Rallis India, a subsidiary of Tata Chemicals, is planning to enhance manufacturing capacities as well as build a new integrated research development centre, and is in the process of launching new products, its chairman Bhaskar Bhat said on Thursday.
"The world continues to face the greatest threat to life and livelihood due to the COVID-19 pandemic that has impacted the global economy and all of its citizens...I am proud to say that your company has shown great resilience in this challenging time to ensure personal safety and at the same time, running the operations with limited interruptions, which led to a sustained performance during the year," Bhat said while virtually addressing shareholders at the 73rd annual general meeting.
He said agricultural activities as well as a majority of those directly engaged in agriculture other than migrant labour had a limited negative impact due to the pandemic during the first wave.
The government took important steps to boost the agricultural sector by bringing in some key reforms that are expected to make the agricultural sector more organised and will attract the necessary technological interventions to improve productivity and quality of agricultural produce in the long run, he noted.
"During the year, weather conditions were largely favourable and this was reflected in a record production of 305.43 million tonnes of foodgrain, as per the third advance estimates," Bhat said.
Rallis is embarking on a journey of transformation with several initiatives such as enhancing manufacturing capacities, building a new integrated R&D centre, launching new products, enhancing brand visibility and leveraging digital media along with introduction of various relevant applications to support business processes, Bhat added.