The government is set to launch the 'Agri Fund for Startups and Rural Enterprises' (AgriSURE) to support agripreneurs, according to an official statement released on Friday. The fund will provide both sector-agnostic investments and alternative investment funds (AIFs) in the form of debt, as well as direct equity support for startups in agriculture and related sectors. Aiming to promote innovation and sustainability in India's agricultural sector, the initiative will establish a Rs 750 crore Category-II AIF. This fund will offer both equity and debt support, specifically targeting high-risk, high-impact activities within the agriculture value chain.
The announcement was made during a pre-launch stakeholder meeting at the NABARD Headquarters in Mumbai, attended by key stakeholders, including financial institutions, investors, AIF managers, and agri-startups. Ajeet Kumar Sahu, Joint Secretary of the Department of Agriculture and Farmers Welfare, highlighted the fund's potential to create an ecosystem that enhances agricultural sector financing through innovative approaches, benefiting small and marginal farmers. NABARD Chairman Shaji K V emphasized the need for collaboration between the public and private sectors to drive the next level of growth in agriculture through technological innovations.
Comments