Israel firm to start operations in India with Hyderabad base
Israel-based Makhteshim-Agan, which deals in crop protection products, will commence activities in India with a base in Hyderabad.india Updated: Jul 12, 2009 19:35 IST
Israel-based Makhteshim-Agan, which deals in crop protection products, will commence activities in India with a base in Hyderabad.
The company has selected Andhra Pradesh as its operating hub and a high-profile team will meet Chief Minister Y S Rajasekhara Reddy on Monday in this regard, the Chief Minister's Office said in a release on Sunday.
The company is contemplating to invest Rs 450 crore in the coming years, generating direct and indirect employment for over 2,000 people, it said.
Headquartered in Tel Aviv, the company is number one in the world in off-patent products with a business turnover of $2.5 billion in 2008, the release claimed.
"The company wants the Indian farmers to get the maximum benefit of the largest variety of crop protection products available in the global market place. It endeavours to cut several tiers in the supply chain of the product line to make the farmer the biggest beneficiary," it said.
The company has already recruited 300 professionals from various fields. For this purpose, it has established a wide retail customer base and warehouse network, it said.
The visiting Israeli team, which will meet Reddy, includes Ambassador of Israel Mark Sofer and Makhteshim-Agan Group Chairman Avraham Bigger, the release said.