Home / Companies / News /  Reliance says no plans to enter contract farming

Reliance Industries Limited (RIL) on Monday said that it has no plans of entering contract or corporate farming and it has not purchased any agricultural land in India for the purpose of contract farming, the company said in a regulatory filing.

Reliance said it "has nothing whatsoever to do with the three farm laws currently debated in the country, and in no way benefits from them."

"Reliance Retail Limited (RRL), Reliance Jio Infocomm Limited (RJIL), or any other affiliate of our parent company, i.e., Reliance Industries Limited have not done any “corporate" or “contract" farming in the past, and have absolutely no plans to enter this business," the conglomerate said.

RIL further said that the company will today file a writ petition against vandalism in Punjab & Haryana HC, adding that vested interests are taking advantage of farmers’ agitation to launch an incessant, malicious & motivated vilification campaign against the company, which has absolutely no basis in truth.

Also Read | A year on, China is shaking up the world

RIL said that it does not purchase food grains directly from farmers and its suppliers buy from farmers only at the Minimum Support Price (MSP) level.

"We shall insist on our suppliers to strictly abide by the Minimum Support Price (MSP) mechanism, and/or any other mechanism for a remunerative price for farm produce, as may be determined and implemented by the government," RIL said.

RIL urged the High Court to issue a suitable order to help protect its employees and property from vandalism.

"We at Reliance have immense gratitude and the greatest respect for India’s kisans, who are the ‘ANNA DATA’ of 1.3 billion Indians," the company said. "As customers of their services, we believe in building a strong and equal partnership with Indian farmers on the basis of shared prosperity, inclusive development and an equitable New India."

More than 1,500 telecom towers in Punjab have been damaged during the farmers' protest against the new farm laws.

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less

Recommended For You

Trending Stocks

Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout