Indian agriculture company sets up offices in Singapore, Myanmar

SINGAPORE: An Indian agricultural company has set up offices in Singapore and Myanmar to expand its global trade and links with the Indian market.

Mumbai-based StarAgri Warehousing and Collateral Management Limited has entered Singapore market to expand its warehousing facilities globally and set up an office in Yangon to participate in India-Myanmar agricultural trade.

"We will be using Singapore as our hub in expanding our collateral management and warehousing facilities globally," Jimmy John, President for International Business StarAgri, told PTI today.

The company will initially focus on agri product trade from South East Asia and then move on to global network.

India's leading integrated infrastructure finance player Infrastructure Development Finance Company Ltd (IDFC) and Singapore's investment group are 45 per cent combined stakeholders in the group, which plans to manage at least USD 1 billion global trade a year.

"We have 40 banks in India backing us currently. But we expect more international banks to join our global trade management network," John said.

StarAgri handled Rs 700 crores of domestic trade in India last year, the company said.