IFFCO Managing Director Dr Uday Shankar Awasthi has left for Japan to hold meetings with his JV partners. IFFCO has tied up with the two Global giants based in Japan- Tokio Marine and Mitsubishi. While the former ranks as one of the world’s most diversified financially secure insurance groups, the latter is a global business enterprise operating businesses virtually across every industry including chemicals.
Giving information about his visit Dr. U S Awasthi tweeted “Landed in #Japan 4 meeting with #Tokio Marine #Mitsubishi #Mitsui 4 future business relationship with #IFFCO.”
While the precise details of the agenda for the MD’s visit are not yet known, IFFCO-MC, a newly formed joint venture (JV) between Farmers Fertilizer Cooperative (IFFCO) and Japanese company Mitsubishi Corporation was launched only last month.
Though it has begun making 18 generic products IFFCO aims to have its own production in India sooner than later.
IFFCO-Tokio General Insurance was incorporated in 2000 and is a joint venture between the Indian Farmers Fertilizer Co-operative (IFFCO) and its associates and Tokio Marine and Nichido Fire Group the largest listed insurance group in Japan.
Besides being financially strong and professionally well managed IFFCO offers also a huge market for its foreign-based JV partners through its 25,000 cooperatives across India and close to four crore farmers associated with it, claims an official of IFFCO.