German chemicals and pharmaceuticals company, Bayer Group has said that it is aiming to double its revenues in India to $1 billion in the next four years.

The company has seen good business in businesses of crop protection and hybrid seeds and expects to generate more revenues in the segment. Bayer India focuses on crop science (pesticides and seeds), healthcare and material science sectors in the country at present.

The crop science sector accounts for about 60% of revenues, Healthcare about 30% and material science about 20%. The company believes that crop science will continue to be its main business area in India in the coming years.

Stephan Gerlich, managing director, Bayer India, said, "We will invest a part of our capex earmarked for Asian operations in India over the period on a need basis, and this is what will bring the growth."

Gerlich also said that the company has a huge distribution network and product portfolio and can reach farmers in the country easily. He pointed out that the company has an interaction with 10 million farmers countrywide and has about 2,700 distribution outlets.

Joerg Rehbein, Country Head, Bayer crop science said that the company is planning to bring in 2-3 new products every year and is also planning to expand its distribution network.