The government is poised to launch the ‘Agri Fund for Startups and Rural Enterprises’ (AgriSURE) to support agripreneurs. According to an official statement released on Friday, the fund would make sector-neutral investments, debt alternative Investment Funds (AIFs) and provide direct equity support to start-ups in the agriculture and related industries.
The objective of this effort is to promote sustainability and innovation in India’s agriculture industry by creating a Rs 750 crore Category-II Alternative Investment Fund (AIF), according to the statement. As per the statement, the fund will target high-risk, high-impact operations in the agriculture value chain and will provide both finance and equity support.
At the pre-launch stakeholder meeting on Friday at NABARD Headquarters in Mumbai, the announcement was made. Reportedly, key stakeholders, such as financial institutions, investors, AIF managers and agri-startups, were present at the event.
Ajeet Kumar Sahu, Joint Secretary, Department of Agriculture and Farmers Welfare, spoke at the occasion and focused on how the fund may build an ecosystem that improves finance for the agriculture industry through creative methods, helping marginal and small farmers.
NABARD Chairman Shaji K V discussed the importance of public-private sector cooperation to advance agricultural growth to the next level through technical advances during the event.
(with inputs from PTI)