India is set to introduce the ‘Agri Fund for Startups and Rural Enterprises’ (AgriSURE), aiming to support agripreneurs with equity and debt funding. Announced on Friday, this Rs 750 crore initiative will boost innovation and sustainability in the agriculture sector.
The fund, which is sector-agnostic, will offer investments through debt alternative Investment Funds (AIFs) and direct equity support to startups in agriculture and related fields. This move is part of the government’s broader strategy to enhance the agricultural value chain by targeting high-risk, high-impact activities.
The pre-launch meeting, held at NABARD Headquarters in Mumbai, brought together key stakeholders such as financial institutions, investors, AIF managers, and agri-startups. The event highlighted the collaborative efforts needed to drive growth and development in agriculture through technological innovations.
Officials from the Department of Agriculture and Farmers Welfare and NABARD underscored the importance of creating an ecosystem that supports small and marginal farmers. The AgriSURE fund is expected to play a crucial role in achieving this by providing the necessary financial backing and fostering public and private sector collaboration.
This initiative marks a significant step towards transforming India’s agricultural landscape, promoting innovative approaches that can lead to substantial advancements in the sector.