Komal Shah Bhukhanwala, executive director (ED) of SML Limited

The current geopolitical environment, particularly due to the US-Iran conflict, highlights the need to strengthen India’s agricultural resilience, said Komal Shah Bhukhanwala, executive director (ED) of SML Limited (formerly Sulphur Mills Limited).

“Escalating geopolitical tensions and energy volatility are exposing the risks of India’s dependence on imported fertilizer raw materials and global supply chains,” she told businessline in an online interaction. 

The Government can support the sector by promoting high-nutrient-use-efficiency (NUE) fertilisers and advanced nutrient technologies that can reduce dependence on bulk fertilizer by 25–50 per cent, improve nutrient delivery, conserve resources, and build a more resilient and self-sustaining agricultural ecosystem, she said. 

Continued policy support for innovation, faster regulatory approvals, uniform GST for all grades of nutrients, export promotion, and investment in advanced agricultural technologies will help strengthen India’s food security while enhancing the global competitiveness of the domestic agrochemical industry, said the ED of SML, established in 1960.

SML Limited is one of the global leaders in innovative agricultural solutions with operations in over 80 countries. Headquartered in Mumbai, the company is looking to transform agriculture through advanced crop protection, crop nutrition, and biological solutions. 

Stating that tensions in West Asia have reinforced the need for greater resilience in the agricultural input sector, she said that the direct impact on SML, however, has been manageable. The conflict has increased logistics costs and market volatility, though. 

“In the midst of such disruptions, we are providing solutions to farmers with steady supplies which help them improve yields and, despite bulk fertilizer disruptions, secure a stronger return on investment not just in the short term, but in the long term,” said Bhukhanwala. 

The situation underscores the importance of investing in innovative agricultural technologies and manufacturing, all made in India, that improve efficiency while reducing dependence on imported inputs, she said.

With an annual group turnover of ₹2,200 crore, SML is among the world’s largest manufacturers of water-dispersible granule (WDG) formulations. It holds over 950 patents, and is one of the few global agrochemical companies to introduce its own new chemical entity. 

The fertilizer industry is moving towards innovation-led, sustainable agriculture. “Geopolitical developments have reinforced the need for technologies that improve resource efficiency and reduce dependence on imported agricultural inputs. NUE technologies, advanced formulations, and biological solutions are expected to play an increasingly important role in improving farm productivity while optimising input use,” said the SML Ltd Ed. 

Stating that there is a global shift to reduce bulk nitrogen-based and phosphatic fertilisers, she said awareness of the development is much greater, and this is helping us drive collaborations internationally. 

“We believe companies focused on innovation, sustainability, and farmer-centric solutions will drive the next phase of growth in global agriculture,” said Bhukhanwala.

For SML, exports remain a strong pillar of its business, contributing more than 55 per cent of the annual turnover. Despite global uncertainties, the demand across key international markets has remained stable. 

“During the current fiscal year, we will continue expanding our global presence, introducing innovative technologies and products, strengthening our R&D capabilities, and further investing in sustainable agricultural solutions that address evolving farmer needs worldwide,” she said.

On the US-Iran conflict, the SML Ltd ED said it has highlighted the vulnerability of global supply chains, particularly for energy, shipping, and fertilizer raw materials. 

“While SML experienced some temporary logistical challenges and increased freight costs, our diversified sourcing strategy and strong supply chain planning ensured uninterrupted operations. We source raw materials from a balanced mix of domestic and international suppliers, enabling us to manage geopolitical disruptions effectively,” she said.

Published on July 20, 2026