IOB, Amul & Richplus in pact to boost organic farming

Indian Overseas Bank (IOB), Amul Dairy and RichPlus Sustainable Agriculture Solutions have come together to form a grand alliance to promote sustainable agriculture. This is, perhaps, the first time in India that a cooperative dairy, a public sector bank and an agri-tech start-up are collaborating at the scale of this nature.  The three have already inked a memorandum of understanding (MoU) to take this initiative forward. This partnership is ostensibly aimed at empowering farmers and advancing organic farming practices across Tamil Nadu.

Listen to this article

This partnership provides for a co-branded organic farming card to offer discounts on certified inputs. A special credit scheme named “ Harit Kranti” has also been introduced for organic farmers. Furthermore, IOB is planning to hold the first major organic farming event in Madurai.“This  MoU marks the beginning of a transformative journey,” said Ajay Kumar Srivastava, managing director & CEO, Indian Overseas Bank. Addressing a press conference in Chennai on 29 May 2025, he said that, “our goal is to onboard one lakh organic farmers in Tamil Nadu within a year”. “Through this, we aim to offer them credit access, market linkages and sustainable farming inputs,” he added.

Dr Amit Vyas, Managing Director of  Amul, pointed out that Amul’s commitment extended beyond dairy. “This partnership is not just about fertilisers.  It’s about creating an ecosystem for cleaner soil, healthier food and better farmer incomes. Tamil Nadu is already in organic farming, and this collaboration can turn it into a national model,” Amit Vyas said.

“We believe this collaboration will set a benchmark for sustainable farming practice in India,” said Ashok Sarrangan, Managing Director of RichPlus. “Our collective efforts will ensure that farmers are not only equipped with the resources but also inspired to innovate for a greener future,” he added.

Ajay Kumar Srivastava emphasised that the collaboration was aimed at supporting not just organic farming. The objective was to usher in a holistic transformation in the way food was grown and delivered. This was sought to be achieved by combining tradition, technology and sustainability, he said.

Latest

India Post records highest ever Q1 revenue

The Minister held Business Review Meeting with all 23...

MRF ranked India’s most valuable tyre brand

The company also featured among the Top 50 most...

Aditya Birla Group buys Shell’s renewable arm for $1.8 bln

The company will make the acquisition from Shell Overseas...

TVS Emerald to develop residential project in West Chennai

The Koyembedu–Poonamallee corridor, a rapidly expanding residential micro-market that...

Newsletter

Don't miss

India Post records highest ever Q1 revenue

The Minister held Business Review Meeting with all 23...

MRF ranked India’s most valuable tyre brand

The company also featured among the Top 50 most...

Aditya Birla Group buys Shell’s renewable arm for $1.8 bln

The company will make the acquisition from Shell Overseas...

TVS Emerald to develop residential project in West Chennai

The Koyembedu–Poonamallee corridor, a rapidly expanding residential micro-market that...

Retail Inflation crosses 4% in June

“Food inflation contributed 185 basis points (bps), while non-food...

India Post records highest ever Q1 revenue

The Minister held Business Review Meeting with all 23 Circles of India Post, which reviewed performance and charted the roadmap for the months ahead. India...

MRF ranked India’s most valuable tyre brand

The company also featured among the Top 50 most valuable brands in India across sectors in the report. Brand Finance India report, unveiled under the...

Aditya Birla Group buys Shell’s renewable arm for $1.8 bln

The company will make the acquisition from Shell Overseas Investment B.V and the transaction is amongst the largest acquisitions in India’s renewable energy sector...