Agri Business

Poultry firm IB Group to float ₹200-crore venture fund for agripreneurs

Our Bureau New Delhi | Updated on January 01, 2020 Published on January 01, 2020

Chhattisgarh-based poultry firm IB Group said it has set aside a capital fund of ₹200-crore for equity investments in agriculture and poultry-based start-ups in the country.

In a press statement issued here, the company said it will provide 25 per cent loan-free investment for a period of three years and also will give free farm management training to investors who would like to take benefit of the investment scheme, Parivartan Gen Nxt. Besides, the company has promised return on investments to its investors in four years.

The scheme would create 25,000 direct employment opportunities, beside indirect jobs, the statement added.

“Through our investment scheme, younger generations will get an exciting entrepreneurship path, which they were earlier exploring in various employment opportunities. We will create an entrepreneurial environment for Indian agriprenuers by providing them modern technology used in the US and Europe in India itself,” said Bahadur Ali, Managing Director, IB Group.

The firm said Indian poultry industry is one of the fastest-growing segments of the agriculture sector in the country. While the production of agriculture crops has been rising at a rate of 1.5 to 2 per cent, the production of eggs and broilers has been rising at 8 to 10 per cent per annum, making India the world’s fifth-largest egg producer.

Published on January 01, 2020
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