The poster boy of the microfinance industry, Vikram Akula, founder of SKS Microfinance, is now planning to don a new hat, moving from a microlender to farmer-friendly technologies, including mobile banking.
Continuing his social entrepreneurship, Akula will now devote more time to AgSri, a Hyderabad-based company into farmer-friendly technologies and ecologically sustainable agriculture. AgSri was registered in 2010, focusing on improving the productivity of rice and sugarcane. It is learnt that Akula is an angel investor in AgSri. Akula would also be responsible for raising resources and expanding the market.
In November, Akula quit as executive chairman of SKS Micro and stepped down from the company?s board. Akula continued as consultant to the company till March to assist with the transition.
?Akula has a broader vision and will be moving to the next level,?? said Biksham Gujja, founder and chairman at AgSri, and former policy advisor to WWF International, Geneva. Gujja, who is also Akula?s mentor, has had a 20-year relationship with him. The board of AgSri is also open to increase Akula?s stake if the need arises.
According to Gujja, AgSri has been established with the concept of making ?more with less? possible in agriculture. ?It is possible to improve the productivity of agriculture with fewer inputs,? Gujja said.
There are options for farmers to adapt to simple but integrated methods to improve the productivity, while reducing use of seed, water, fertilisers and pesticides. AgSri is reaching out to farmers in UP, Maharashtra, Orissa and Andhra Pradesh. AgSri team, which has earlier worked under an ICRISAT-WWF project, is reorienting knowledge and training systems to improve the productivity of land, water and labour.
The sugarcane industry in India is in deep crisis in the last 10 years as the production remains stagnant though it supports 45 million farmers.
It suffers from low yields, high input costs, lack of labour, water scarcity, pest and diseases, climate-induced uncertainties and high political stakes. ?The situation warrants specific action and need for catalyst to bring farmers, industry and government. Akula?s association with AgSri will boost such effort,? Gujja added.
