilip. The current leadership and management of the company are under the guidance of Dilip Majumdar, who possesses extensive expertise, experience, and formal education in the field of agricultural research. The company possesses a group of proficient and knowledgeable individuals whocontribute to the development and advancement of the organisation. The company's network comprises 350 distributors in the state of Gujarat, along with 5 distributors in the state of Rajasthan. The company has been bestowed with several accolades, such as the Hariom Mota Ashram Award, the Hooker Award, and the lifetime achievement award, which has been granted to individuals affiliated with the company.
Future Roadmap
Sagarlaxmi aspires to establish itself as a prominent seed company with a nationwide presence in India. The company presently operates within Gujarat, Rajasthan, Madhya Pradesh, Uttar Pradesh, and Bihar and aims to expand its presence into 3 to 4 additional states. The objective is to advocate for the adoption of sustainable and ecologically conscious technologies that effectively reduce the transfer of chemicals from agricultural practices, thereby safeguarding the environment.
The company's overarching objective is to transform the agricultural sector and establish itself as a prominent player in the global agriculture seeds industry by consistently introducing innovative hybrid seed solutions. and the goal is to create high-quality seeds that handle the difficulties facing the agricultural industry and enable farmers to produce high-quality produce.
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