IFFCO and iMandi Launch Farmers Platform

IFFCO, India’s largest fertilizer manufacturer, has partnered with Singapore-based tech firm iMandi to launch IFFCO iMandi, an online platform for farmers. The new platform will cater to 55 million famers, allowing them to buy and sell products, along with offering a range of products and services such as loans and insurance.

 

 

So far, $12m has been invested in developing and launching the platform, which is available via web and mobile. An additional $18 million will be invested to add more features, including the option for farmers to sell their produce. IFFCO will promote the platform across 55,000 point of sales, 36,000 Cooperative Societies and 30,000 warehouses, which will help reach 250 million rural consumers. Following the joint venture, IFFCO’s subsidiary IFFCO eBazar Ltd now owns 26% stake in iMandi Pte Ltd.

 

Insurance products such as car, home and travel are offered by IFFCO Tokio General Insurance Company, the joint venture between IFFCO and Tokio Marine.