Three MBA friends in Bihar are making headlines in the startup circle for building a Rs 2.5 crore business from banana waste. Jagat Kalyan, Satyam Kumar & Nitish Verma, founders of Taruwar Agro Industries, began their journey with just Rs 15 lakh investment in 2021.
In FY26, the company reported Rs 2.5 crore revenue by collecting discarded banana stems and turning them into fibre, yoga mats, baskets, file folders and prayer mats.
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One of the most attractive features of their business is that it relies on a highly sustainable model. While their core products are built from banana stems, any leftover material is also utilised for vermicompost and plant nutrition.
Impact of the Business:
Today, Taruwar Agro Industries does not only support the environment by re-using locally available farm resources, it also supports farmers by integrating them in their model.
According to YourStory platform, their business has resulted in additional income opportunities for farmers. Now, they can earn from banana plants even after harvesting its fruits. Moreover, the company's processing and manufacturing operations have generated employment opportunities for locals, resulting in sustainable livelihoods through innovation.
Taruwar Agro Industries Origin:
The three founders are from different parts of Bihar and they first met while pursuing their MBA. Despite lucrative job opportunities during their studies, the three friends decided to build something in Bihar itself.
“We even had chances to work abroad. But during the COVID-19 pandemic, we started thinking that if we were going to work hard, why not do it for ourselves?...,” Jagat Kalyan, who hails from Khagaria, told YourStory.
Nitish is from Bihar Sharif, while Satyam comes from Darbhanga district. After deciding to build something in Bihar, the three friends undertook months of studies and research before coming up with the idea to utilise banana cultivation.
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With Bihar being a leading banana-producing state, they eventually discovered an opportunity to turn the raw material into something more useful and sustainable.
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