A Producer Company in India is a corporate entity formed by primary producers, like farmers and artisans, to collectively engage in agricultural activities for enhancing their income and livelihoods. With limited liability and democratic management, they operate under the Companies Act, 2013, pooling resources and sharing benefits, thereby contributing to rural development and economic empowerment.
Producer Company registration in India involves forming a corporate entity under the Companies Act, 2013, with a minimum of ten eligible members, primarily farmers or artisans. Once approved by the Ministry of Corporate Aairs (MCA), the company gains legal status to collectively engage in agricultural activities, contributing to rural economic development and empowering primary producers.
A Producer Company is a type of company formed by producers (such as farmers, artisans, or craftspeople) to collectively carry out activities related to
the production, procurement, marketing, processing, and value addition of goods or services.
A group of ten or more individuals engaged in the production of primary produce or having one or more producer institutions as its member can form a Producer Company.
A producer company can have a minimum of 5 Directors and not more than 15 Directors.
Yes, existing cooperative societies in primary production can transition into Producer Companies under the Companies Act 2013.