Mumbai, January 12^th 2026: Coromandel International Limited, one of India’s leading agri-solutions providers, has signed Memorandum of Understanding (MoU) with the Indian Institute of Technology Madras (IITM) for the establishment of a Corporate Research Centre at the IITM Research Park. The announcement was made during the inauguration of the IITM Global Research Foundation, presided over by Dr. S. Jaishankar, Hon’ble Minister of External Affairs, Government of India.

During the ceremony, the MoU copy was formally handed over to Mr. Narayanan Vellayan, Whole-time Director – Strategic Sourcing, Coromandel International Limited, by Dr. Jaishankar, in the presence of Prof. V. Kamakoti, Director, IIT Madras. The event witnessed participation from IIT Madras’ global partners across the USA, UK, Germany, Malaysia, UAE, and Singapore, underscoring the institute’s expanding international research footprint.

The partnership will enable Coromandel to leverage the world-class research, innovation, and technology infrastructure of the IIT Madras ecosystem in India and abroad, fostering advanced collaboration in areas of strategic importance to agriculture, sustainability and emerging technologies.

Speaking on the partnership, Mr. Narayanan Vellayan, Whole-time Director – Strategic Sourcing, Coromandel International Limited, said: “Coromandel has always believed that innovation and research are critical to strengthening India’s agricultural ecosystem and driving sustainable growth. Our collaboration with IIT Madras Global will enable us to work closely with leading researchers, scientists, and global partners to develop breakthrough solutions in crop nutrition and advanced agri-inputs. The Corporate Research Centre will serve as a strategic platform to translate cutting-edge science into scalable technologies that benefit farmers, industry, and the nation’s innovation agenda.”

Highlighting the significance of the collaboration, Mr. T. Madhav Narayan, CEO, IITM Global, said that the MoU with Coromandel represents a powerful step toward deep industry–academia engagement, accelerating translational research and innovation with real-world impact.

The Corporate Research Centre will act as a hub for joint research programs, technology incubation, talent development, and international collaboration, supporting Coromandel’s long-term focus on science-led growth and future-ready agri-solutions.

Industry leaders such as Shri Vipul Shah, Shri Kirit Bhansali, Vice Chairman, GJEPC; Shri Anoop Mehta, President, Bharat Diamond Bourse, and Shri Mehul Shah, Vice President, Bharat Diamond Bourse, addressed the pressing concerns, including the shrinking American market, fluctuating global demand, and intensifying competition. Members also highlighted the need for diversification and increased government support to stabilise and grow exports.

Vipul Shah expressed gratitude to Dr. Jaishankar, stating, “We are grateful for your active support in mitigating the impacts of G7 sanctions on Russian diamonds, which has enabled our industry to continue operating with resilience and adaptability.”

Vipul Shah further added, “In these testing times, we look toward the Ministry of External Affairs for strategic support and urge your good offices and missions abroad to champion Indian gems and jewellery, ensuring that our exquisite craft finds a place in every corner of the globe. With your support, we can strengthen India’s global footprint, enhance our market access, and uplift the industry at this crucial juncture.”

Dr. Jaishankar emphasised the importance of industry-government collaboration, encouraging businesses to directly engage with international counterparts. He acknowledged the diamond industry’s technological advancements and reaffirmed the government’s commitment to driving export-oriented growth. He also highlighted about G7 sanctions on diamonds and its implications for the diamond and jewellery industry. He stated that Indian Govt is seized with the fact on falling exports from India and are discussing on having a strategic policy of shift the narrative in favour of India in some very difficult times for the world economy.

विदेश मंत्री ने कहा- ‘विदेश मंत्रालय का नेतृत्व करने की ज़िम्मेदारी फिर से मिलना बहुत सम्मान की बात’

डॉ. एस जयशंकर ने यह भी कहा कि “विदेश मंत्रालय का नेतृत्व करने की जिम्मेदारी एक बार फिर से मिलना मेरे लिए बहुत सम्मान की बात है। पिछले कार्यकाल में इस मंत्रालय ने असाधारण प्रदर्शन किया।