contract forming

New Delhi: Contract farming: Reliance Industries (RIL) on Monday said that it is not in the business of corporate or contract farming nor does it have any plans to enter this business. Mukesh Ambani-led RIL is the country’s largest company in terms of market-cap.

His statement came at a time when farmers in Punjab and Haryana have been agitating against the three agricultural laws of the government for more than a month. About a week ago, the towers of RIL’s telecom unit Reliance Jio were damaged in Punjab.

RIL has said that it is going to file a petition in the Punjab and Haryana High Court. In this, the court will demand a direction to the government officials to protect its towers from damage.

RIL said, “Reliance Industries has not done any” corporate “or” contract “farming in the past and there are no plans to enter into this business. Reliance or any of our subsidiaries has cultivated” corporate “or” contract ” For the purpose of this, no agricultural land has been purchased directly or indirectly in Punjab or Haryana or anywhere in India. We have no plans to do so. “

Farmers of some states, including Punjab and Haryana, are opposing the three agricultural works passed in Parliament in September 2020. They fear that this will benefit big companies like Reliance Industries and harm to farmers.

RIL also said that it does not buy grain directly from farmers. Reliance Retail, a branch of RIL, also sells food items, fruits and vegetables, among other products. The company said, “She does not buy any grain directly from the farmers. It has not entered into long-term purchase contracts with farmers to gain unfair benefits. “

contract farming

Read this too:

Financial & Business News – CapitalBoat
CapitalBoat provides the latest stock market, financial and business news. Get stock market quotes, personal financial advice, corporate news, Startup stories and latest updates on Economy & Politics, Personal Finance on your Whats app.
Get Breaking News Notifications Via Whats app.
Join our whats app newsletter using this invite link. Click on the link to open chat and send message ‘START’ to join us.

Leave a Reply

Your email address will not be published. Required fields are marked *