Dhanuka Group Seeks To Invest In More Agri-Startups

By Outlook Planet Desk May 11, 2023

The company has requested that the government take harsh action against businesses that sell counterfeit, fake, smuggled, or duplicate agrochemicals and agricultural inputs.

Dhanuka Group Seeks To Invest In More Agri-Startups
Leveraging the power of technology to support small and marginal farmers to enhance their productivity and income. DepositPhotos

Dhanuka Agritech, an agrochemical company, announced that it has already invested in two startups and is willing to do so again in order to encourage burgeoning agricultural entrepreneurs. Dhanuka Agritech stated in 2021 that it would invest Rs 30 crore for a minority position in Gurugram-based IoTechWorld Avigation, a maker of agricultural drones.

"We have made investments in two startups. There are many young entrepreneurs who have great products and technologies. We are ready to  support," Dhanuka Group Chairman R G Agarwal told reporters here.

If the proper chance arises, the business, according to him, would invest in other companies of this nature.

Agarwal claimed that IoTechWorld has a full order book due to the fact that more and more agricultural businesses are using drones to spray pesticides and perform other tasks.

The second startup where Dhanuka has invested makes IoT- and AI-based equipment for farm sector like soil sensor, he added.

Agarwal presented a compelling case for integrating the agriculture industry with technological breakthroughs like drones and artificial intelligence.

"These technologies can help in identifying crop diseases and pests attack in advance, as well as assist in the efficient use of fertilisers and water management. With the help of these technologies, farmers can make informed decisions based on real-time data and plan their crops better," he said.

The sale of fake pesticides, according to Agarwal, is one of the greatest challenges facing the agrochemical industry since it jeopardises the interests of both farmers and producers.

He claimed that in order to combat the threat of sales of fake goods in the black market, the company has already implemented QR codes on all of its items.

According to Agarwal, the business is launching multiple campaigns to raise awareness about the usage of high-quality agricultural inputs and bill-only purchases.

Sales of inferior, fake, illegal, smuggled, and duplicate pesticides have a negative effect on crop production and farmer income. He stated that low-quality products significantly reduce agricultural yields by failing to adequately manage insects and pests.

The chairman asked the central and state governments to take harsh action against businesses who sell counterfeit, fake, smuggled, or duplicate agrochemicals and agricultural inputs.

Three manufacturing facilities belong to the Dhanuka Group, and they are situated in Gujarat, Rajasthan, and Jammu & Kashmir. In its most recent fiscal year, the company reported a turnover of almost Rs 1,500 crore.