After expanding to Europe and the U.S., Indian companies target Latin America.
BY CHARLES NEWBERY
BUENOS AIRES -- For India’s United Phosphorus, a $700 million push into Latin America is paying dividends.
The Mumbai-based maker of agrochemicals and seeds has acquired seven companies in Argentina, Brazil, Colombia and Mexico over the past six years. The attraction is clear: Latin America has sweeping and fertile farmlands with ample water resources, traits that have made it known as the breadbasket of the world – and an envy of China and India, both of which lack productive land and water for expanding crop output to feed a growing populace. Farmers in Latin America are stepping up the use of chemicals, fertilizers and technology to boost productivity, making it possible for Brazil, for example, to become a tropical farm power. This bodes well for United Phosphorus and peers like Punjab Chemicals and Crop Protection and Indian Farmers Fertiliser Cooperative.
“We will make more acquisitions,” says United Phosphorus executive director Vikram Shroff.
The firm entered Latin America in ...
Keywords: G-Square Trading, Havells, Surana & Surana International Attorneys, Suzlon Energy, Tata Consultancy Services
CHART: Indian-Latin America Trade 2009 and 2010