BackMankind Pharma forays into agri-tech space
The company has entered into the ever-growing Indian agri-input segment to use technological innovations in the field and bring its expertise to Indian farmlands and the Indian agriculture consumers, respectively, Mankind Pharma said in an official statement.
PremiumMankind Pharma has announced the launch of Mankind Agritech Pvt Ltd to foray into agritech segment and the company will invest ₹200 crore in the next two to three years.
The company has entered into the ever-growing Indian agri-input segment to use technological innovations in the field and bring its expertise to Indian farmlands and the Indian agriculture consumers, respectively, according to an official statement.
"The decision behind foraying into this division is to assist Indian farmers by providing new-age technologies and helping farmers for the betterment of the rural sector," it said.
With the launch of Mankind Agritech, the company will be providing crop care solutions to Indian farmers, including weedicides, insecticides, fungicides, plant growth regulators and biologicals.
"We are happy to announce our launch in the agritech domain with long-term investment plans, with an initial (Rs) 150 to (Rs) 200 crore capex infusion in the first two to three years," Mankind Pharma Managing Director and Vice-Chairman Rajeev Juneja said.
Asserting that technology is playing a crucial role in ensuring the growth of the agriculture sector in India, he said, "Agritech has the potential to scale up the agricultural industry through technological intervention. If the farmers get the right products and tools they would be in a position to make an informed decision of using input and right technology".
The new vertical will be headed by Indian agrochemical industry veteran Partha Sengupta, who was the national marketing head and part of the senior leadership team at Dhanuka Agritech Ltd, overseeing marketing operations in India, Bangladesh and Nepal, the company said.
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