IFFCO Bags First Position Among Fortune 500 Companies in India

IFFCO or the Indian Farmers Fertilizers Cooperative keeps proving time and again that it is the largest fertilizer cooperative in India, and it has done so yet again. IFFCO has retained its “Rank 1” position among Fertilizer and Agro Chemicals industries in the nation in the Fortune 500 India rankings this year.

In addition to this, the firm stood at a decent 68^th position among the overall rankings of Fortune 500 companies in India, thus keeping up with its tradition of bagging top positions in the list every year. IFFCO happens to be the only cooperative in India, to have made it to the top 100 list, a matter in which all co-operative societies associated with IFFCO take enormous pride.

Crowd’s Reaction

IFFCO’s MD, Dr. U S Awasthi, shared this happy news with the public via twitter. Dr. Awasthi’s tweet was met with a warm reaction as people showered heaps of congratulatory messages. Besides expressing their happiness, some even deemed themselves fortunate for getting to work with the organization, under the able leadership of IFFCO’s MD.

Fortune 500 Rankings

The list of Fortune 500 companies in India is compiled every year by Fortune magazine’s Indian edition, which ranks the top 500 of the largest corporations within the country. These rankings are based on various aspects such as innovativeness, financial security, use of corporate assets, long-term investments, as well as global competitiveness.

Other Achievements

There have been other instances than the above-mentioned that have aided in establishing the fact that, be it domestic or global platforms, IFFCO as an organization remains undeniably good.  Recently the corporation was ranked first out of 300 global cooperatives in a report published by World Cooperative Monitor of International Cooperative Alliance.

IFFCO has been working towards ensuring food security in the country since the year 1967. The cooperative has established 5 huge plants across India and several global joint ventures such as KIT, Omifco, and JIFCO etc.

IFFCO also maintains a strong standing in International Fertilizer Association and a global board seat in International Cooperative Alliance. In the year 2017-18, IFFCO had an outcome of 84.79 lakhs MT fertilizers with a turnover of Rs. 20,788 crores.

IFFCO and Singapore-based technology firm iMandi join hands to help farmers

IFFCO has joined hands with Singapore-based technology firm, iMandi, and has started a platform for farmers with a total of investment of 80 crore, approx. This ecommerce platform provides an app known as IFFCO iMandi that looks after the needs of 5.5 crore farmers that are already a part of the cooperative.

Apart from this, there is also a web portal crafted for the same purpose, as mentioned by Dr US Awasthi. Email ID, Aadhaar numbers, and mobile numbers can be used to sign up with the portal.

iMandi

IFFCO eBazar, the subsidiary of IFFCO, has 26% stake in iMandi. The remainder, that is 74%, is what I-tech Holdings has, along with some other investors. US Awasthi has said that after they spearheaded the campaign throughout India to inform farmers about the use of digital and online transactions, IFFCO came up with the 'IFFCO iMandi' app. It is regarded as the destination for agri produce and inputs, insurance, loans, electronics, FMCG, and many other things.

The founder of iMandi Pte, VK Agarwal, said that USD 12 million were invested in the first phase of the project and a further USD 18 million were added for additional features. Plus, the farmers also have access ro the feature to sell their own produce.

Aim of iMandi

iMandi addresses the needs and requirements of the farmers with the objective of catering to the 55 million farmer user base. It was launched in Chandigarh for working towards the farmer’s community. The app can be easily downloaded from the App Store and Play Store for iOS phones and Androids and can be accessed via www.imandi.in as well.

Features of the app

The app has features for buying and selling, communication features like calling and chat, information or advisory content, and entertainment to keep the farmers more involved.

Farmers can purchase every IFFCO product, such as agro chemicals, seeds, and fertilisers, at discounted rates, and can also opt for free of cost delivery, right to their doors under the agri inputs marketplace.

IFFCO has always worked towards the upliftment of the Indian farmers and with this initiative, they have proved that their consistent efforts for the farmers continue to provide livelihood to countless farmers in India.

Major Products and Offerings of IFFCO iMandi

IFFCO iMandi is a digital platform that has been launched with an aim to bring all the farmers and cooperatives societies in India into contact. Dr US Awasthi, MD of IFFCO has mentioned that the objective of this portal is to offer a digital platform for communication as well as commerce between consumers and the different cooperative societies of IFFCO, as well as between two societies.

You can register with your Aadhaar card or mobile number and also connect your account to receive notifications and other communication on your email ID. Dr US Awasthi has further stated that this platform is available in 10 major languages to increase the ease of access for the population. These languages are:

• Hindi
• English
• Bengali
• Gujarati
• Marathi
• Punjabi
• Tamil
• Telugu
• Malayalam
• Kannada

Apart from being a digital platform where individuals and societies can come together, IFFCO iMandi also offers a number of products that consumers may purchase from the platform. The most popular of these products are:

Seeds

From 10 g packets to 5 kg bags, there are a number of seeds available at IFFCO iMandi for farmers to buy. The prices have been kept very affordable, and vary based on the seeds one buys.

Bio Fertiliser

Bio fertilisers contain live microorganisms, which help in the growth of a plant by increasing the supply of primary nutrients to the plant.

Plant Growth Promoters

These are substances that help by improving the overall health, growth, and development of plants. Plant growth promoters can either be produced synthetically or can be obtained from biological derivatives. These substances effect improvement in crop, productivity, and quality quite significantly.

Agro Chemicals

The word agrochemical has is a contraction of the term ‘agricultural chemical’. This is a chemical product that is used in agriculture and can refer to a number of products. In most cases however, it refers to pesticides, which include herbicides, fungicides, insecticides, and nematicides. It may also include hormones, synthetic fertilizers, chemical growth agents, etc.

General Insurance

Insurance offered via IFFCO Tokio is also available here. The policies that one can buy from IFFCO iMandi are:

• Janata Suraksha Bima Yojna
• Jan Sewa Bima Yojna
• Car Insurance Policy
• Two Wheeler Insurance
• Accident Insurance
• Pravasi Bhartiya Bima Yojna
• Family Health Protector Policy
• Individual Health Protector Policy
• Overseas Travel Insurance Policy
• Home Suvidha Policy
• Trade Suvidha Policy
• Tractor Insurance

A Brief About The IFFCO Social Ecommerce Application: IFFCO iMandi

IFFCO launched a web portal and social ecommerce application called the IFFCO iMandi in order to connect with the farmers digitally, with a goal to serve them. This initiative is on the same lines as PM Modi’s Digital India initiative and is crafted with an aim to benefit the farmers with the help of digital technologies. IFFCO wants to make a useful contribution to the digital revolution in rural India. With the help of IFFCO iMandi, it caters to over 55 million farmers and strives to become the largest rural ecommerce platform in the country. IFFCO chairman and MD have really gone the extra mile to improve the plight of farmers with this initiative.

IFFCO iMandi is the ideal destination for produce and agri inputs, loans, insurance, electronics, etc. IFFCO chairman and MD believe that this app will completely transform every rural home bit by bit, by impacting and empowering the lives of billions in India. Read on to know more about the features of iMandi:

Features of iMandi

1. iMandi has an access to IFFCO’s 36,000 cooperative societies, 55,000 point of sales, 30,000 warehouses,  and has over 250 million rural consumers at 16000 pin codes.
2. You can download the application from the App store, iOS phones, and Play store and it can also be used on the web. The application also comes laced with valuable advisory content and information for the farmers. Not only this, it also provides entertainment and useful communication to them.
3. IFFCO iMandi’s communication and social features aid people from various regions to establish a connection on one single platform. Users can easily join forums based on different topics. Plus, they will also be able to tell their own success stories and have a dialogue with subject-matter experts to get mentorship on different problems and issues. 
4. With the help of iMandi, farmers are given a chance to sell their own products at very good prices. The app also help the farmers gain access to various financial services like insurance, loans, etc.

Given the huge advantages offered by iMandi, one thing is for sure, that the future of farmers is in good hands.

Top Features of IFFCO Bazar

According to IFFCO MD Dr US Awasthi, IFFCO Bazar had been launched with an aim to connect the cooperative societies in India directly with Indian farmers. Launched by IFFCO, one of the largest cooperatives in the world, IFFCO Bazar has been labelled as an “Indian Cooperative Digital Platform”, and forms a part of the digital initiative and cashless drive announced by the Prime Minister. The main objective of the portal is to provide a platform that allows for commerce and communication between different societies and between consumers and IFFCO and group companies. IFFCO Bazar is available in 10 reginal languages to make it easy for the common man to use. It offers a chance to connect rural India to the rest of the country, without any hassles or hitch.

 

IFFCO Bazar

 
The platform, IFFCO Bazar, as mentioned earlier, is a single digital platform that offers the perfect place where farmers can stay connected with the rest of the country and can also order with ease products and services offered by IFFCO. This provides Indian farmers the chance to pay more attention to and get a better hold of the commercial side of their business.

Salient features of IFFCO Bazar

 
There are several features offered by IFFCO Bazar that help make it a one of its kind platform. Some of those features are:

• Using the Aadhaar or mobile number, IFFCO Bazar offers easy registration processes for individuals as well as societies
• Offers a collective of information about the IFFCO Bazar platform and the schemes offered on it
• Easy access for corporates to information about different member societies of IFFCO
• Information on various business opportunities that are available for individuals and societies with IFFCO and its Group Companies
• Offers single point contact details for queries
• It is also a discussion forum where you can ask questions, share ideas and best practices; it also offers a facility for comments and voting
• It offers opportunities to learn by self, through videos on a number of topics like soil testing, cashless payments, best practices in farming, rearing live-stock, etc.
• There is also an online Mandi where you can find information about probable buyers and sellers for livestock, farm-equipment, and other agri-produce. Here, you can also list requirements as a buyer or seller.
• Buy products and services of IFFCO and Group Companies online
• Get information about future events
• It is available in 10 Indian languages: Hindi, English, Bengali, Marathi, Gujarati, Punjabi, Telugu, Tamil, Kannada, Malayalam

With Free Delivery Schemes and no Minimum Order value for rural parts of India, IFFCO Bazar is all set to empower the farmers of our country to take hold of the commerce side of their business.