Jain Irrigation, State Bank to Help Finance Indian Farms

India’s biggest lender, State Bank of India, plans to work with Jain Irrigation Systems Ltd. (JI), the largest irrigation-equipment maker in Asia, to help farmers reduce water usage and increase productivity.

Jain, based in Jalgaon, India, will help the bank identify Indian farmers in need of financing for micro-irrigation systems, State Bank said in an e-mailed statement.

Drip and sprinkler irrigation systems increase the profitability of farms by allowing more land to be irrigated with less water and help boost yields, according to the statement yesterday.

To contact the reporter on this story: Natalie Obiko Pearson in Mumbai at npearson7@bloomberg.net

To contact the editor responsible for this story: Randall Hackley at rhackley@bloomberg.net

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