ITC, a business conglomerate, is set to launch the 'ITC MAARS' app, which aims to provide farmers with a wide range of agricultural solutions while also creating new revenue streams and providing better markets for advanced agriculture and rural services.
According to the company, the app will benefit approximately 10 million farmers across multiple crop clusters.
In addition, the company is collaborating with farmers to develop robust models for value-added segments such as higher quality and organic chillies, mango pulp traceable to farms, fair-trade specialty coffee, wheat flours, and medicinal and aromatic plant extracts.
"ITC MAARS is a transformative business model, a very creative monetization model built on the foundation of e-Choupal 4.0." e-Choupal is responsible for the physical aspects, such as the demonstration farms, the lead farmers, and the information highway that connects all of the players. "ITC MAARS will improve markets for advanced agriculture and rural services," said Sanjiv Puri at an investor meeting.
"There are about 1,000 or more agri-tech startups in India," Puri added. “MAARS will collaborate with agri-tech start-ups to develop a hyper-local personalized solution for farmers."
"Sanjiv Puri's analyst meeting address on ITC next, sustainability, margin expansion, new growth vectors, and MAARS are yielding results for the company and the stock price right now." The fundamentals and strategies will help the stocks and the firm reach new highs," informed Rahul Sharma, Research Head, Equity 99.
ITC's stock recently reached a 52-week high of Rs 273.15. Experts attribute this increase to the economy's opening up, which has encouraged the recovery of the hospitality and education sectors, as well as opportunities for exports. Since the outbreak of the pandemic, the company has also concentrated on the FMCG, direct-to-consumer, and digitalization sectors.
