Hyderabad: Insecticides (India) has formed a joint venture with the Japanese firm Otsuka AgriTechno Company to conduct joint research on new products. The JV partners would invest Rs 100 crore in the next three-four years on the research and development centre that is coming up at Bhiwadi (Rajasthan).
“We will be investing Rs 50 crore initially. The remaining investment would be infused in the subsequent years depending on the progress made there. It would have 50 employees initially,” Rajesh Aggarwal, Managing Director of Insecticides (India), told Business Line.
The Japanese firm would hold 70 per cent in the joint venture, with the Indian firm retaining remaining 30 per cent.
“The JV will allow both partners to tap into skilled yet relatively inexpensive technology talent in India to develop new molecules for global markets, including India and Japan,” Rajesh Aggarwal said.
“OAT would bring in its expertise in research and development and know-how. The JV would mainly focus on research and invention of new agricultural chemicals,” he said.
The centre is expected to begin work by the middle of next year. The team would comprise scientists from both India and Japan. We are hoping to come out with about four-five molecules in THE next five years. We will primarily target insecticides and herbicides,” he said.
The Tokyo-based Otsuka AgriTechno manufactures and sells agricultural chemicals and fertilisers.
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