Nirman Genetics enters into strategic alliance to expand offerings

With the agriculture and allied sector growing around 4.4 per cent per annum, several agritech companies are at play as they focus on solving supply chain inefficiencies and boosting income. The relentless focus on research and development in agricultural innovation coupled with modernisation and mechanisation has increased the output and added significantly to the economy.

Amid the rapid adoption of new technology in farming and an increase in the speed at which farms are mechanised, agricultural input sector player Nirman Agri Genetics has announced that it has entered into a Memorandum of Understanding (MoU) with Toshan Seeds.

The collaboration is a part of the company's strategic move to increase product offerings and expand the market reach. 

"The partnership is anticipated to serve as a pivotal catalyst in amplifying the presence in emerging markets. It is estimated that the collaboration will add Rs 30 crore to the top line in the coming quarters," it said in a statement.

Nirman Agri is engaged in the specialised business of production, processing and marketing of hybrid seeds, pesticides, bio-organic products and more. The latest collaboration will help it to diversify its product portfolio spanning crops like corn, sunflower, cotton, paddy and more, it said.

According to PIB data, India's agriculture sector has been witnessing robust growth with an average annual growth rate of nearly 4.5 per cent over the last six years.

Last month, the National Statistical Data (NSO) showed that the agriculture sector recorded a 3.5 per cent growth, up from 2.4 per cent in the April-June quarter of 2022-23.