IG International, one of the country's fresh fruit importers, has formed a joint venture with Deccan Exotics called IG Deccan Pvt Ltd to establish an avocado plant nursery and grow five million trees over the next five years.
According to an IG International statement, the joint venture was formed to redefine and alter avocado consumption in India by making the fruit "a native commodity" across the country.
The plant nursery will be based in or near Hyderabad and will handle all new varieties from global breeding companies. It will assist cultivators in India with sublicensing to grow avocados.
"The long-term goal is to make IG Deccan Pvt Ltd India's largest avocado nursery," according to the statement.
IG International, which has been in the fresh fruit market for over five decades, began importing fresh fruits in 2002 and has an organized, strategic sourcing system that is supplemented by a supply chain that is well-connected with an overseas procurement network.
Specializing in Dragon Fruits
Deccan Exotics is a privately owned orchard and horticultural research centre specializing in dragon fruit cultivation. The innovative facility spans 30 acres and provides an ideal horticulture environment close to the Fruit Research Station in Sangareedy, Telangana.
The company grows the most dragon fruit varieties in the country, cultivating 27 varieties in total, including hybrids and seven commercial varieties.
"Our joint venture with a pioneering company like Deccan Exotics will help us create a blooming biome for avocado exclusively for our buyers in India, and it will also create an opportunity for India to be the next big avocado market for importers abroad," Tarun Arora, Director of Finance and Operations of IG International, said in the statement.
"We are thrilled to form a new joint venture with market leaders like IG International to bring the taste of home-grown avocados to every plate in India," said Dr. Srinivas Rao Madhavaram, CEO and Founder, Deccan Exotics. Their flawless distribution, combined with our inventive R&D capabilities, will form an ideal synergy to produce the best product."
