Google NewsIndia is not interested, despite the government of India’s efforts to woo the agribusiness giant over the last few years, a former top government official told Business Standard.
Fox Hollow farm, a sprawling plot of land in the south-eastern part of Uttar Pradesh state, is the biggest in India, and the biggest agricultural land in India.
The farm has a population of 1.2 million people and produces the country’s main staple rice.
India has made huge strides in its development under Prime Minister Narendra Modi, which has seen its population grow from 5.5 million in 2010 to 8.8 million today.
The country has a rapidly expanding middle class and its economy is on the rise.
India also has one of the most developed agriculture production and manufacturing sectors in the world, thanks to the country having a large number of indigenous producers.
India is also the world’s second-largest rice producer, and its production accounts for nearly 40 percent of world rice production.
The government’s efforts in wooing Fox Hollow have included an ambitious plan to set up a state-of-the-art facility for research, development and deployment of biofuels, an initiative which has already received some positive reviews from experts.
Fox will invest at least $40bn in the farm in the next two years, and a portion of the proceeds will be used to build a new research facility at the farm.
The government will also pay Rs 1,500 crore to the Fox family over the next six years, according to the company.
However, the Indian government has also made efforts to curb the use of local fertilizers, which is a common practice in the state.
In January, Prime Minister Modi promised to make fertilizers from indigenous plant species free of subsidy.
However, India’s Ministry of Agriculture has not yet provided any information about the extent of the subsidy, and there are fears that the government may use this information to force the company out of the market.