Forays into Agrochemicals, Will manufacture in India. Forms a Joint Venture with Mitsubishi Corporation, Japan
New Delhi, 26th August, 2015: Indian Farmers Fertiliser Cooperative Limited (IFFCO), the largest producer and marketer of fertilisers in the country, strengthening the “Make in India” campaign started by Shri Narendra Modi, Hon’ble Prime Minister of India by joining hands with the global player in agrochemicals business, Mitsubishi Corporation, Japan, to form a Joint Venture Company “IFFCO-MC Crop Science Private Limited.” IFFCO will hold 51% stake in the company & rest will be with Mitsubishi Corporation, Japan. The company will manufacture the quality agrochemicals in India.
The company was formally launched today at IFFCO’s head office in New Delhi. The logo of newly formed company was exchanged between Mr. Balvinder Singh Nakai, Chairman, IFFCO & Mr. Masakazu Sakakida, Chairman & Managing Director, Mitsubishi Corporation India Pvt Ltd.
Dr.U S Awasthi, Managing Director & CEO, IFFCO expressed his happiness over this new development and said that with this foray into agrochemical business through its new Joint Venture, IFFCO wishes to fulfil its commitment towards the farming community of the country and will enlarge its services specially to them and agricultural sector as a whole.
On the formation of this JV; Mr. B S Nakai, Chairman, IFFCO said that as a cooperative for the farmers, we were getting continuous demand from farmers across the country to make available good quality insecticides, fungicides and weedicides apart from quality fertilizers, which IFFCO is supplying through cooperative societies.
IFFCO have a strong presence in fertiliser market in the country and Mitsubishi Corporation, Japan, who have expertise in agrochemical business internationally, are going to have a synergy to make available quality agrochemicals at reasonable price to Indian farmers even in far flung areas.
Issued by : Harshendra Singh Verdhan, Head – PR & Communications, IFFCO