Fertiliser major IFFCO has partnered with Singapore-based technology firm iMandi to launch an e-commerce app for farmers to buy and sell products. IFFCO-iMandi, as the app is called, will allow farmers to buy IFFCO products like fertilisers, agrochemicals and seeds at discounted prices and also avail of free delivery. The app also serves as a platform where farmers can buy and sell their own products. “It is a ‘One Stop Shop’ for agri-inputs & produce, FMCG, electronics, loans and insurance,” said Dr. US Awasthi, Managing Director, IFFCO at the launch. The joint initiative aims to reach GMV of $5 billion by 2020, and grow its user base to 55 million farmers. IFFCO's subsidiary IFFCO eBazar Ltd now owns 26% stake in iMandi Pte Ltd. The remaining 74% is held by I-tech Holdings and others. V K Agarwal, the founder of iMandi Pte, said about $12 million has been invested to launch this app and portal while another $18 million will be infused to add more features, including the facility for farmers to sell their produce. According to IFFCO, the platform will start by utilizing access IFFCO's more than 55,000 Point of Sales, 36,000 Cooperative Societies, more than 30,000 warehouses, and having access to 250 million rural consumers at 16,000 pin codes. Currently, IFFCO, which posted a turnover of Rs 20,787 crore, has 35,000 members. In the last financial year, the platform claimed to produce around 80 lakh tonnes and sold 103 crore tonnes of fertilizers. Online initiatives in agriculture AgroStar:…
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