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September, 2006 Pragati Maidan, New Delhi, India |
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Bharti Ties Up With Rothschilds To Enter Agro- Produce Sector
Bharti Enterprises, known till date for its telecom brand Airtel has invested rupees 2500 million into a new fresh fruit and vegetables export business.
FieldFresh Foods, a 50: 50 joint venture of Bharti Enterprises with Us based financial investors de Rothschilds, targets selling 10 to 20 jumbo loads (400 – 800 tonnes) of fruits and vegetables every day to malls and superstores in Europe, South East Asia and Middle
East, 18 month after launch. There is immense potential in the farm sector but corporate investments have been slow and few. The company aims to kick start investment by January next year.
FieldFresh promises that its fruits and vegetables will confirm to international environment and standards and will assist farmers in obtaining `organic` certification to boost sales. Around 70% of India`s agri- produce is already organic, its just not certified as such. FieldFresh will export only fruits and vegetables and has no plans for grains, oils, seeds or other farm commodities. Domestic sales will not begin until at least a few months after launch.
FieldFresh will focus on niche international markets that demand specific fruits and vegetables from India. Brinjals and ladyfingers are high- demand vegetables in West Asia and Middle East, where a large number of the Indian diaspora live. Similarly, grapes from Uttar Pradesh have large untapped markets in the UK. FieldFresh will start up a model farm in Pujnab to dissipate modern farming techniques to farmers from UP, Haryana, Uttranchal, Punjab, JandK, Himachal and Maharastra.
Date: 28-Oct-2004
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