The Government of Maharashtra has entered into a significant agriculture-focused partnership by signing a Memorandum of Understanding valued at approximately Rs 2,500 crore with Rural Enhancers Group and Nutrifresh Farm Tech. The agreement was formalised during the ongoing World Economic Forum in Davos, marking one of the early agriculture-centric MoUs signed by the state at the global gathering.
The signing took place in the presence of Maharashtra Chief Minister Devendra Fadnavis, underlining the state government’s emphasis on attracting large-scale investments into modern and sustainable agricultural initiatives.
Leadership-Driven Collaboration
The MoU was executed by Ambar Ayade, Managing Director and Chief Executive Officer of Rural Enhancers Group, and Sanket Mehta, Chief Executive Officer of Nutrifresh Farm Tech. The partnership brings together government support, private sector expertise, and structured financing to strengthen Maharashtra’s agricultural ecosystem.
The agreement outlines a collaborative framework where each stakeholder plays a defined role to ensure effective execution and long-term impact across the state’s rural and farming communities.
Focus on Climate-Smart and Tech-Enabled Farming
At the core of the MoU is a commitment to climate-smart and technology-driven agriculture. The project aims to introduce advanced agricultural practices that improve productivity while addressing challenges related to climate variability, resource efficiency, and supply chain optimisation.
The initiative is scheduled to go live from April 2026 and will be powered by Nutrifresh’s technological capabilities. The approach is expected to integrate modern farming solutions with data-driven decision-making to enhance farm-level outcomes across participating regions.
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Nutrifresh’s Growth and Technology Vision
Founded in 2019 by Ganesh Nikam and Sanket Mehta, Nutrifresh Farm Tech has built its operations around Artificial Intelligence and Internet of Things-based technologies to manage and deliver agricultural produce efficiently. The company currently offers more than 50 agricultural products and operates across over 15 Indian states, along with select international markets.
As part of its long-term expansion strategy, Nutrifresh plans to scale its operations to 2,000 acres by 2028. The company is also targeting annual revenue of $250 million, reflecting its ambitions to become a major player in technology-enabled agriculture and agri-supply chains.
Defined Roles for Seamless Execution
Under the terms of the agreement, Rural Enhancers Group will serve as the funding agency and overall project integrator. The group will coordinate financial structuring, project management, and stakeholder alignment to ensure smooth implementation.
The Government of Maharashtra will provide policy-level, institutional, and implementation support. This includes facilitating approvals, aligning the project with state agricultural priorities, and supporting on-ground execution through relevant departments and agencies.
Blended Financing Structure in Place
The project will be financed through a blended funding model designed to diversify risk and ensure long-term financial sustainability. Funding sources will include UAE-based financial institutions, Indian public sector banks, development finance institutions, and foreign banks.
This structured approach to financing is intended to support large-scale deployment while maintaining stability throughout different phases of the project lifecycle.
Expected Impact on Rural Economy
Commenting on the agreement, Ambar Ayade stated that the initiative is expected to generate employment opportunities and promote climate-resilient agricultural practices across Maharashtra. The project also aims to encourage agri-tourism, strengthen women’s participation in agriculture-related activities, and contribute to improving farmers’ incomes.
By combining technology, investment, and institutional support, the partnership seeks to create a sustainable agricultural model that delivers economic and social benefits while aligning with the state’s long-term development goals.
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