“KRIBHCO has been in the forefront in catalysing agricultural and rural development by selecting, financing and managing socially desirable and commercially feasible ventures and initiatives. This joint venture will result in providing each and every product/service in rural India on a par with urban India,” said B.D. Sinha, Managing Director of KRIBHCO.
The company would create a distribution model through its network of over 25,000 cooperatives, 6,300 member cooperatives and 60 Krishi Seva Kendras.The company would emerge as one of the most significant milestones in enhancing the rural tele density in the country, said S.P. Shukla, president – Wireless, Reliance Communications. “Over and above the state-of-the-art and most-affordable range of GSM and CDMA services, Reliance Communications would soon be unveiling a wide range of products and value added services customised for the rural markets,” he added.
KRIBHCO would hold 60 per cent equity in the company with the balance 40 per cent held by Reliance ADAG.