The Indian government is set to launch the 'Agri Fund for Startups and Rural Enterprises' (AgriSURE) to support agripreneurs. This initiative, aimed at fostering innovation and sustainability in India's agricultural sector, will involve a Rs 750 crore Category-II Alternative Investment Fund (AIF).

 

Key Details

  • Fund Characteristics:
    • The AgriSURE fund will be sector-agnostic.
    • It will provide both debt alternative investment funds (AIFs) and direct equity support to startups in agriculture and allied sectors.
    • The fund targets high-risk, high-impact activities in the agriculture value chain, offering both equity and debt support.

 

Launch Event

  • Pre-Launch Meeting:

    • The announcement was made at the pre-launch stakeholder meeting held at NABARD Headquarters in Mumbai.
    • Attendees included key stakeholders such as financial institutions, investors, AIF managers, and agri-startups.

  • Speakers and Highlights:

    • Ajeet Kumar Sahu, Joint Secretary, Department of Agriculture and Farmers Welfare:
      • Emphasized the fund’s potential to enhance financing for the agriculture sector through innovative approaches, benefiting small and marginal farmers.
    • Shaji K V, NABARD Chairman:
      • Highlighted the need for public and private sector collaboration to drive growth in agriculture through technological innovations.

 

Objectives and Impact

  • Innovation and Sustainability:

    • The fund aims to support agripreneurs by fostering innovation and sustainability in the agricultural sector.
    • It is designed to create an ecosystem that enhances financing for agriculture, promoting technological advancements and efficiency.

  • Target Audience:

    • Small and marginal farmers, startups, and enterprises working in agriculture and allied sectors are the primary beneficiaries.
    • The initiative is expected to drive significant growth and development within the agricultural value chain.

 

Conclusion

The AgriSURE fund represents a significant step towards promoting innovation and sustainability in India's agricultural sector. By providing financial support through both equity and debt, the fund aims to drive high-impact activities and create a robust ecosystem for agripreneurs and small farmers.