In a significant initiative to transform the agricultural sector in India, the government has unveiled the ‘AgriSURE Fund,’ a bold project with a capital allocation of ₹750 crore. This government-funded initiative aims to generate investments in technology-driven agricultural startups, ultimately enhancing the rural economy and providing crucial support to farmers across the nation. By establishing the AgriSURE Fund, the government is committed to fostering innovation and improving the overall agricultural landscape, contributing to a more robust rural economy.
The government’s AgriSURE Fund is set to play a pivotal role in reshaping the agricultural economy in India. By providing substantial financial support, the government aims to attract investments that focus on innovative agricultural technologies. This initiative is expected to create a ripple effect within the rural economy, empowering farmers with tools and resources that enhance productivity and sustainability. With the AgriSURE Fund, the government is taking a proactive approach to address the challenges faced by the agricultural sector, ensuring that the economy benefits from modern advancements in farming practices.
Moreover, the government recognizes that a thriving agricultural economy is essential for overall national development. Through the AgriSURE Fund, the government is dedicated to creating a supportive ecosystem for startups that are poised to revolutionize farming methods. By investing in these technology-driven ventures, the government is not only bolstering the rural economy but also promoting job creation and entrepreneurship in the agricultural sector. Ultimately, the AgriSURE initiative underscores the government’s commitment to fostering a resilient and prosperous economy that uplifts the livelihoods of millions of farmers across India.
The ‘AgriSURE Fund’ will be administered through a SEBI Registered Category II Alternative Investment Fund (AIF). It features contributions from several key stakeholders: the government will invest Rs 250 crore, the National Bank for Agriculture and Rural Development (NABARD) will contribute an additional Rs 250 crore, and the remaining Rs 250 crore will be provided by banks, insurance companies, and private investors.
Agriculture Minister Shivraj Singh Chouhan said that the establishment of the ‘AgriSURE Fund’ represents a continuation of the government’s ongoing efforts to provide farmers with the technological resources necessary for success. Minister Chouhan highlighted the critical role of farmers in the nation’s economy, asserting that their prosperity directly influences broader economic growth.
“The prosperity of our farmers is essential for the prosperity of our economy. As farmers enhance their spending power, it stimulates consumption and supports economic activity,” Minister Chouhan remarked. He further added that the government is dedicated to enhancing the agricultural sector by improving production techniques, reducing costs, ensuring fair pricing, promoting crop diversification, and establishing reliable crop insurance mechanisms.
The government also introduced the AgriSURE Greenathon Awards, which come with a prize of Rs 6 lakh. These awards recognize innovative startups developing technology-driven solutions to address challenges within the agricultural value chain, from input selection to marketing and value addition.
The top honors were awarded to Greensapio, Krushikanti, and Ambronics, who emerged as the winner, first runner-up, and second runner-up, respectively, from a total of ten finalists.
Devesh Chaturvedi, Secretary of the Ministry of Agriculture and Farmers Welfare, highlighted the essential role of startups in addressing different issues faced by farmers. “Startups are crucial in providing innovative solutions to the challenges within agriculture, and their role is important in our efforts to support and empower the farming community,” Chaturvedi quoted.
