CCI competition order · 29 Sept 2026
Official title
Crystal Crop Protection Limited
Summary
Check the official recordCrystal Crop Protection Limited proposes to acquire 100 percent of the shareholding of FMC India Private Limited. This transaction constitutes an acquisition of shares under Section 5(a)(i)(A) of the Competition Act, 2002. Both companies operate in the Indian agrochemicals sector. They manufacture and sell crop protection products including herbicides, insecticides, fungicides, seed treatment, and plant health and nutrition products. The parties identify horizontal overlaps in these product markets and potential vertical linkages between the supply of active ingredients and the sale of crop protection products. The parties state that the transaction will not cause an appreciable adverse effect on competition in India due to low combined market shares and the presence of numerous competitors.
What you must do
Who is affected
SUMMARY OF THE PROPOSED COMBINATION
UNDER REGULATION 13(2) OF THE COMPETITION COMMISSION OF INDIA (COMBINATIONS) REGULATIONS, 2024
A. Name of the parties to the combination
Crystal Crop Protection Limited (Crystal Crop / Acquirer); and
FMC India Private Limited (FMC India / Target) (collectively, the Parties).
B. Nature and purpose of the combination
The proposed transaction relates to the acquisition of 100% shareholding of FMC India on a fully diluted basis by Crystal Crop from FMC Netherlands Holdings II B.V. and its affiliates (Proposed Transaction).
The Proposed Transaction is an acquisition of shares and is notifiable under Section 5(a)(i)(A) of the Competition Act, 2002.
C. Products, services and business(es) of the parties to the combination
Crystal Crop
FMC India
D. Respective market(s) in which the parties to the combination operate
The Parties are present in the agrochemicals sector in India. In line with the Hon’ble Competition Commission of India’s (Commission) decisional practice in this sector, the Parties respectfully submit that there is no need to specifically define a relevant market in this case. Further, the Proposed Transaction will not lead to any material change in the competitive landscape in India, let alone cause any appreciable adverse effect on competition (AAEC) in any relevant market in India.
Without prejudice to the above, and in order to assist the Hon'ble Commission in its review of the Proposed Transaction, the Parties have identified the following relevant markets (including their corresponding narrow segments) on account of horizontal overlaps between their activities in India:
(a) market for the manufacture and sale of herbicides in India;
(b) market for the manufacture and sale of insecticides in India;
(c) market for the manufacture and sale of fungicides in India;
(d) market for the manufacture and sale of seed treatment products in India; and
(e) market for the manufacture and sale of plant health & nutrition products in India (collectively, Horizontal Markets).
(a) upstream market for the manufacture and supply of active ingredients in India; and
(b) downstream market for the manufacture and sale of crop protection products in India.
Further, the Parties exhibit a potential complementary linkage between the commercialization of seeds and the manufacture and sale of crop protection products in India.
The Parties humbly submit that their combined market shares in the relevant markets are low to modest. Further, the relevant markets are highly competitive, with the presence of a large number of domestic as well as global players who will continue to pose significant competitive constraints on the Parties. Therefore, the Proposed Transaction will not give rise to any competition concerns in the relevant markets and any potential segments.
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