IFFCO forms JV with Mitsubishi to manufacture agrochemicals

Wednesday proved to be a big day for the farmers’ cooperative IFFCO as it tied up with the famed Mitsubishi Corp of Japan to manufacture quality agrochemicals in India.

Blazing a trail in the field of fertilizers, the IFFCO intends repeating the same in the field of insecticides, fungicides and weedicides in the country as a buoyed up MD Dr U S Awasthi said” IFFCO wishes to fulfill its commitment towards the farming community of the country extending its services to them and the agricultural sector as a whole. “

A press release from IFFCO read” Indian Farmers Fertiliser Cooperative (IFFCO), the largest producer and seller of fertilisers in the country with a view to strengthening the “Make in India” campaign started by Narendra Modi, Prime Minister of India by joining hands with the global player in agrochemicals business, Mitsubishi Corporation, Japan, has formed a Joint Venture Company “IFFCO-MC Crop Science Private Limited.” The IFFCO will hold 51% stake in the company & the rest will be with Mitsubishi Corporation, Japan. The company will manufacture the quality agrochemicals in India.

The company was formally launched on Wednesday at the IFFCO’s head office in New Delhi. The logo of the newly formed company was exchanged between Mr. Balvinder Singh Nakai, Chairman, IFFCO & Masakazu Sakakida, Chairman & Managing Director, Mitsubishi Corporation India.

Dr.U S Awasthi, Managing Director & CEO, IFFCO expressed his happiness over this new development and said with this foray into agrochemical business through its new Joint Venture, IFFCO wishes to fulfill its commitment towards the farming community of the country extending its services to them and the agricultural sector as a whole.

On the formation of this JV; Mr. B S Nakai, Chairman, IFFCO said ” as a cooperative for 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 already supplying through cooperative societies” he said.

IFFCO with strong presence on the fertiliser market in the country and Mitsubishi Corporation, Japan, with expertise in international agrochemical business will through synergy make available quality agrochemicals at reasonable price to Indian farmers even in far flung areas.