Calcutta, Dec. 7: Hyderabad-based Nandan Agro Farms Pvt Ltd has forged a strategic alliance with Spearhead Sarl of Switzerland to float a 50:50 joint venture to tap the lucrative $60 billion per annum global market for medicinal plants.
The joint venture — Spearhead Natural Products Ltd — will carry on the herbal products business in India and abroad. In the first phase, the company will begin marketing an herbal drink and a capsule from January.
Spearhead, which has an annual turnover of 50 million Swiss Francs, is engaged in trading, manufacturing and marketing of natural food products and cosmetics. The company has manufacturing facilities in Switzerland and the United Arab Emirates and a distribution network across 70 countries.
Nandan Agro Farms has integrated research and development, scientific commercial cultivation and marketing of medicinal and aromatic plants.