Govt plans to launch Rs 750 Cr fund to promote startups, rural enterprises

The government is poised to launch the 'Agri Fund for Startups and Rural Enterprises' (AgriSURE) to support agripreneurs.

An official statement said that investments through the fund will be sector-agnostic, debt alternative investment funds, and direct equity support to startups working in agriculture and allied sectors.

This initiative aims to foster innovation and sustainability in India's agricultural sector through the establishment of a Rs 750 crore Category-II Alternative Investment Fund (AIF), it said.

The fund will offer equity and debt support, specifically targeting high-risk, high-impact activities in the agriculture value chain.

The announcement was made at the pre-launch stakeholder meet at NABARD Headquarters in Mumbai on Friday.

The event was attended by key stakeholders, including financial institutions, investors, AIF managers, and agritech startups.

Speaking at the event, Ajeet Kumar Sahu, Joint Secretary, Department of Agriculture and Farmers Welfare, emphasised the fund's potential to create an ecosystem that enhances financing for the agriculture sector through innovative approaches, benefiting small and marginal farmers.

During the event, NABARD Chairman Shaji K V spoke on the need for public and private sector collaboration to drive the next level of growth in agriculture through technological innovations.