IFFCO, the fertiliser cooperative major that is also known as Indian Farmer Fertiliser Cooperative Limited has come up with a strategic partnership with South Korea's two leading firms for exploring opportunities in farm credit sector and agriculture. The two known South Korean firms are LS Mtron Ltd that deals in agriculture equipment manufacturing and NH Capital co. Ltd that is a leading financial service provider.
This is a great move as the farm and agriculture credit sector are still evolving in India. IFFCO too for a long time has been trying to expand its footprint beyond chemical fertiliser and was looking for partners to venture in agri-credit sector and farm machinery. With the entry of established players like IFFCO in these emerging markets will excite the much-needed competition in the sector and with the following partnership between the South Korean firms and IFFCO, the joint connection will allow in exploring different business opportunities in supply, sales and distribution of agricultural machinery along with finance to cope up with the market demand in the emerging market of India.
The Indian Farmer Fertiliser Cooperative Limited is a large scale fertiliser cooperation federation. It is registered as Multistate Cooperative Society in India and is one of the biggest cooperative society which is completely owned by Indian Cooperatives.