Reliance: No Plans to Enter Contract Farming

Reliance Industries (RIL) issued a press release stating that they have no plans to enter contract farming and haven’t done so in the past. The statement also addressed recent vandalism of JIO towers.

The statement read:

Reliance said, “has nothing whatsoever to do with the three farm laws currently debated in the country, and in no way benefits from them.”

“Reliance Industries Limited (RIL), through its subsidiary Reliance Jio Infocomm Limited (RJIL), in a petition mentioned to be filed in the Punjab and Haryana High Court today, has sought the urgent intervention of Government authorities to bring a complete stop to the illegal acts of vandalism by miscreants. These acts of violence have endangered the lives of thousands of its employees and caused damage and disruption to the vital communications infrastructure, sales and service outlets run by its subsidiaries in the two states,” according to the official statement by the Company.

“The miscreants indulging in vandalism have been instigated and aided by vested interests and our business rivals. Taking advantage of the ongoing farmers’ agitation near the national capital, these vested interests have launched an incessant, malicious and motivated vilification campaign against Reliance, which has absolutely no basis in truth,” it said.

“Reliance Retail Limited (RRL), Reliance Jio Infocomm Limited (RJIL), or any other affiliate of our parent company, i.e Reliance Industries Limited have not done any “corporate” or “contract” farming in the past, and have absolutely no plans to enter this business,” the Company said.

The Company said neither Reliance nor any of its subsidies, had purchased any agricultural land, directly or indirectly, anywhere in India, for the purpose of “corporate” or “contract” farming. “We have absolutely no plans to do so,” it said.

“It has never entered into long-term procurement contracts to gain unfair advantage over farmers or sought that its suppliers buy from farmers at less than remunerative prices, nor will it ever do so,” it added.

“We shall insist on our suppliers to strictly abide by the Minimum Support Price (MSP) mechanism, and/or any other mechanism for a remunerative price for farm produce, as may be determined and implemented by the government,” RIL said.

“We at Reliance have immense gratitude and the greatest respect for India’s kisans, who are the ‘ANNA DATA’ of 1.3 billion Indians,” the company said. “As customers of their services, we believe in building a strong and equal partnership with Indian farmers on the basis of shared prosperity, inclusive development and an equitable New India.”

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