IG International & Deccan Exotics announce joint venture for growing avocados

Yesterday, Fresh fruit importer IG International announced a 50:50 joint venture initiative with independently-owned orchard and horticultural research centre Deccan Exotics to establish a plant nursery for growing avocados near Hyderabad. There will be an initial investment of USD 1 million.

The joint venture company, IG Deccan, will be located in and around Hyderabad and will incorporate an investment USD 1 million in the first phase to establish a plant nursery for growing avocados, where the vision will be to generate 5 million trees in the next five years, IG International said in a statement.

The joint venture will handle all the new varieties from the international breeding companies and help with sublicensing for cultivators in India, it added.

Source: devdiscourse.com

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