In a significant move to energize the agriculture sector, the Indian government has launched the Rs 750 crore ($90 million) ‘AgriSure’ fund to support agritech startups. This initiative comes as part of a broader strategy to revitalize the agricultural landscape through innovative solutions and financial backing.
The Union Cabinet has approved a comprehensive package for the agriculture sector, encompassing seven schemes with a total outlay of approximately Rs 14,000 crore ($1.7 billion). Among these, introducing the AgriSure fund and the KrishiNivesh portal stands out. The KrishiNivesh portal is designed to serve a wide range of stakeholders—including farmers, entrepreneurs, and industry professionals—by providing streamlined access to information on various Central and state government schemes.
The AgriSure fund is set to provide equity and debt capital to startups and agripreneurs, fostering innovation and growth in the agritech space. This initiative complements the government’s Rs 1 lakh crore Agriculture Infrastructure Fund, which aims to enhance rural infrastructure and bolster farm-related projects across the country.
Agriculture plays a crucial role in the Indian economy, contributing approximately 18 per cent to the GDP. With the launch of these initiatives, the government aims to increase agricultural production, reduce input costs, ensure better prices for farm produce, and promote crop diversification. Additionally, the emphasis on modern technology and substantial subsidies on fertilizers highlights the commitment to transforming the agricultural sector.
Through these measures, the government seeks to drive sustainable growth and technological advancement in agriculture, paving the way for a more resilient and prosperous future for Indian farmers and agritech innovators.
