Mankind Pharma to invest up to 200 crore in the agri sector
11 April 2022, New Delhi: Mankind Pharma announced the formation of a new subsidiary, Mankind Agritech Pvt Ltd, which will provide Indian farmers with crop care products such as weedicides, insecticides, fungicides, plant growth regulators, and biologicals.
Mankind Pharma’s Managing Director and Vice-Chairman Rajeev Juneja said, “We are thrilled to announce our entry in the agritech arena with long-term investment intentions, with an initial 150 to 200 crore capital infusion in the first two to three years.”
He asserted that technology plays a critical part in assuring India’s agricultural sector’s prosperity, saying, “Through technological intervention, agritech has the ability to scale up the agricultural business. Farmers would be in a better position to make informed input and technology decisions if they had the necessary products and tools “..
According to the company, the new vertical will be led by Partha Sengupta, an Indian agrochemical industry veteran who was the national marketing head and member of the senior leadership team at Dhanuka Agritech Ltd, handling marketing activities in India, Bangladesh, and Nepal.
The decision to enter this business was made in order to support Indian farmers by providing cutting-edge technology and assisting farmers in improving the rural sector, according to the company.