“The year 2023 has presented several challenges for the global agricultural industry. Input price fluctuations, pest attacks and extreme weather events have compounded difficulties. However, despite these challenges, the industry has demonstrated remarkable resilience, underscoring the importance of sustainable farming practices. Even in adversity, these practices have proven pivotal in ensuring stability and sustainability in agriculture. Moreover, 2023 has emphasized the increasing significance of technology in farming, showcasing how innovation can revolutionize agricultural practices, making them more efficient and sustainable for the future.

Looking ahead to FY24, there is optimism regarding the positive changes that can be implemented in the agriculture sector, with a keen focus on sustainable practices, climate solutions and the integration of technology. At UPL, in line with our vision of ‘Reimagining Sustainability’ for farmers and food systems, we are taking bold steps to reduce our environmental impact, strengthen our social responsibility initiatives, and improve our governance practices – and we are proud that Dow Jones Sustainability Index has recognized this. We remain focused on breaking new ground for our industry and look forward to progressing our sustainability initiatives as we approach our 2040 carbon-neutral commitment.

Additionally, in the year ahead, under UPL’s Shashwat Mithaas – Sustainable Sugar Program, which exemplifies the company’s steadfast dedication to sustainability, aiming to provide sustainable solutions for sugarcane farmers, we are planning to sign Memorandums of Understanding with 15 sugar mills across Karnataka, Telangana, Madhya Pradesh, Uttar Pradesh, Maharashtra, and Gujarat. Furthermore, in collaboration with other global leaders, we have entered into an agreement to bolster food production, storage, and supply chains in the developing world through the ‘food security’ program.

Given the unpredictability and potential impact of weather adversities every year, it is imperative for us to remain vigilant. Hence, it is essential to commit to leveraging cutting-edge technologies and promoting practices like precision agriculture to empower our farmers and ensure global food security. The integration of technology not only augments productivity but also fosters sustainability, thereby playing a pivotal role in propelling growth within the agricultural sector on a global scale. Moving forward, we anticipate a potentially significant stride forward for sustainable agriculture globally.”