IB Group (Indian Broiler Group Pvt. Ltd) on Friday said that it has set up a Rs 200 crore venture capital fund for equity investments in startups working in the field of agriculture and poultry sector. Moreover, the investment would create more than 3 lakh 25 thousand direct and indirect employment opportunities across the nation. It will give a major boost to agriculture and poultry-based start-ups, the IB group said.
"The company has announced its investment scheme 'Parivartan Gen Nxt' with Rs 200 crore venture capital (VC) fund for equity investments to boost Agri-tech startups," Chhattisgarh-based IB Group said in a statement.
As per reports, the group will provide a 25 percent loan-free investment for a period of three years. It will also provide free farm management training for investors who grow their business through this investment scheme, the company said.
Company's Managing Director Bahadur Ali said, "We will create an entrepreneurial environment for Indian agripreneures by providing them modern technology used in the US and Europe in India itself."
The Group will provide a 25 percent loan free investment for a period of 3 years.
The voracious move is deliberated to create more than 25,000 employment opportunities accountable for Indian poultry growth and to motivate small poultry business owners to adopt it as a mainstream profession.
The Indian poultry industry is one of the fastest-growing segments of the Indian agriculture sector. As the production of agricultural crops has been rising at a rate of 1.5 to 2% while the production of eggs and broilers has been rising at the rate of 8 to 10% per annum, making India the world’s 5th largest egg producer.
With a humble beginning in 1985 driven by ambition, IB Group has evolved into a diversified industry giant with a presence in the poultry, FMCG, solvent, livestock feed, specialized pet food, and hospitality segments. Headquartered at Rajnandgaon in the Chhattisgarh state, the company has focused on research & development, advanced technologies and built a competent workforce to impart excellence in its business offerings. Undertaking a slew of socio-economic initiatives, the group has improved the lives of rural poultry farmers and underprivileged children, women, and youth.
