IFC ties up with Bayer, Swiss Re to reach out to small Indian farmer

Project will provide all-round solutions such as seeds, precision farming, crop protection, irrigation and insurance cover, tailored to meet specific needs

Top global seed, fertiliser and insurance companies, along with International Finance Corporation of the World Bank, have joined hands to provide holistic and innovative solutions to Indian farmers to boost their yields. The initiatives ofthe group are particularly directed towards the small and marginal cultivator.

The project will provide all-round solutions such as seeds, precision farming, crop protection, irrigation and insurance cover to small and marginal farmers, tailored to meet their specific needs.

The companies include seed major Bayer, world leader in irrigation solutions, Netafim and insurance services provider Swiss Re Corporate Solutions.

In India, this global alliance has also tied up with Yara Fertilizers for input solutions, and Green Agrevolution Pvt Ltd and 'Big Basket' to handle procurement and marketing needs.

Over the last two years, this global alliance of companies, along with its Indian partners, has been conducting pilot projects in Uttar Pradesh and Jharkhand among chilli and tomato farmers.

The consortium not only helps farmers access inputs but also provides them with high-end technological solutions, training on good agricultural practices and market access.

According to an official statement, the alliance has, during the past two years, helped farmers in Uttar Pradesh achieve an average per hectare yield of 15 tonnes of green chillies. This is better than the national yield. The tomato yield, at 20 metric tonnes in Jharkhand, is almost thrice the national average.

According to an official statement, the alliance is working with 1,570 chilli farmers in 121 villages of UP while in Jharkhand 500 farmers in 52 villages have so far benefitted from the project.

The aim of the alliance is to expand it further into more districts.