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Suminter India Organics to get $25m IFC investment

Suminter India Organics, one of India’s leading exporters of organic produce, is set to receive an in investment of US$25 from the International Finance Corporation (IFC), part of the World Bank, according to the IFC’s news portal.

Suminter India Organics is engaged in sourcing, processing and exporting of certified organic products from India. IFC’s investment will help the Company expand its procurement and processing operations across the states of Madhya Pradesh, Rajasthan, Odisha, Maharashtra and Karnataka (the “Project”) at an approximate cost of up to $ 25 million.

The proposed IFC investment would be used for funding additional working capital needs for growth for the next few years and capital expenditure for the expansion of its existing processing facilities in Madhya Pradesh .

IFC says that an additional 14,000 farmers in the low-income states of India will benefit from the project by gaining an access to the market and learning better farming techniques, thus, resulting in improvement in incomes (through higher yields and better quality output).

IFC also sees scope for significant value addition as produce sourced from certified organic farms – and the products from these farms –“typically fetch better realizations than conventional products”.

Additional benefits include an employment boost across low-income regions of India, and providing access to those communities to the global organics market

The project will also generate direct and indirect employment across various parts of the supply chain such as storage and transportation, particularly in the frontier, low income regions of India.

 

 

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About the Author

Jim Manson

Writer & Editor
Jim Manson is editor-in-chief of Diversified Communications UK‘s natural and organic publishing portfolio. He’s written widely on environment and development issues for specialist magazines and national media, including the Financial Times, The Guardian, The Times, and World Bank Urban Age

Articles by Jim Manson

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