Good News For Agripreneurs: Government To Launch AgriSURE Fund Soon
Updated: 28-01-2025 at 6:27 AM
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Agriculture is one of the main activities in India. India is a leading exporter of agricultural goods and a large consumer as well. With the advancement of time and technology, the inclusion of technology in agricultural methods has been widely promoted.
However, due to lack of finances and knowledge about the procurement and utilisation of such technology and methods, the implementation of such smart agricultural techniques has been relatively low. To boost the agricultural sector and to create ‘agripreneurs’ or entrepreneurs in the agricultural sector, the government will soon launch the ‘AgriSURE’ fund. Let us find out about the details of this government scheme.
What Is The AgriSURE Fund?
The government is launching an agriculture scheme which aims to support agritech startups and agripreneurs called the 'Agri Fund for StartUps & Rural Enterprises' (AgriSURE Fund). The fund has been created by the National Bank for Agricultural and Rural Development (NABARD), in a partnership with the Ministry of Agriculture and Rural Development (MoARD).
Presently, the fund has been created for Rs. 750 crores, with each of the initiating parties, NABARD and MoARD, contributing Rs. 250 crores each. The rest of the amount shall be raised with the help of financial and banking institutions.
Equity and debt investments will be made in the agricultural sector, making it full of innovations and sustainable in nature through this agriculture scheme. The fund aims to provide financial assistance to approximately 85 agritech startups and help them in stabilising and expanding their businesses.
The agricultural fund will be operated and managed by NABVENTURES, which is a full owned subsidiary of NABARD. An investment up to 25 crores will be made in such ventures to facilitate high risk and high impact activities in the agricultural sector under this government scheme.
What Are The Objectives And Benefits Of AgriSURE Fund?
This agriculture scheme is being started with the aim of making India a leader in ‘smart’ agriculture. The AgriSURE fund offers multiple benefits to the startups assisted by it. Let us have a glance at them:
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Value-Chain Bolster: The farming value-chain is supported by the financial assistance provided by this government scheme. Direct investments, debt-equity funds and Alternative Instrument Funds (AIF) are helping in achieving the motives of AgriSURE.
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Promotion of Innovation: The main objective of this govt scheme is the promotion of innovative techniques and inputs in farming. With the creation of new linkages and infrastructure in the value chain, AgriSURE is helping ‘agripreneurs’ grow their startups to heights.
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Employment Generation: With support to startups, boost is also being provided to employment generation. Working startups also require manpower, hence generating income sources and jobs.
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Modernisation: Adoption of IT-based solutions and machinery is fostered through this scheme. Employing modern solutions and techniques is also helping develop and modernise the farming process.
Along with the AgriSURE fund, NABARD has also initiated ‘Greenathon’ 2024 which addresses crucial issues faced by the farming sector in the present world. Let us find out more about this.
What Is The ‘Greenathon 2024’ Started By NABARD?
The Greenathon 2024 is a hackathon wherein three major issues related to agriculture are being addressed and dealt with. Let us have a look at the three major issues put forth:
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Smart Agriculture on a Budget: Since implements and new technology is costly and not all farmers can afford it, smart management of finances related to farming and agriculture is taught through capacity building programmes and workshops.
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Turning Agri-Waste into Profitable Business Opportunities: Agricultural waste has been posing threats to the environment and waste management. Stubble burning has emerged as a major issue causing pollution due to this. Greenathon 2024 aims to combat these issues by spreading awareness and teaching farmers techniques that can help them generate money.
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Tech Solutions Making Regenerative Agriculture Remunerative: Financial barriers often act as hindrances. This government scheme aims to facilitate economically feasible regenerative agricultural activities.
Conclusion
Agriculture is one of the booming economies of India with a significant contribution of 18.3% to the GDP of India. In such a scenario, it is essential to promote agriculture along with modernised and financially assisted methods. The AgriSURE scheme seeks to achieve these.
For more information, queries or grievances, call NABARD at 91 022-26539895 or fill the query/grievance form here.
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