India is an agro-based country. But owing to the excess urbanization all across the country, a shortage in agricultural land has been observed. In order to get to a solution, the farming communities are trying to increase productivity on a per acre basis. For instance, Japan is one of the most successful nations which has significantly increased the productivity from agriculture.
If Japanese agricultural technology could be implemented in India, it can not only achieve surplus production for the population but also become one of the prime exporters for agriculture commodities. “We are very confident that India will match Japan in terms of productivity. The technology that has helped Japanese agriculture to boost its productivity will also help India to achieve the same, as both the countries have similar land holding pattern,” states Dr Nikhil Aggarwal, M.D, Ichiban Crop Science.
Growth Story
Though Ichiban started operations in 2015, the management were veterans in this industry. Those involved with the company have decades of experience in the agriculture ecosystem. With that knowledge they have integrated Japanese technology into agrochemical products for business in the Indian market.
They have already been recognized by the farming community as a new company that brought Japanese technology to theirvillage, to their field. They have grown confidence on the products.
According to Dr Nikhil, Ichiban products and recommended practices can reap huge benefits. Their channel partners have great respect for their recommended crop-specific agricultural practices and products. He states, “For us, it is just a good start. Now, we have a platform to achieve our mission and vision which were very clear from the very beginning.”
With more than 100 products out in the market, the company currently has two formulation units with operations all over India and Nepal
Ichiban wants to convey the idea that improving agricultural productivity with better agricultural practices using safer and more effective agri-input is its sole objective. They are giving far better return on investment (RoI) to the farmer with the usage of their products. The return they are getting is both immediate and prosperous for the long term as well. Their new verticals of Soil health & Plant nutrients from Japan are quickly earning the reputation for Ichiban.
The Road Ahead
Ichiban Crop Science achieved a turnover of 111 Crore INR only in the first financial year, in 2016-17. They have installed their first formulation unit in 2016 and the second in 2020. Ichiban is looking at a revenue of 250 Crore INR for the current financial year (2019-2020). With more than 100 products out in the market, the company currently has two formulation units with operations all over India and Nepal.
“For us, it is just a good start. Now, we have a platform to achieve our mission and vision which were very clear from the very beginning”
Ichiban plans to start its export division from the next financial year and wants generate a revenue that is more than the domestic revenue. Talking about other plans for the growth of the company, Dr Nikhil concludes, “Our next target is to establish the technical plant for which we have acquired land. This backward integration will be a big achievement for us. The plant which we are planning will not only meet our entire in-house requirement but will have a big spare capacity. We will provide world class manufacturing facilities for companies who wish to manufacture technical-grade pesticides or intermediate at a location considered central to Indian agriculture.”
