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Unlock the transformative potential of your initiatives with GHR Advisory’s registration for Producer Companies
A Producer Company is formally established with the primary goal of improving the livelihoods of farmers and agriculturists. Governed by the Companies Act 1956, the registration of a Producer Company in India requires a minimum of 10 individuals, or 2 institutions, or a combination of both, with specific business objectives related to production, procurement, harvesting, marketing, grading, handling, pooling, selling, and export.
With approximately 60% of India’s population relying on agriculture, the industry serves as the backbone of the nation’s economy. However, the plight of farmers and primary producers, particularly small-scale and marginal farmers, often involves struggles for profitability due to poor facilities and low production. Recognizing this issue, the Government of India, under the guidance of the Y.K. Alagh-led expert committee, introduced the concept of Producer Companies in 2002. The primary objective was to collectively uplift Indian farmers and agriculturalists.
According to Section 581C of the Companies Act, 1956, a Producer Company is classified as a Public Limited Company.
No, as per the regulations, a foreign national cannot be appointed as a director in a Producer Company.
Besides the registration fee, there might be additional charges, such as stamp duty, professional fees, and government fees. Our experts can guide you on the complete cost structure.
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