Business Economy


HMIF expands ‘Hyundai IONIQ Forest’ agroforestry initiative in AP

Nandyal, AP, May 12 (UNI) Hyundai Motor India Foundation (HMIF), the CSR arm of Hyundai Motor India Limited (HMIL) has empowered 115 Chenchu tribal families in Nandyal district by transitioning them from subsistence farming to sustainable agroforestry through its Hyundai IONIQ Forest initiative.

Launched in October 2022, the initiative has enhanced livelihoods of Chenchu families spread across the villages of Chenchu Lakshmi Gudem, Narapureddy Kunta, Bairlooty and Nagalooty in Nandyal district by integrating sustainable agroforestry, land and water management and capacity building interventions.

Under Phase 1, a total of 250 acres of land has been developed for long-term income generation through horticulture plantations, supported by assured irrigation infrastructure such as bore wells and drip irrigation systems.

This has improved water efficiency, soil fertility and sustained agricultural practices, reducing dependency on forest resources and promoting environmental sustainability. Diversified agroforestry practices including intercropping have enhanced household incomes, generating ₹ 24.56 lakh across four villages during the last two years.

Additionally, the project leveraged Rs 75.53 lakhs from various state government departments including Department of Horticulture, Integrated Tribal Development Agency [ITDA] and schemes like Mahatma Gandhi National Rural Employment Guarantee Scheme [MGNREGS], further strengthening food security and self-reliance within these communities.

The second phase of its Agroforestry initiative – Hyundai IONIQ Forest was launched today to extend environment and sustainable livelihood support to tribal and marginalised families across 20 villages in Nandyal and Kurnool districts.

At the ceremony, Mr.A.G.Nayak, Assistant Project Director, Integrated Tribal Development Agency (ITDA), Ms.K.Chandana, Divisional Horticulture Officer, ITDA and HMIF officials unveiled the project name board and handed over saplings to the beneficiaries. Mr.B.Shivarudrappa, Vice President and Regional Director – South, BAIF NGO was also present during the occasion.

In this second phase, HMIF will support the beneficiaries with land levelling, pit digging, saplings supply, fencing, exposure visits and training in sustainable farming techniques such as intercropping and crop management. Additionally, farmers will receive organic manure, mechanized tilling and ploughing support.

With a total funding of Rs 5.3 Crore, the project will help cultivate 600 acres of land owned by 290 farmers cumulatively, making them self-reliant.

Commenting on the launch of the second phase of Agroforestry ‘Hyundai IONIQ Forest’ project Mr. Gopalakrishnan C S, Trustee, Hyundai Motor India Foundation said, “Hyundai IONIQ Forest is a testament to our commitment to sustainability and community empowerment.
By integrating agroforestry with livelihood support, we aim to support tribal and marginalised families achieve self-reliance. Through such initiatives, we continue to drive sustainable progress and meaningful change, reinforcing Hyundai’s global vision of ‘Progress for Humanity’.”

In 2011, HMIF rolled out a similar project in Tamil Nadu where 500 acres of barren land was revived and restored by planting 18 species of more than 2 lakh trees across 5 districts in Tamil Nadu.

This initiative has improved the livelihood of 346 farmers and sequestered 17833 tonnes of carbon to date. Additionally, Hyundai Motor India Foundation has spearheaded a host of green initiatives; reviving 12.5 acres of barren land in Irungattukottai SIPCOT in Tamil Nadu and providing livelihood to 15 tribal families, restoration of approx. 20 acres of park in Gurugram, donating plants to farmers and the community regularly, and restoring waterbodies of 5.86 acres where tree plantation is an integral component.
UNI DP GNK
More News

Sagarmala hosts stakeholder meet at Cochin Port

18 Jun 2025 | 8:00 PM

Kochi, June 18 (UNI) Sagarmala Finance Corporation Limited (SMFCL), formerly known as Sagarmala Development Company Ltd, conducted an interactive session with key stakeholders of Cochin Port Authority at Willingdon Island on Wednesday.

see more..

UGRO Capital to acquire Profectus Capital

18 Jun 2025 | 5:38 PM

Bengaluru, June 18 (UNI) UGRO Capital Limited, a prominent DataTech NBFC focused on MSME lending, on Wednesday announced the signing of a Share Purchase Agreement to acquire 100 percent equity of Profectus Capital Private Limited, a secured lending-focused NBFC, in an all-cash transaction.

see more..

DIIs anchor Indian markets global volatility: Ashika

18 Jun 2025 | 5:31 PM

Bengaluru, June 18 (UNI) Amid heightened tensions in the Middle East and choppy global markets, Amit Jain, Co-Founder of Ashika Global Family Office Services, has urged investors to remain calm and take a long-term view, highlighting the growing strength of domestic institutional investors (DIIs) in steering the Indian markets.

see more..
Sensex dips by 138 64 points

Sensex dips by 138 64 points

18 Jun 2025 | 4:39 PM

Mumbai, June 18 (UNI) Counting its downward streak for the second straight session, the BSE Sensex on Wednesday declines 138.64 points to close at 81,444.66, tracking negative cues from global peers amid rising geopolitical tensions between Israel and Iran.

see more..

Kottayam-Kochi Rubber Market Rates

18 Jun 2025 | 4:26 PM

Kottayam, June 18 (UNI) Following were the Rubber Market rates announced by the Rubber
Board here on Wednesday per quintal
KOTTAYAM
RSS FOUR: 19900
RSS FIVE : 19600
ISNR TWENTY: 17600
SIXTY PERCENT LATEX: 14265
KOCHI
RSS FOUR : 19900
RSS FIVE : 19600
INTERNATIONAL RATES (BANGKOK)
RSS One : 20379
RSS Two : 20220
RSS Three: 20075
RSS Four : 19995
RSS Five : 19876
KUALALUMPUR
SMR TWENTY : 14757($171.40)
SIXTY PERCENT LATEX : 12107 ($140.60)
UNI PA BM.

see more..