Union Finance Minister Announces 'Millet Challenge' for Startups

Union Finance Minister Nirmala Sitharaman announced the "Millet Challenge" for startups on Saturday, with three winners receiving a seed grant of Rs 1 crore each to design and develop innovative solutions for and across the millets value chain.

She also announced a Rs 25 crore NABARD Rural Infrastructure Development Fund (RIDF) grant to the University of Agricultural Sciences, Raichur, for the establishment of the Millet Value Chain Park, an incubation centre for processing, value addition, and capacity building for millet promotion.

Sitharaman was speaking at the Millet Conclave 2022 in Raichur, which was co-hosted by the Atal Innovation Mission (AIM), the University of Agricultural Sciences, and NABARD. "Within a week or ten days, I will have the NITI Aayog announce a challenge for startups, all focusing on millet, millet-related matters," she said.

Noting that the winner will be announced before December, she stated that the Millet Challenge will award seed grants of Rs 1 crore to three winners, Rs 20 lakh to 15 selected candidates, and Rs 10 lakh to 15 other selected candidates. The Minister also urged large millet processing companies to focus on backward Kalyana Karnataka and to create a brand for this region of the state.

"Kalyana Karnataka, like Kodagu and Araku, means millet. That kind of branding and effective marketing should be practiced. I invite startups to collaborate with the types of companies that can help us brand millets from India and bring them to all countries around the world, especially when we are looking for healthy alternative foods "She stated.

Sitharaman also expressed concern about a report indicating a 60 percent decrease in millet cultivation land, despite the fact that the state offers Rs 10,000 per acre as an incentive to grow millets.

"Seriously, there is a need to make a suggestion as to what the cause is. Is it just the market or is there something else going on? "She stated. Noting that Karnataka is a leading producer of millets, the Finance Minister stated that India is the world's largest producer of millets and its fifth largest exporter.

She cited seven reasons why millet production should be prioritised, including nutritional security, Atmanirbhar Bharat, women participation, scope of value addition, job creation, startup environment, and climate resilience.