By signing an MoU with Harvesting India Private Limited that works with farmers throughout the crop lifecycle to help them receive better pricing for their products and lower farm input costs, GRM Overseas Limited, one of India's top exporters of basmati rice and a consumer staples company, has made its first step into the agrotech field. Additionally, Harvesting India Private Limited provides farmers with marketing, financial, and technological support.
In 2023, Harvesting India Private Limited will purchase up to 20,000 MT of paddy, 12,000 MT of wheat, and 5,000 MT of mustard on behalf of GRM, in compliance with the terms of the agreement. On their online platform, HFN will market and market GRM goods under the name 10X for direct consumer sales. Aimed at farmers and villagers, HFN will also place the "10X" items at their HFN Kisan Centers. This will aid the GRM in improving the value of its brand in rural areas.
The partnership is aimed at consistently delivering GRM clients the greatest possible quality of goods whilst still assisting farmers and reviving the agriculture sector, which serves as the backbone of the Indian economy. The MoU strives to assist farmers in planning their agricultural production by buying the items directly from them, permitting each one to generate noticeably higher yields and earnings.
“By adding additional staple products to our portfolio and keeping our promise to customers to only offer them the highest-quality goods, this partnership will help us broaden our reach in the market. With HFN agreeing to market and sell our products on their platform and Kisan stores, it will help us improve our brand presence and value amongst the rural areas of the country. To make sure that our customers can access our products, we will implement strict and proactive quality control methods. HFN is an organization dedicated to assisting farmers and the agricultural sector, two crucial pillars of our economy, and we are pleased that, thanks to this agreement, we will be enhancing farmers' incomes and moving closer to revitalizing the sector.” as commented on this significant partnership by Atul Garg, Managing Director of GRM Overseas Limited.
Ruchit Garg, Founder & CEO of Harvesting India Private Limited stated "We are super excited to partner with GRM Overseas Ltd. It’s a testament to the grassroots-level work HFN is doing with small-scale farmers. This partnership will allow us to further drive our mission to enable 120 million small-scale farmers in India"
In addition to selling items under its own trademarks, such as "10X," "Himalaya River," and "Tanoush," GRM also does so by private label agreements under the brands of its clients. With three rice processing facilities headquartered in Panipat (Haryana), Naultha (Haryana), and Gandhidham (Haryana), GRM has a total yearly output capacity of 4,40,800 MT (Gujarat) in the country, GRM has established a market for its rice in more than 38 nations, earning the distinction of being India's third-largest importer of rice.
From its very modest beginnings in 1974, the Corporation has come a long way, establishing itself as GRM. It was founded as a rice trading and processing business, but it's evolving into a company that sells everyday necessities. The Middle East, the United Kingdom, and the United States were the first few of the countries to purchase rice exports from GRM.
