Iffco

IFFCO-Tokio crosses Rs 10,000 crore gross written premium in FY23

IFFCO-Tokio General Insurance on Friday said it has achieved a milestone of generating Rs 10,000 crore of gross written premium for the current fiscal. IFFCO-Tokio General Insurance Company Limited is a 51:49 joint venture between Indian Farmers Fertilizer Co-operative (IFFCO) -- one of the world's biggest cooperative societies -- and Tokio Marine Group, the largest listed insurance group in Japan. HO Suri, Managing Director and CEO of IFFCO Tokio, said there are many segments of the business, which represents growth. However, Health Insurance and Crop Insurance verticals are the top most segments, witnessing a growth of 28 per cent and 47 per cent, respectively, he said. In terms of geographical growth, Suri said Assam, Maharashtra, Madhya Pradesh and Chhattisgarh and West Bengal have shown remarkable growth. "Besides, our active policyholders figure has also been improved significantly. Overall, the gross premium witnessed a growth of 16 per cent compared to the last financial .

IFFCO, Coromandel International to manufacture Nano DAP for 3 years: Govt

Fertiliser cooperative major IFFCO and Coromandel International Ltd (CIL) will manufacture Nano DAP for a period of three years. A notification in this regard was issued on March 2, Minister of State for Chemicals and Fertilisers Bhagwanth Khuba said in his written reply to the Lok Sabha on Friday. Di Ammonium Phosphate (DAP) is the second most widely consumed fertiliser after urea in the country. The minister further said IFFCO has informed that it is setting up a Nano DAP plant at its Kalol unit, Gujarat with a production capacity of 2 lakh bottles of 500 ml per day. "Nano DAP will be available in the market across the country after commencement of commercial production," he added. On its benefits, the minister shared that preliminary field trials were conducted by IFFCO and CIL on select crops in select institutes of Indian Council of Agricultural Research (ICAR). The report has indicated that with the use of Nano DAP as seed treatment and foliar application, there is a ...

IFFCO, Coal India to manufacture Nano DAP for three years, says govt

The government on Friday said fertiliser cooperative major IFFCO and state-owned Coal India Ltd (CIL) will manufacture Nano DAP for a period of three years. A notification in this regard was issued on March 2, Minister of State for Chemicals and Fertilisers Bhagwanth Khuba said in his written reply to the Lok Sabha. Di Ammonium Phosphate (DAP) is the second most widely consumed fertiliser after urea in the country. The minister further said IFFCO has informed that it is setting up a Nano DAP plant at its Kalol unit, Gujarat with a production capacity of 2 lakh bottles of 500 ml per day. "Nano DAP will be available in the market across the country after commencement of commercial production," he added. On its benefits, the minister shared that preliminary field trials were conducted by IFFCO and CIL on select crops in select institutes of Indian Council of Agricultural Research (ICAR). The report has indicated that with the use of Nano DAP as seed treatment and foliar application

Growth booster nano-DAP's production may kick off in Paradeep soon

The detailed production plan and other targets are being finalised

Nano-DAP included in Fertilizer Control Order paving way for early release

DAP is the second most consumed fertilizer in the country after urea and out of the estimated annual consumption of around 10-12.5 mn tonnes; local production is around 4-5 mn tonnes, rest is imported

Ministry of Agriculture approves launch of IFFCO's nano DAP fertiliser

Cooperative organisation IFFCO, which introduced nano liquid urea, said on Friday that the government has approved the launch of its nano DAP fertiliser in the market. IFFCO MD U S Awasthi tweeted that IFFCO's nano DAP has been approved by the Ministry of Agriculture and notified in the Fertiliser Control Order (FCO) based on its encouraging results. "IFFCO will manufacture #NanoDAP; a game changer for Indian agriculture & economy," he tweeted. In December, Awasthi had said IFFCO would soon launch nano DAP at Rs 600 per 500 ml bottle, a move that would help India save foreign exchange and reduce government subsidy significantly. He announced that nano DAP will be sold at Rs 600 per bottle of 500 ml. One bottle will be equivalent to one bag of DAP, which currently costs Rs 1,350. IFFCO was also planning to launch nano potash, nano zinc and nano copper fertilisers, he had said. In June 2021, IFFCO launched nano urea in liquid form as an alternative to conventional urea. It has also

Use of nano-urea, DAP game-changers? Manufacturers in 'wait-and-watch' mode

The government claims the use of nano urea and DAP can be game-changers, but many private fertiliser manufacturers remain in wait-and-watch mode

IFFCO to export nano urea to 25 nations, expects 30 cr bottles output: MD

Fertiliser major IFFCO Ltd is eyeing nano urea exports to 25 countries and expecting that output is likely to be 30 crore bottles by December 2024, a top company official said on Tuesday. The company is currently exporting the fertiliser to five countries, he said. "We have already produced six crore bottles of 500 ml each and have sold five crore units to farmers, which is equivalent to 22 lakh tonne of solid urea or conventional urea...We are already exporting to Sri Lanka, Nepal, Kenya, Suriname and Mexico," Indian Farmers Fertiliser Cooperative (IFFCO) Managing Director US Awasthi told PTI in an interview. After Prime Minister Narendra Modi inaugurated the world's first nano urea plant at Kalol in Gujarat last year, the company is exporting the fertiliser product, which has the potential to cut down the use of conventional urea, the most used Nitrogenous fertiliser, by 50 per cent or more, to the five nations, he said. Nano urea samples have been sent to 25 other countries and

Centre's three new national cooperatives signal sector's growing clout

But, critics say the approach in forming should have been bottoms-up instead of top-down

IFFCO to soon launch nano DAP at Rs 600/bottle of 500 ml; sees huge savings

After introducing nano liquid urea, cooperative IFFCO aims to launch nano DAP fertiliser in the market soon at Rs 600 per 500 ml bottle -- a move that will help India save foreign exchange and also reduce government subsidy significantly. IFFCO is also planning to launch nano-potash, nano-zinc and nano-copper fertilisers, its Managing Director U S Awasthi said while addressing an agriculture conference organised by digital media platform Rural Voice. In June 2021, cooperative IFFCO launched nano urea in liquid form as an alternative to conventional urea. It has also set up manufacturing plants to produce nano urea. Awasthi said IFFCO has produced 5 crore bottles of nano urea so far, out of which 4.85 crore bottles have already been sold. He highlighted that the price of nano urea is less than conventional urea and it is also more effective and convenient. There is no government subsidy on nano urea and it is being sold at Rs 240 per bottle. For conventional urea, the government ...

IFFCO scam: Money laundering affects promotes terrorism, says court

Money laundering not only affects the social and economic fabric of the nation but also promotes terrorism, a Delhi court said on Wednesday while dismissing the the bail application of an accused in the alleged IIFCO fertiliser scam where Rs 685 crore was claimed to have been paid as kickbacks. Special Judge Vikas Dhull made the observations while denying relief to Sanjay Jain, who was arrested for allegedly channelling the proceeds of crime from foreign shores to India. The case relates to payment of illegal commissions worth over Rs 685 crore to the NRI sons of Indian Farmers Fertilizer Cooperative Limited (IFFCO) Managing Director and CEO U S Awasthi and Indian Potash Ltd (IPL) Managing Director P S Gahlaut and others by overseas suppliers during 2007-14. This was allegedly done through transactions facilitated by AgustaWestland VVIP choppers deal case accused Rajiv Saxena. The case also involves RJD Rajya Sabha MP Amarendra Dhari Singh, who is currently out on bail. The court .

Govt amends Multi State Cooperative Societies Act to bring in transparency

Credit cooperatives constitute the bulk of the MSCS (610), followed by agriculture-oriented MSCS (244)

Foundation stone for IFFCO's nano area plant to be laid in Bengaluru today

IFFCO said it has planned to set up another eight plants across the country with a capacity of 34 crore bottles (500 ml) per annum

India set to be self-sufficient in urea by 2025 even without help from nano

The commissioning of new plants is expected to bring down import dependency to less than half of current levels

India may not need to import urea after 2025, says Mansukh Mandaviya

This is owing to rising domestic production, nano supplies

Centre planning export houses exclusively for cooperatives: Amit Shah

Cooperative model of development is best suited for the country, says union minister

A first: After the success of nano urea, nano-DAP soon for farmers

Fertiliser major IFFCO has been asked to do the groundwork on this

Nano urea will boost crop production, increase farmers' income: IFFCO

Prime Minister Narendra Modi on Saturday virtually inaugurated the world's first nano urea liquid plant by IFFCO near Kalol town of Gujarat's Gandhinagar district

Fertiliser companies raise DAP, NPK rates on spike in input costs

IFFCO hikes DAP prices by 12.5%; existing stock will continue to be sold at old rates

IFFCO ranks first among top 300 cooperatives in the world, retains position

The Indian Farmers Fertiliser Cooperative Limited (IFFCO) has been ranked 'number one Cooperative' among the top 300 cooperatives in the world.