Delhi-based Select Group, which has a presence in retail and hospitality businesses, plans to enter hydroponic and organic farming. It has joined hands with Symbiotic Sciences to form a company, Vardan Agrotech.
Vardan Agrotech recently inked an MoU with the Rajasthan government to invest ₹50 crore to set up greenhouse farms in the Tijara region of Alwar.
Tech integration
Arjun Sharma, Chairman, Select Group, said: “ Currently the venture is in its trial stage. We have put together a team of scientists for perfecting the farming techniques. We think it will take us about two years for a commercial launch.”
The company is currently experimenting with growing vegetables and herbs at a pilot farm, which will be scaled up for commercial launch, gradually. “We think there is a massive potential for fresh, affordable and chemical-free vegetables and fruits. We will look at B2B and B2C distribution, besides exports. What’s most exciting is the potential to directly sell to customers through a subscription model or e-commerce,” Sharma added.
Select Group is the co-promoter of Select CityWalk, an upscale South Delhi mall.
Replying to a query on impact of e-commerce on footfalls at malls, he said: “India is still under-penetrated and under-serviced as far as the organised retail space is concerned. I believe there is room for both models to co-exist and grow, as one can already see the conversion of online and offline models. Offline players are adopting the omni-channel strategy while online players are opening offline stores.”
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