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Climate risk management firm Weather Risk Management Services Pvt Ltd (WRMS) plans to approach 30 lakh farmers across 150 districts in India to connect them with the Pradhan Mantri Fasal Beema Yojana (the Prime Minister’s Crop Insurance Scheme).
The company, which offers a range of services for farm sector and acts as an advisor, aggregator and facilitator, has served over 10 lakh farmers across 40 districts in the country so far, Sonu Agrawal, Founder and Managing Director, told BusinessLine . “Basically, we persuade the farmers to opt for crop insurance so as to minimize risk in the event of any untoward happenings to their crop,” he said.
Agrawal, an alumnus of IIT-Kanpur and IIM-Calcutta, said his company aims to improve the farmers’ lives by managing and protecting their crop from diseases, guiding them to get the best yields and train them in contributing to commodity market by forecasting weather and crop yield estimates.
Last year, UPL Ltd had acquired 26% stake in WRMS for Rs.10 crore.
WRMS, founded in 2004, is a climate risk management company that has pioneered the development of weather insurance market in India and has bailed out about five lakh disaster-hit farmers through weather insurance.
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