Rs 750 Crore 'AgriSURE Fund' Launched to Boost Rural Economy and Empower Startups
In a landmark initiative aimed at transforming India's agricultural sector, the government has unveiled the ‘AgriSURE Fund’, a Rs 750 crore investment pool designed to empower farmers and invigorate the rural economy. This strategic move focuses on technology-driven ventures with high impact, aiming to drive growth and foster innovation within the agricultural and rural startup ecosystem.
The ‘AgriSURE Fund’ will be financed through a combination of sources: Rs 250 crore each from the government, NABARD, and contributions from banks, insurance companies, and private investors. According to Agriculture Minister Shivraj Singh Chouhan, this fund continues the government's efforts 'to ensure that every farmer in India has the technological support needed to thrive'.
Chouhan emphasized that the prosperity of farmers is integral to the country’s economic well-being, noting that as farmers improve their fortunes, they will contribute to the economy through increased consumption. He underscored that farming is the backbone of India and farmers are the lifeblood of the nation.
The minister reiterated the government's commitment to supporting the agricultural sector, stating, “Our vision is to empower every farmer, and the launch of the AgriSURE Fund is a testament to our unwavering dedication to the agricultural sector”. The government’s objectives include enhancing production, lowering production costs, ensuring fair prices for farmers, promoting crop diversification, minimizing post-harvest losses, and providing crop insurance.
Additionally, the AgriSURE Greenathon Awards were introduced with a prize pool of Rs 6 lakh to recognize innovative startups developing technology-driven solutions for agricultural challenges. The awards were presented to the top three startups: Greensapio, Krushikanti, and Ambronics, who were chosen from ten finalists.
Devesh Chaturvedi, Secretary of the Ministry of Agriculture and Farmers Welfare, highlighted the critical role of startups in addressing the challenges faced by farmers and solving pressing issues within the agricultural sector.