Mumbai: Reliance Industries Limited (RIL) said that it has no plans of entering contract or corporate farming and it has not purchased any agricultural land in India for the purpose of contract farming, the company said in a regulatory filing.
Reliance said it "has nothing whatsoever to do with the three farm laws currently debated in the country, and in no way benefits from them."
"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 conglomerate said.
RIL said that it does not purchase food grains directly from farmers and its suppliers buy from farmers only at the Minimum Support Price (MSP) level.
"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."