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HomePosts Tagged "Shardul Sheth"
Agribusiness, Company News, India, Start ups, Sustainability

Company demonstrates commitment to sustainability and empowers over 9 million Indian farmers.

 AgroStar, India’s foremost AgTech company which serves over 9 million Indian farmers and reaches global customers across 25+ countries, proudly announced the release of its comprehensive Environmental, Social, and Governance (ESG) impact report 2024, titled ‘Sowing Seeds of Sustainability.’ The impact assessment was conducted by Aspire Impact, a leader in impact leadership and ecosystem development.

Aspire used its proprietary 4P framework to assess AgroStar’s impact across People, Planet, Product, and Policy. These are further broken down into 13 categories and 40 impact standards, with around 160+ metrics collected and analysed. In recognition of AgroStar’s exceptional impact performance, Aspire Impact has awarded the company the ‘Gold Leaf’ rating. “Helping Farmers Win,” is at the heart of AgroStar’s operations and the company focuses on five key stakeholders: employees, retail partners, last-mile delivery partners, global customers, and most importantly, farmers.

AgroStar employs a cutting-edge digital-first strategy, delivering scientific agronomy knowledge through multiple channels. This approach has successfully resolved over 10 million farmer queries and garnered over 325 million video views, ensuring farmers receive expert guidance anytime, anywhere.

The ESG report provides a comprehensive view of the initiatives and actions undertaken by AgroStar. Key highlights of the report include:

Increased Yield and Reduced Costs: Indian farmers have increased their yield by an average of 27% with the help of AgroStar products and advisory services while reducing their input cost by 17 per cent.

Water Conservation: The company’s agri-input products have contributed to the global cause of water conservation by reducing water consumption by 423 billion litres.

Carbon Sequestration: The use of the company’s environmentally friendly products has helped restore 580 metric tonnes of carbon matter into Indian soils.

Reduced Food Wastage: Optimal post-harvest processes introduced by the company have led to a reduction in food wastage to less than 1% in its supply chain, compared to industry standards of 6-10%.

Product Safety and Traceability: The company’s F&V brand ‘Kimaye’ ensures product safety by achieving 100% compliance with the food safety requirements of 25+ importing countries. Additionally, 100% of Kimaye products are part of a traceability system.

Workforce Diversity: The company promotes workforce diversity and provides work opportunities to women in the rural agriculture ecosystem, with over 75% of employees being women at its fruit and vegetable packhouses.

Economic Opportunities for Women Farmers: The company offers equitable economic opportunities to women farmers, providing them a premium price for their produce procured for its ‘Kimaye’ brand.

Shardul Sheth, Co-founder & CEO of AgroStar, expressed his pride and commitment in the following statement: “Since our inception, we have been driven by a deep-rooted commitment to making a meaningful impact on the lives of farmers across India. As an organisation deeply entrenched in the agriculture sector, driving positive change is woven into our DNA. Our ESG Report 2024 – ‘Sowing Seeds of Sustainability’ – not only measures the direct and indirect impact of our work but also showcases our dedication to sustainable development. We are incredibly proud to have received a gold rating from Aspire Impact for our sustainability efforts and committed to driving impact on our identified UN SDGs (sustainable development goals) and our mission of Helping Farmers Win.”

Arvind Sridharan, Co-founder & CEO of Aspire Impact, mentioned, “We had the privilege of assessing AgroStar’s transformative impact on the Indian agriculture ecosystem through extensive interactions with their farmers, partners, and employees. Their commitment to sustainability and innovation is evident in every aspect of their work. This report showcases their dedication to driving positive change and sets a high standard for transparency and accountability in the industry.”

Company demonstrates commitment to sustainability and empowers

Agribusiness, Digital Technologies, E-commerce, India, Interaction, Start ups

– Shardul Sheth, Co-founder & CEO, AgroStar

Established in 2013, AgroStar stands as a pioneering AgTech startup in India, dedicated to the mission of “Helping Farmers Win.” By providing real-time agronomy advisory services and facilitating access to premium farm inputs, AgroStar has empowered farmers to cultivate higher-quality crops, resulting in remarkable yield increases ranging from 30 to 100 per cent. The key to this success lies in AgroStar’s distinctive omnichannel network, which boasts a massive outreach, engaging over 7.5 million farmers and encompassing a rapidly expanding retail network of more than 7000 agri-input stores in 7 states. Additionally, AgroStar’s strategic acquisition of INI Farms, a prominent fruit and vegetable (F&V) exporter in India, has further amplified its impact by enabling farmers to tap into global markets with more favourable rates for their produce. Shardul Sheth, Co-founder & CEO of AgroStar, shares his insights into the dynamics of the agri-input and output e-commerce market in India, with AgroSpectrum. Edited excerpts;

How is Agrostar contributing to the growth of agri-input digital marketplaces in India?

One of the biggest factors that is driving the growth of agri-input marketplaces is the access these platforms provide to a wider range of products to farmers. While providing access to agri-inputs is the foundational aspect, what sets AgroStar apart is the provision of high-quality bespoke agronomy advisory services alongside a diverse array of superior agri inputs.

One of the primary challenges farmers face is the need for up-to-the-minute information on progressive farming practices. AgroStar addresses this challenge through its farmer advisory centre and mobile app, granting farmers access to a wealth of agronomy knowledge. Through the app, they can stay abreast of the latest farming techniques, pest and disease management, and receive real-time personalised advice from AgroStar’s Agri-Doctors. This empowerment enables farmers to make informed decisions that enhance their crop yields. To date, the AgroStar mobile app has successfully resolved over 12 million queries from farmers, with a monthly influx of 70 million-plus data points into AgroStar’s data stack, reinforcing our capacity to deliver customised agronomy guidance on a large scale.

It is through this tailored agronomy guidance that AgroStar can recommend the most suitable agri inputs to our farmers, who can conveniently make purchases through our app and have them delivered to their doorstep or opt to visit an AgroStar store, also known as AgroStar ki Laal Dukaan in their vicinity. 

What is the status of agri-input and output digital marketplaces in India?

India has seen a proliferation of agri-input and output platforms in recent years. These platforms aim to bring transparency, efficiency, and convenience to agricultural transactions. However, the landscape is dynamic, and several factors influence its current status.

Growth: Agri-input digital marketplaces have been growing due to the increased adoption of technology in rural India. Farmers are increasingly using these platforms to procure quality seeds, fertilisers, pesticides, and other essential inputs.

Government Initiatives: Various government initiatives aimed at promoting digital agriculture platforms have further contributed to the growth of the sector. Visionary programmes like e-NAM (National Agriculture Market) designed to connect agricultural markets online, have the potential to create a substantial impact over time.

Challenges: Persistent challenges such as digital literacy, limited internet connectivity in rural areas, and trust in online transactions continue to pose obstacles. As technology advances rapidly, the essential skills required for its utilisation become crucial. There are still pockets of regions with low or intermittent internet access, even though mobile phone penetration has accelerated over the last few years. Establishing last-mile delivery systems in remote locations remains a challenge.

Opportunity: Despite challenges, new opportunities are emerging that can propel the sector’s growth. Platforms like Open Network for Digital Commerce (ONDC), for instance, can provide an avenue for every seller or brand to reach a broader audience of farmers across the country. This presents an opportunity for brands or sellers to expand their reach and offerings rapidly while providing farmers access to a more extensive range of products.

Which segment of agri-input is leading in the e-commerce market, and what are the driving factors of the agri-input e-commerce market?

We are witnessing a surge in farmers’ interest across various categories within agri-input e-commerce, including Seeds, Crop Nutrition, Crop Protection products and Farm Implements. However, each of these categories requires distinct levels of service in terms of advisory. For example, farmers often seek advisory support to identify the nature of the pest attacks on their crops before using crop protection products.

Some of the factors that are driving the growth of the sector include:

Access to Quality Inputs: E-commerce platforms aim to provide farmers with access to a diverse range of high-quality agricultural inputs, enabling them to make informed choices based on their specific crop and soil requirements. Marketplaces enable brands to reach a broader audience and explore new regions.

Advisory Services: One of the core issues faced by farmers is the lack of information about progressive farming practices. To be an effective agri e-commerce marketplace, companies must prioritise building robust advisory capabilities. This includes offering crop management tips, pest control advice, and guidance on suitable inputs, thereby enhancing the overall value proposition for farmers.

Convenience: Online purchasing offers a convenient alternative to farmers, saving them time and effort compared to traditional methods. Farmers can browse, select, and order products from the comfort of their homes.

To read more click on: https://agrospectrumindia.com/e-magazine

- Shardul Sheth, Co-founder & CEO, AgroStarEstablished

Horticulture, India, Start ups

Agrostar group and LuLu Group are already working on pomegranates and Guavas to bring Indian fruits to the supermarkets and hypermarkets of the LuLu Group in the Middle East.

In a landmark development for the Indian F&V/horticulture sector, INI Farms, part of the AgroStar group, has entered into a Memorandum of Understanding (MoU) with LuLu Group International, to build a direct farm-to-retail partnership for the Indian Cavendish Bananas. This is a further extension to a long-term partnership between the two groups already working on pomegranates and Guavas to bring Indian fruits to the supermarkets and hypermarkets of the LuLu Group in the Middle East.

The MoU signing on 23 January 2024, is a groundbreaking moment for Indian Banana exports as it marks the direct servicing of a reputed large global retailer like LuLu Group International by an Indian F&V Brand. The event kicked off earlier in the day with the Flag-Off of the first container from INI Farms’ packhouse in Baramati to LuLu Group UAE, followed by the MoU signing event at Pune, ushering in a new era of partnership and progress in the Indian F&V export business. The event was graced with the presence of Salim M.A., Director, LuLu Group International along with dignitaries such as Dr Sudhanshu, Secretary, APEDA, Dr Brajesh Mishra, Head, Regional Plant Quarantine Station, Mumbai, along with other senior representatives from NABARD, Aavishkaar Group and Maharashtra Agriculture department.  

Under this strategic partnership, INI Farms working with the AgroStar network of farmers in Maharashtra and Andhra Pradesh, will adhere to the highest standards of quality required for its products to be in global supermarkets and ensure a year-round supply to meet the demand of the LuLu’s end consumers. The partnership highlights the capabilities of the AgroStar group to serve Indian farmers across the value chain and fulfill the quality expectations of customers across the world. AgroStar’s tech capability, strong farmer relationships, agronomy expertise and wide range of agri input products combined with INI Farms’ strong sourcing, post-harvest & supply chain capabilities and its global network of customers/retailers gives the AgroStar group a unique advantage in India’s AgTech landscape.

Sharing her thoughts on the momentous occasion, Purnima Khandelwal, CEO, INI Farms said, “This MoU is a significant milestone not just in the journey of INI Farms, but also for Banana and Guava farmers across the country. We are excited about the prospect of directly servicing a highly reputed global retailer like LuLu and ensuring the highest quality of Indian bananas and Guavas from our farms to their retail shelves. We are grateful for the faith and trust shown by LuLu Group and excited about the opportunities this collaboration can bring for Indian farmers.”

Speaking during the event, Shardul Sheth, Co-founder and CEO, AgroStar said: “INI Farms has gone from strength to strength over the past few years. Last year, we witnessed landmark developments like the first Indian consignment of our ‘Kimaye’ branded bananas being shipped to the Netherlands and becoming a pioneer in the industry to successfully ship great quality pomegranates to the USA among other achievements. Our collaboration with LuLu Group International is yet another important milestone and a testament to our capability to be able to supply F&V products of global quality standards to marquee retailers and end customers around the globe and our passion to continue to build deep and meaningful relationships servicing the seed to market linkage needs of our farmers.

Sharing his thoughts during the event, Salim M.A., Director, LuLu Group International said, “This MoU is not just a trade deal, it is about celebrating the rich agricultural diversity of our nation and supporting our hardworking farmers. LuLu Group International aims to be the pioneer in sustainable agriculture and set new standards in quality and innovation. We have been working with INI Farms for close to a decade and this MoU further strengthens our collaboration. Together, in collaboration with our farmers and partners we will explore new markets and contribute to the growth of the agriculture sector. This MoU is a milestone and I’m confident that our partnership will be marked by success.”

Dr. Sudhashu, Secretary, APEDA, Ministry of Commerce & Industries shared his thoughts at the event, “The MoU signing, and Flag-Off event marks a historic moment for the Indian AgTech industry, representing a leap toward making banana exports the first billion-dollar fruit out of India in the next couple of years.”

Agrostar group and LuLu Group are already

Company News, Horticulture, India, Start ups, Supply Chain, Trade

The success of this trial shipment promises to unlock fresh prospects for Indian banana farmers in a market as quality conscious as Europe.

 AgroStar, one of India’s foremost AgTech start-ups, working on the mission of Helping Farmers Win, is proud to announce a significant milestone achieved by its subsidiary, INI Farms. In an encouraging development for banana farmers in India, the first consignment of INI Farms’ ‘Kimaye’ branded bananas has been shipped to Fresh Del Monte in Europe, opening new horizons for the export of fresh Indian fruits.

The pilot was executed by INI Farms in collaboration with Agricultural Products Export Development Authority (APEDA), along with support from ICAR-Central Institute for Subtropical Horticulture (CISH), Lucknow for technical assistance, Fresh Del Monte for marketing and distribution in Europe, and Maersk for logistics. The export venture was flagged off on 9th November by APEDA Chairman Abhishek Dev from Baramati, Maharashtra.

Over the years, APEDA-registered INI Farms has earned a reputation for its strong sourcing infrastructure with inbuilt SOPs and enhanced the quality and shelf life of bananas to meet the stringent requirements of the European market.

Sharing her thoughts on the momentous occasion, Purnima Khandelwal, CEO, INI Farms said, “We are delighted to partake in this trial shipment aimed at cementing India’s presence in the banana trade in Europe. The success of this trial shipment promises to unlock fresh prospects for our banana farmers in a market as quality conscious as Europe.

Over the years, our brand ‘Kimaye’ has become a well-known global consumer F&V brand out of India, synonymous with great quality and food safety. We are proud to join hands with thousands of banana farmers across India as we cater to the growing global demand for Indian bananas.”

Shardul Sheth, Co-founder & CEO, AgroStar, expressed his enthusiasm, stating, “India is the largest producer of bananas in the world. We see massive opportunities in banana exports and its potential to transform the lives of banana farmers across the country. We are committed to working closely with our farmers and partners and make it the first billion-dollar revenue fruit category from India.

We extend our heartfelt gratitude to APEDA, ICAR, and all our cherished partners. Their unwavering support and invaluable contributions have been pivotal in steering us towards this momentous occasion.”

“We are proud to be the first company to market and distribute Indian bananas in Europe and to be a member of the partnership that made this happen,” said Mohammad Abu-Ghazaleh, Fresh Del Monte’s Chairman and Chief Executive Officer. “Opening a new source of bananas to the entire European continent is a huge milestone and we hope this is just the beginning. We see this as a win-win for all parties involved, including consumers and banana growers across India. Thank you to our partners in this endeavour whose expertise in various sectors made this possible.”

The success of this trial shipment promises

Company News, Horticulture, India, Start ups, Supply Chain, Trade

The first consignment of 150 boxes of INI Farms’ – ‘Kimaye’ branded pomegranates has been air-shipped to New York, USA

AgroStar, one of India’s foremost AgTech start-ups, working on the mission of Helping Farmers Win, is proud to announce a significant milestone achieved by its subsidiary, INI Farms. In a positive development for pomegranate farmers in India, INI Farms has successfully conducted a trial shipment of high-quality pomegranate exports from India to the USA, opening up new avenues for the export of Indian fresh fruits.

The pilot was executed by INI Farms in collaboration with Agricultural Products Export Development Authority (APEDA), National Plant Protection Organisation (NPPO), Maharashtra State Agricultural Marketing Board, and Pomegranate Research Centre, Solapur. The first consignment of 150 boxes (450 kg) of INI Farms’ – ‘Kimaye’ branded pomegranates has been air-shipped to New York, USA. The export venture was virtually flagged off by Chairman, APEDA at the Irradiation Facility Center in Vashi (Navi Mumbai). The successful export of pomegranates to the USA highlights the immense potential opportunities that lie ahead for Indian farmers and the country’s F&V exports on a global scale.

Sharing her thoughts on the milestone, Purnima Khandelwal, CEO, INI Farms said, “The efforts of the entire INI Farms’ team over the years have helped put the Indian Farmer on the world map by making great quality Indian fruits available around the world. ‘Kimaye’ is now a well-known global consumer F&V brand out of India, synonymous with great quality and safety. We are delighted to enable this significant trial to establish India’s pomegranate trade with the USA and excited about the opportunities and increased livelihoods it can bring for our farmers.”

Shardul Sheth, Co-founder & CEO, AgroStar, expressed his enthusiasm, stating, “We are proud to be the pioneers in the industry to successfully ship great quality pomegranates grown by Indian Farmers to one of the most quality-conscious markets in the world, the USA. This pilot is an important milestone in our journey of opening up new horizons for Indian farmers and contributing to the growth of F&V exports from India. We are grateful to the role of APEDA, NPPO, Maharashtra State Agricultural Marketing Board, Pomegranate Research Centre, Solapur and US APHIS for their role in achieving this milestone.”

The first consignment of 150 boxes of

Agrotech, Horticulture, Interaction

Founded in 2013, AgroStar primarily offers advisory to  farmers and access to quality agri-products through their  retail stores. AgroStar currently operates in the states  of Gujarat, Maharashtra, Rajasthan, Madhya Pradesh,  and Uttar Pradesh serving over 18 million farmers and  covering over 7,500 pin codes. Agri Advisory Center is the  largest such centre in South Asia in the field of agriculture. Recently, AgroStar acquired INI Farms Pvt Ltd, the largest  exporter of fruits like bananas and  pomegranates from  India, in a 100 per cent acquisition deal. The acquisition will help AgroStar to rapidly scale their business into the domestic and international food supply chains, as well as achieve their target of Rs 1000 crore in FY23, a threefold jump in revenues. Shardul Sheth, Co-founder & CEO, AgroStar interacts with AgroSpectrum about the future of horticulture exports in India. Edited excerpts;

Recently AgroStar has acquired the largest exporter of F&V crops, INI Farms. How will the company provide market linkage solutions for the
domestic and export markets to INI Farms’ large network of farmers?
AgroStar is India’s largest digital network of farmers and has created an AgTech platform that provides farmers with good quality agri-inputs and on-time advisory. These value propositions have helped millions of farmers increase their yield, reduce their cost of cultivation and improve the quality of their produce, thereby helping farmers earn more. Just like the assistance on the input side, our farmers are seeking our support in providing better market linkages to sell their produce. With repeated farmer requests over the years, venturing into the output side was the logical next step in our mission of Helping Farmers Win. INI Farms has spent a decade building a brand focused on making great quality fresh fruits of Indian origin available to the world. It is now India’s largest exporter of bananas and pomegranates. Its brand “Kimaye” is available in more than 35 countries around the world. AgroStar will provide additional value to its large network of farmers by making its produce available to quality-conscious consumers around the globe. INI Farms’ customer base of global retailers will get access to a wider basket of F&V products. AgroStar will also provide access to great quality inputs, tech-based farm interventions, and solutions designed to increase yields to INI Farms’ network of farmers across multiple states. INI Farms’ acquisition provides a great opportunity for our farmers to expand their business to new and international markets, and our global customers will also now have access to a much wider and more diverse crop base.

To read more click: E-Magazine – Agrospectrum India

Founded in 2013, AgroStar primarily offers advisory