New technologies are constantly emerging, increasing growth, and changing various business sectors. The agricultural industry is adjusting to the new developments and technology that are bolstering the green economy in these times of change.
With their incredibly effective biological products, Biostadt India Limited is in this case empowering farmers. A highly diversified agrochemical company with a physical presence in biologicals, crop protection chemicals, aquaculture inputs, hybrid seeds, bespoke manufacturing, and overseas operations, Biostadt India Limited was founded in 2003.
We talked about the present state of the industry and how Biostadt India Limited is altering the agriculture industry globally in our chat with Mr. Juzar Khorakiwala, Chairman & Managing Director of Biostadt India Limited.
Tell us about your background and what motivated you to create Biostadt India Limited.
The fact that over 40% of the people in India are employed in agriculture is what motivated me to start Biostadt India Limited. India must therefore concentrate all of its efforts on this sector, which is at the base of the pyramid if it is to develop. India uses the fewest agricultural inputs per capita worldwide, which creates enormous opportunities throughout the value chain.
The 2003-founded Biostadt India Limited has grown into a strong business that operates all over India, has affiliates in the Philippines and Vietnam, and sells goods to about 15 different nations. Under the flagship brand “Biozyme,” Biostadt India Limited has expanded its product line over time to include a variety of seaweed-based biological inputs.
1. What accounts for the sustained success of your business?
The 17-year success of our business can be attributed to a number of factors. We have always provided our farmers with high-quality, effective products. We are now India’s largest provider of biologicals because of our ongoing focus on these organic, eco-friendly products.
We put people at the center of all of our plans and executions at Biostadt India Limited since we are a high-performance, professionally driven firm. The majority of our workforce has been with us at some level or another since the company’s beginning, which has given us stability along the way. The three birds that make up our tri-bird emblem stand for speed, growth, and teamwork, three things that have motivated Biostadians to surpass 1000 crore by 2021.
Our flagship brands ‘Biozyme’, ‘Nanozim’, ‘HyZyme’, and globally known as ‘Wokozim’ are novel non-chemical, non-toxic, and eco-friendly seaweed extract-based bio-stimulants.
Biostadt India Limited has transformed into a highly digitalized corporation that effortlessly connects suppliers at one end and customers at the other thanks to our extensive digital network. All of our employees and partners have expressed their appreciation and acceptance of our open, transparent, and trust-based culture. I frequently hear from our former employees that they miss working in Biostadt India Limited’s open and transparent environment and that they would like to return.
2. What products does the business prioritise? How do your services differ from those offered by competitors?
Biostadt India Limited is a leader in biological products based on seaweed extract that is extremely helpful for crop health and a high-quality yield. Our flagship brands, Biozyme, Nanozim, HyZyme, and Wokozim, are brand-new, non-toxic, eco-friendly biostimulants based on seaweed extract.
The biotechnology inputs based on fermentation are well-liked by farmers all over the world. We have also introduced new formulation goods like DeLite, Nano Drip, Rejoice, Amaze XL, and Nanozim NXT, taking advantage of the farming community’s desire. Our Cradle and Mobilizer brands, which are Mycorrhiza-based products enhanced with seaweed, will also be available soon.
Products from Biostadt India Limited improve soil health, improve nutrient uptake, provide stress tolerance, raise root growth, and increase crop output overall to help farmers meet today’s agricultural demands.
In addition to dealing in crop protection chemicals, Biostadt India Limited also represents well-known Japanese multinationals including Mitsui, Hokko, Sumitomo, Nippon Soda, etc. These applications include insecticides, herbicides, fungicides, and weedicides. With an alert field team to cover the states of Andhra Pradesh, Tamil Nadu, and West Bengal, we have also entered the market for a variety of aquaculture goods for pond management.
In Vietnam, Biostadt India Limited established VinhThinh Joint Stock Company, a 50/50 joint venture that specialises in aquaculture. We are still expanding our agrochemicals company to include the Indo-China region. To expand its aquaculture business range, Biostadt India Limited also bought a shrimp hatchery off the Vietnamese coast of Nhatrang.
3. How has India’s agricultural sector altered as a result of biotechnology, in your opinion?
In India and around the world, the market for agricultural inputs containing biotechnology goods is expanding at the quickest rate. In contrast to the chemical sector, which has routinely had double-digit growth, it is rising at a rate of roughly 3-5% annually. Environmentally friendly, non-soil-damaging goods are receiving a lot of attention, not just from the farming community but also from the general public. What was initially a modest effort in this area by Biostadt in India has grown into a burgeoning agri-inputs market in India and around the globe. In this market, Biostadt India Limited has been a pioneer.
4. How do you make the decision to expand the business?
Through product diversification, market expansion, and the addition of related businesses like seeds and a separate 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, Biostadt India Limited has grown organically over the years. This approach has yielded impressive results, and we will stick to this course to drive future expansion in adjacent agricultural industries.
To be more specific, we are collaborating actively with Japanese businesses to sell patented compounds that will be sold in the market over the next two to three years. The expansion of the business will be advanced as a result.
How can a successful leader in the biotechnology industry improve the standard and efficiency of corporate operations?
Our sales force, which is digitally connected, uses IT processes more and more in the areas of client connection. On the SAP platform, all of our manufacturing and supply chain operations are fully digitalized. Our HR procedures are currently being implemented using a hire-to-retire approach and are also being fully digitalized. This improves the speed, quality, and openness of our entire operation.
My greatest achievement, which has given me a lot of fulfillment in my life, is the change and happiness that Biostadt has brought to our community of farmers.
5. What obligations do you believe an entrepreneur has?
An entrepreneur’s duties often include searching for possibilities, choosing ideas, turning them into a business plan, and acting quickly on them. The responsible welfare of its population at all levels and within the ecosystem in which it functions is the outcome of this process.
6. Why is it claimed that every company’s growth depends critically on its workforce? Tell us a little bit about your team.
People play a crucial role in an organization’s success or failure. People cannot be purchased with money the same way that you can with tools, supplies, technology, etc. People require care and the correct environment to flourish. They need to be given information about the organization’s long-term goals and direction. Their professional path must be in line with the goals of the business. It is a great blessing for Biostadt to have capable leaders at every level.
From the lowest hierarchical levels to the very top, our leadership ladder program recognizes individuals, which provides excellent direction and motivation for competent people to advance to the top. Innovative compensation-backed programs to promote corporate growth have encouraged this. Throughout the company, we have highly effective employee engagement initiatives that frequently involve their families.
Please provide us with a brief overview of your professional background.
My academic background is in pharmacy, and I have an MBA from the Asian Institute of Management in the Philippines. I worked for our family’s pharmaceutical company from 1973 until 2003 before deciding to start my own agrochemical company, Biostadt India Limited, in that year. We attained INR 1000 crores in 2021, up from a modest turnover of about 60 crores back then.
In addition to serving as the Chairman and Managing Director of Biostadt India Ltd., I also serve as the President of BASAI (Biological Agri-Solutions Association of India), a group of like-minded businesspeople who recognize the value and necessity of government regulation in the biostimulants sector.
Currently serving as IMC’s vice president, I will take over as IMC’s president later this year. I am also the chairman of Akbarallys Men, a high-street retailer created specifically for the modern male and relaunched in 2015.
Prior to this, I served as the Rotary Club of Bombay Central’s president (2002–2003) and worked in a variety of social work disciplines. From 1990 to 1997, he served as President of the Asian Institute of Management Alumni Association in India.
He has also served as Vice Chairman of the International Trade Committee of the Indian Merchants’ Chamber, Chairman of the Life Science & Biotechnology Committee of the Indian Merchants’ Chamber, Vice President of the Indo-Canadian Business Council, and Vice President of Bombay Gymkhana (2007 – 2008).
In addition, I have served as a member of the Executive Committee of the Indian Drug Manufacturers Association (IDMA), the supreme organization of the Indian National Pharmaceutical Industry. a participant in the Allana College of Pharmacy Governing Body, the Bombay Management Association, and the Indian Institute of Materials Management.
7. What are your entrepreneurial journey’s major accomplishments?
The development of the biological market is one of the major accomplishments, and the industry has taken notice and welcomed ethical competition. Aside from that, helping the more than 2000 Biostadians working for our company in India and overseas with their daily lives is genuinely quite fulfilling.
Additionally, I’ve had the honor of receiving numerous prizes and distinctions from the business world. I owe my accomplishments to my family and the entire Biostadian team. My greatest accomplishment, which has brought me a great deal of contentment in my life, is the transformation and joy that Biostadt has brought to our farming community.