As new technologies continue to develop, numerous business sectors change and experience growth. In these times of transition, the agriculture sector is reacting to the new innovations and technologies that are supporting the green economy.
In this instance, Biostadt India Limited is empowering farmers with its extraordinarily potent biological goods. Biostadt India Limited was established in 2003 and is a highly diversified agrochemical company with a physical presence in biologicals, crop protection chemicals, aquaculture inputs, hybrid seeds, custom manufacturing, and international operations.
In our conversation with Mr. Juzar Khorakiwala, Chairman & Managing Director of Biostadt India Limited, we discussed the current situation of the sector and how Biostadt India Limited is transforming the agriculture industry globally.
Describe your history and the inspiration behind the founding of Biostadt India Limited.
I was inspired to create Biostadt India Limited by the fact that over 40% of people in India work in agriculture. India must therefore focus all of its efforts on developing this sector, which is at the bottom of the pyramid. India employs the fewest agricultural inputs per capita in the world, which opens up a wide range of opportunities.
Biostadt India Limited, which was established in 2003, has developed into a powerful company with operations across India, affiliates in the Philippines and Vietnam, and exports to roughly 15 different countries. The product portfolio of Biostadt India Limited, which operates under the flagship name “Biozyme,” has grown over time to encompass a range of seaweed-based biological inputs.
What factors contribute to your company’s ongoing success?
Our company’s 17-year success can be ascribed to a variety of elements. We have always given our farmers top-notch, efficient goods. We continue to focus on these organic, environmentally friendly products, and as a result, we are now India’s leading provider of biologicals.
As a high-performance, professionally driven company, Biostadt India Limited places people at the centre of all of its objectives and operations. Since most of our employees have been with us at some capacity since the company’s inception, we’ve had stability. Our tri-bird emblem’s three birds, which represent speed, growth, and teamwork, have inspired Biostadians to achieve one billion dollars by 2021.
Our flagship brands, Biozyme, Nanozim, HyZyme, and Wokozim, are brand-new, non-toxic, eco-friendly bio-stimulants based on seaweed extract.
Thanks to our wide digital network, Biostadt India Limited has evolved into a highly digitalized business that conveniently connects suppliers and customers at either end. Our open, honest, and trust-based culture has received praise and approval from all of our staff members and business partners. I frequently hear from our former workers that they miss working in the open and transparent environment at Biostadt India Limited and that they would like to come back.
What items is the company focusing on? What distinguishes your services from those provided by rivals?
Leading manufacturer of biological products based on seaweed extract that are very beneficial for crop health and a high-quality yield is Biostadt India Limited. New, non-toxic, environmentally friendly biostimulants based on seaweed extract include our flagship brands, Biozyme, Nanozim, HyZyme, and Wokozim.
Farmers all across the world prefer the fermentation-based biotechnology inputs. Taking advantage of the demand from the farming community, we have also released new formulation products like DeLite, Nano Drip, Rejoice, Amaze XL, and Nanozim NXT. We’ll also soon have items under our Cradle and Mobilizer brands, which are mycorrhiza-based and augmented with seaweed.
Products from Biostadt India Limited assist farmers fulfil current agricultural demands by enhancing soil health, nutrient uptake, stress tolerance, root growth, and crop output overall.
Biostadt India Limited represents well-known Japanese multinational corporations including Mitsui, Hokko, Sumitomo, Nippon Soda, etc. in addition to trading in crop protection chemicals. Insecticides, herbicides, fungicides, and weedicides are some of these treatments. We have also entered the market for a variety of aquaculture products for pond management, with a vigilant field team to cover the states of Andhra Pradesh, Tamil Nadu, and West Bengal.
Aquaculture-focused joint venture VinhThinh Joint Stock Company was founded in Vietnam by Biostadt India Limited. Our agrochemicals business is still growing, and we are now targeting the Indo-China region. Biostadt India Limited has purchased a prawn hatchery off the Nhatrang coast of Vietnam in order to broaden the scope of its aquaculture operation.
What, in your opinion, changes have arisen from biotechnology in the Indian agriculture sector?
The market for agricultural inputs incorporating biotechnology products is growing at the fastest rate both in India and globally. It is growing at a rate of around 3-5% annually, as opposed to the chemical industry, which has frequently experienced double-digit growth.
The general public, as well as the farming community, is paying close attention to products that are environmentally benign and don’t harm the soil. Agri-inputs are becoming increasingly popular both in India and around the world because to Biostadt’s first modest efforts in this field. Biostadt India Limited has been a pioneer in this area.
How do you decide whether to grow your company?
Biostadt India Limited has developed organically over the years through product diversification, market expansion, and the addition of related businesses like seeds and a distinct division for horticulture crops (InGene Organics Pvt. Ltd.), as well as related acquisitions in aquaculture in Vietnam and the purchase of Nandi Seeds Pvt. Ltd. in recent years. The outcomes of this strategy have been outstanding, so we will continue down this path to promote future growth in related agricultural industries. To be more precise, we are working closely with Japanese companies to market and sell proprietary chemicals over the course of the following two to three years. As a result, the business’s expansion will advance.
How can a biotechnology industry leader raise the calibre and effectiveness of business operations?
In the areas of client engagement, our sales force, which is digitally connected, leverages IT procedures more and more. Our whole production and supply chain processes are entirely digitalized on the SAP platform. Our HR processes are currently being entirely digitalized and executed using a hire-to-retire methodology. This enhances our overall operation’s efficiency, effectiveness, and transparency.
My greatest accomplishment, which has provided me a great deal of fulfilment in my life, is the transformation and joy that Biostadt has brought to our farming community.
Juzar Khorakiwala
What duties do you consider an entrepreneur to have?
One of an entrepreneur’s responsibilities is frequently to look for opportunities, select ideas, transform them into company plans, and take swift action. The result of this process is the responsible welfare of its population at all levels and within the ecology in which it functions.
Why is it asserted that a company’s employees plays a crucial role in its growth? Give us some background on your team.
The success or failure of an organisation is heavily influenced by its people. Money cannot be used to buy people in the same way that it can be used to buy equipment, materials, technology, etc. For people to thrive, the right conditions must be provided. They must be informed about the organization’s long-term objectives and course. Their career path must align with the company’s objectives. The fact that Biostadt has capable leaders at every level is a huge blessing.
Our leadership ladder programme recognises individuals from the lowest hierarchical levels to the highest, which gives capable people excellent direction and desire to get to the top. This has been supported by creative compensation-backed programmes to foster business growth.
We have really successful employee engagement programmes all around the business that frequently involve the employees’ families.
Please give us a quick rundown of your work history.
I have a pharmacy degree from an accredited university and an MBA from the Asian Institute of Management in the Philippines. Before opting to launch my own agrochemical company, Biostadt India Limited, in 2003, I worked for our family’s pharmaceutical company from 1973 until that year. From a low turnover of approximately 60 crores back then, we reached INR 1000 crores in 2021.
I am the President of BASAI (Biological Agri-Solutions Association of India), a group of like-minded businesspeople who acknowledge the importance and necessity of governmental regulation in the biostimulants industry, in addition to my roles as Chairman and Managing Director of Biostadt India Ltd. I am IMC’s vice president at the moment, and later this year I will become IMC’s president. Additionally, I serve as the chairman of Akbarallys Men, a high-street store that was reopened in 2015 and was designed exclusively for the modern man.
Before that, I worked in a number of social work specialties and was president of the Rotary Club of Bombay Central (2002–2003). He presided over the Indian chapter of the Asian Institute of Management Alumni Association from 1990 to 1997.
Additionally, from 2007 to 2008, he held the positions of Vice Chairman of the Indian Merchants’ Chamber’s International Trade Committee, Chairman of the organization’s Life Science & Biotechnology Committee, Vice President of the Indo-Canadian Business Council, and Vice President of Bombay Gymkhana.
I also had a position on the Executive Committee of the Indian Drug Manufacturers Association (IDMA), the top body for the Indian National Pharmaceutical Industry. a member of the Bombay Management Association, the Indian Institute of Materials Management, and the Allana College of Pharmacy Governing Body.
What have been the highlights of your entrepreneurial journey?
One of the key successes has been the growth of the biological market, and the sector has noticed and embraced ethical competition. In addition, it is actually rewarding to assist the more than 2000 Biostadians employed by our organization in India and other countries with their daily life. I’ve also had the opportunity of collecting various awards and accolades from the business community. I owe the Biostadian team as a whole and my family for what I’ve accomplished. The transformation and happiness that Biostadt has brought to our farming community is my greatest achievement and the source of a great lot of my fulfilment in life.
