Union Minister Shivraj Singh Chouhan on Tuesday launched the AgriSURE Fund and Krishi Nivesh Portal in New Delhi.
The AgriSURE Fund aims to support those start ups that works towards the development in agriculture-boosting ideas and plans. Through this, the government wants to bring a boost to the agriculture sector.
“Under the leadership of Prime Minister Modi, we have helped launch many start-ups to help bring about a positive change in the agriculture sector,” Chouhan noted in his speech during the inauguration of the fund.
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Shedding light on the problems and financial strains that young start-ups and agripreneurs face, Chouhan revealed that the government would help fund start ups that work towards developing agriculture friendly ideas. “There are many brilliant ideas and start ups that are working to enhance India’s agriculture sector, however, they often lack monetary support. We are here to finance these ideas, because they would help give a boost and push to India’s farmers and the agriculture sector,” Chauhan said.
Further, the Union Minister for Agriculture and Farmers’ Welfare and Rural Development said that the government has so far spent Rs 7,000 on start-ups under the AgriSURE program.
“We have helped 8000 start-ups under agriculture-linked programs. With schemes such as this one, we will continue helping any and every idea that brings a positive impact in India’s agricultural landscape,” Chouhan stated.
‘AgriSURE: PM Modi’s brainchild’
Chouhan credited the idea of AgriSURE to Prime Minister Narendra Modi, stating that under the central leadership, this idea was born during covid and helped save the Indian economy during the covid-induced lockdown.
“Agri infra fund was announced during the covid pandemic by PM Modi. During the lockdown, businesses across sectors were shutting, daily wage workers were forced to return back home as factories shut down. But one sector helped keep the momentum stable for the Indian economy, the agriculture sector. Farming helped not only sustain the economy, but also revived it. Remember, while all sectors were going through a slump udring covid, it was agriculture that maintained a growth of 4.6 per cent,” Chouhan explained.
The AgriSURE funds scheme is a way forward for India to achieve its dream of a Viksit Bharat, according to Union Minister Chouhan. He asserted that for India to achieve the dream of becoming a developed nation by 2050, agriculture needs to be developed first. Moreover, he claimed that the government has made investments worth Rs 78,000 crore in agriculture-based start-ups.
“Bankers would play an important role in roling out these agri-schemes to young start-ups. They will play an important role here,” Chouhand added.
Agri Fund for Start-Ups & Rural Enterprise: All you need to know
- The ‘Agri Fund for Start-Ups & Rural Enterprises’ (AgriSURE) is a new initiative designed to boost innovation and sustainability in India’s agriculture sector.
- The fund will be established as a Rs 750 crore Category-II Alternative Investment Fund (AIF), offering both equity and debt support.
- It aims to target high-risk, high-impact activities across the agriculture value chain.
- The fund will be launched with an initial corpus of ₹750 Crore.
- Contributions include ₹250 Crores each from NABARD and the Ministry of Agriculture, and ₹250 Crores from other institutions.
- The fund will focus on supporting start-ups and agripreneurs, enhancing farm produce value chains, creating rural infrastructure, and supporting Farmers Producer Organizations (FPOs).
- The fund would help foster innovation in agriculture, enhance the value chain of farm produce, create and improve rural infrastructure generate employment opportunities and support and develop IT-based solutions and machinery rental services for farmers.
