Indias Hectar Global expands business to Bangladesh

Chennai-based B2B cross-border agri-trade startup Hectar Global on Tuesday announced its expansion to Bangladesh market with some $1 million initial investment.

The company has set up a headquarters office in Dhaka and a pulses processing facility in Faridpur, around 100 kilometres south from the capital of Bangladesh.

The move is in line with its global expansion strategy, which is to set up direct operations in key origination or destination markets to enable seamless trade of agri commodities, the company said in a statement.
The focus will be on catering to the market demand in two categories - spices and pulses, including products such as dry red chilies, turmeric, red lentils, chickpeas and yellow peas.

"As a nation, Bangladesh relies heavily on food imports, purchasing more than $15 billion in agricultural commodities every year. In this vibrant import market, we are eager to introduce our services and platform, which will enable local food businesses and manufacturers to source their raw materials directly from global vendors," the statement quoted Hectar Global CEO Srinath Srinivasan as saying.