Mankind Pharma announces its entry into the agri-tech space

Published On :- October 18, 2022

Mankind Pharma has announced its entry into the agri-tech space, with intentions to invest up to Rs 200 crore over the next two to three years. Mankind Agritech Pvt Ltd, a new division of the corporation, will provide Indian farmers with a variety of crop care solutions, including weedicides, insecticides, fungicides, plant growth regulators, and biologicals, a statement by Mankind Pharma said.

“We are happy to announce our launch in the agritech domain with long-term investment plans, with an initial (Rs) 150 to (Rs) 200 crore capex infusion in the first two to three years,” Mankind Pharma Managing Director and Vice-Chairman Rajeev Juneja said. Asserting that technology is playing a crucial role in ensuring the growth of the agriculture sector in India, he said, “Agritech has the potential to scale up the agricultural industry through technological intervention. If the farmers get the right products and tools they would be in a position to make an informed decision of using input and right technology”.

The new vertical will be headed by Indian agrochemical industry veteran Partha Sengupta, who was the national marketing head and part of the senior leadership team at Dhanuka Agritech Ltd, overseeing marketing operations in India, Bangladesh and Nepal, the company said.

It stated that the choice to enter this division was made to support Indian farmers by giving new-age technologies and assisting farmers for the growth of the rural sector.