The Government of Maharashtra, the Rural Enhancers Group, and Nutrifresh Farm Tech India have signed a ₹2,500-crore Memorandum of Understanding (MoU) at the World Economic Forum (WEF) in Davos to promote smart, climate-responsive agriculture in Maharashtra. The project will launch in April 2026, funded through a blended funding structure, involving UAE-based financial institutions, Indian public sector banks, development finance institutions and foreign banks.
Strategic Partner Roles
Rural Enhancers Group will serve as the funding agency and project integrator, while the Government of Maharashtra will provide policy and support. Nutrifresh, founded in 2019, specialises in Controlled Environment Agriculture and plans to expand operations to 2,000 acres by 2028, targeting annual revenues of $250 million.
Nutrifresh Farm Tech India, founded in 2019 in Pune by Ganesh Nikam and Sanket Mehta, offers over 50 products and operates in more than 15 Indian states, as well as serving international markets.
Official Signing Ceremony
The MoU was signed by Ambar Ayade, Managing Director and CEO of Rural Enhancers Group, and Sanket Mehta, CEO of Nutrifresh, in the presence of Chief Minister Devendra Fadnavis.
Ayade said that the initiative would generate significant employment, promote climate-resilient practices, empower women, and increase farmers’ incomes, leading to positive transformation in agriculture.