Fertiliser major IFFCO has partnered with Singapore-based technology firm iMandi to start an e-commerce platform for farmers with an investment of about Rs 80 crore.
An e-commerce app, ‘IFFCO iMandi’, has been launched that would cater to 5.5 crore farmers already associated with the cooperative.
A web portal has also been developed. IFFCO’s subsidiary IFFCO eBazar Ltd has taken 26 per cent stake in iMandi Pte Ltd.
The remaining 74 per cent is with I-tech Holdings and some other investors. “After spearheading the campaign across India to sensitise the farmers about the use of online and digital transactions, we are proud to come up with an app ‘IFFCO iMandi’. It is a ‘one stop shop’ for agri inputs and produce, FMCG, electronics, loans, insurance etc,” IFFCO Managing Director U S Awasthi said.
IMandi would address all needs of the farming community and aims to cater to captive user base of 55 million farmers, he added. The app was launched here yesterday.