Fertiliser major IFFCO has collaborated 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 Managing Director Dr. US Awasthi said, ‘After spearheading the campaign across India to sensitize 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. iMandi will address all needs of the farming community and aims to cater to captive user base of 55 million farmers.’
IFFCO’s subsidiary IFFCO eBazar Ltd has taken 26 percent stake in iMandi Pte Ltd. The remaining 74 percent is with I-tech Holdings and some other investors. V K Agarwal, the founder of iMandi Pte, said about USD 12 million has already been invested to launch this app and portal while another USD 18 million would be infused to add more features, including the facility for farmers to sell their produce.
Apart from buy-sell, the app has features like communication (chat and calling), entertainment and information/advisory content to keep the farmers engaged. the near future, IFFCO’s Marketing Director Yogendra Kumar said farmers will also be able to sell their produce online at the be .
Under the agri inputs marketplace, farmer can presently buy all IFFCO products, including fertilizers, agrochemicals and seeds at a discounted price and get free delivery at their doorstep.