In a transformative step for India’s agricultural landscape, Union Agriculture Minister Shivraj Singh Chouhan has unveiled the Rs 750-crore ‘AgriSure’ fund. This bold initiative is designed to provide essential financial backing to agritech startups and rural enterprises, highlighting the government’s dedication to enhancing agricultural investments.
This new fund is a key component of a broader effort to revitalise the agricultural sector through substantial financial commitments and strategic initiatives aimed at fostering innovation and growth.
Empowering agritech startups with financial support
The AgriSure fund, officially named Agri Fund for Startups & Rural Enterprises, is intended to offer both equity and debt financing to agripreneurs. This financial support is expected to drive advancements in agritech, enabling startups to expand and make a significant impact on agricultural practices. During the launch, Chouhan underscored the critical role startups play in advancing agricultural methods and driving innovation.
The AgriSure fund aims to alleviate financial constraints for agritech startups, encouraging their growth and attracting further private investment into the sector. The focus is on boosting both public and private investment to enhance productivity and add value across agriculture.
Strategic investments for agricultural advancement
The introduction of the AgriSure fund is part of a comprehensive strategy to strengthen India’s agricultural sector. Just a day before the fund’s launch, the Union Cabinet approved seven new schemes with a total outlay of nearly Rs 14,000 crore. This significant investment underscores the government’s commitment to reforming agriculture and supporting farmers nationwide.
New digital platform for agricultural investment
Alongside the AgriSure fund, Chouhan introduced the KrishiNivesh Portal, an integrated digital platform aimed at centralising investment opportunities and agricultural information. The portal is designed to enhance agribusinesses by simplifying access to various government schemes, ultimately improving farmers’ incomes and fostering investment.
The KrishiNivesh Portal is expected to revolutionise agricultural investment by offering a transparent and comprehensive platform for farmers, entrepreneurs, and industry stakeholders to engage with government initiatives. This marks a significant advancement towards modernising agricultural investment and creating a more efficient system.
Government’s commitment to agricultural development
Chouhan reiterated the government’s ongoing efforts to advance the agricultural sector, including:
- Rs 1 lakh crore Agriculture Infrastructure Fund: Targeting the development of essential infrastructure in rural areas.
- Boosting production and reducing input costs: Aiming to improve farm produce prices and promote crop diversification.
- Incorporation of modern technology: Enhancing productivity through advanced techniques.
- Fertiliser subsidies: Providing financial support to farmers.
Additionally, Chouhan emphasised the importance of innovative agricultural approaches, such as promoting collective farming among smallholders and addressing challenges related to the excessive use of chemicals. Protecting soil health and adopting sustainable practices are also key priorities.
Recognising excellence in agricultural infrastructure
During the event, Chouhan presented the AIF Excellence Awards to acknowledge outstanding contributions among banks and states. The awards highlighted:
- Top public sector banks: State Bank of India, Canara Bank, Bank of Baroda, Indian Bank, and Punjab National Bank.
- Leading private sector bank: HDFC Bank.
- Exceptional regional rural banks: Baroda Rajasthan Kshetriya Grameen Bank, Punjab Grameen Bank, Baroda UP Grameen Bank, Maharashtra Grameen Bank, and Sarva Haryana Grameen Bank.
- Best-performing states: Madhya Pradesh, Punjab, Uttar Pradesh, Maharashtra, Karnataka, Gujarat, and Telangana.
These awards celebrated the significant contributions of various institutions in enhancing agricultural infrastructure and supporting rural development.
A new era for Indian agriculture
The launch of the AgriSure fund and the KrishiNivesh Portal signifies a transformative moment for Indian agriculture. By focusing on supporting agritech startups and enhancing investment opportunities, the government is laying a solid foundation for a more innovative and resilient agricultural sector. As these initiatives unfold, they are poised to drive substantial improvements, support farmers, and contribute to the modernisation of agriculture in India.
