Indian Overseas Bank (IOB), Amul, and Richplus have joined forces to promote organic farming and support one lakh organic farmers in India. The partnership aims to provide credit and other forms of assistance to farmers, with a focus on those in Tamil Nadu, where organic farming is already gaining traction. As part of the initiative, IOB will launch a co-branded Organic Farming Card, which will offer farmers access to discounted organic inputs, free agronomist support, training opportunities, and high-quality seeds.
The MoU between the three organizations also facilitates NPOP certification for farmers and guarantees buy-back arrangements to ensure fair pricing and market stability. IOB will introduce a dedicated credit scheme, “Harit Kranti”, tailored to the needs of organic farmers. The bank plans to onboard one lakh organic farmers in Tamil Nadu and then scale the initiative nationally.
According to Ajay Kumar Srivastava, Managing Director and CEO of IOB, the partnership will create a comprehensive ecosystem for sustainable growth, providing farmers with access to credit, organic inputs, training, certification, and market access. Amit Vyas, Managing Director of Amul, believes that the collaboration between a dairy cooperative, fertilizer company, and bank will be a game-changer for organic farming. Ashok Sarrangan, Managing Director of Richplus, said that the collective efforts will inspire farmers to innovate for a greener future.
The partners plan to organize a series of organic farming conclaves to scale the initiative, starting with a major FPO meet in Madurai in June, followed by events across Tamil Nadu. The goal is to empower organic farmers and promote sustainable agriculture practices, contributing to a healthier environment and a more sustainable food system. With this initiative, the partners hope to make a significant impact on the organic farming sector and contribute to the vision of a “Viksit Bharat” (developed India). The collaboration is expected to benefit not only the farmers but also the environment and the consumers, who will have access to healthier and more sustainable food options.