Godrej Group to Invest INR 300 Cr in Telangana
Khammam, Telangana, is set to witness a substantial transformation as the Godrej Group pledges an INR 300 crore investment that promises to support 50,000 farmers and create 2,000 job opportunities.
In a groundbreaking ceremony for Godrej Agrovet, KT Rama Rao, Minister for IT, Industries, Municipal Administration, and Urban Development, Govt of Telangana, highlighted this significant partnership. Godrej’s commitment extends beyond financial investment. They are establishing India’s inaugural private oil palm seed garden to cultivate seed varieties suited to the local climate.
Additionally, a nursery with a capacity to nurture 5 lakh saplings will be established. The Telangana Government is contributing to this endeavor by offering a subsidy of INR 50,000 per acre to farmers cultivating oil palm. Abundant water resources have boosted productivity across all crops, including oilseeds.
The Godrej initiative aims to uplift the economic status of approximately 5 lakh farmers and generate employment for 2.3 lakh individuals, potentially making Telangana the leading oil palm producer in India in the near future.