Shivraj Singh Chouhan Launches Rs 750 Crore AgriSURE Fund to Empower Start-Ups and Farmers

Union Minister for Agriculture and Farmers’ Welfare, Shivraj Singh Chouhan, today, September 3, 2024, launched the AgriSURE Scheme in New Delhi, marking a significant development for India's agricultural sector. The AgriSURE - Agri Fund for Start-ups & Rural Enterprises is an innovative venture designed to transform the agricultural sector by supporting high-risk, high-impact projects driven by cutting-edge technology. This pioneering fund, amounting to Rs 750 crore, is a blended capital initiative backed by significant contributions from the Government of India, NABARD, and private investors, each contributing Rs 250 crore.

The launch event saw the presence of esteemed guests, including Union Ministers of State for Agriculture and Farmers’ Welfare, Bhagirath Choudhary and Ram Nath Thakur, along with Dr. Devesh Chaturvedi, Secretary of the Ministry of Agriculture and Farmers Welfare. The event was also attended by senior officials from the Ministry of Agriculture, representatives from leading banks, state government officials, and key stakeholders from the agricultural community.

In his keynote speech, Minister Shivraj Singh Chouhan highlighted the transformative potential of the AgriSURE Fund, highlighting it as a continuation of the government’s ongoing efforts to provide technological support to every farmer in India. "Farmers’ prosperity will lead to a prosperous economy," he noted, underlining the crucial role that agriculture plays in the nation's economic health. He further articulated the government’s commitment to empowering farmers by ensuring increased production, reducing production costs, offering remunerative prices, promoting crop diversification, and providing protection through crop insurance.

The event also featured the AgriSURE Greenathon Awards, recognizing the most innovative start-ups developing technology-centric solutions to address challenges across the agri-value chain. Launched in Mumbai on July 12, 2024, Greenathon culminated in a grand finale where 10 finalists pitched their ideas. From over 2000 budding Agri Start-ups, the top three—Greensapio, Krushikanti, and Ambronics—were honored as the Winner, Runner-Up, and Second Runner-Up, respectively, with a prize pool of Rs 6 lakhs.

Dr. Devesh Chaturvedi, Secretary of the Ministry, highlighted the critical role of start-ups in solving the problems faced by farmers. The event marked a significant convergence of various stakeholders, including state government representatives, banks, investors, and start-ups, all witnessing the launch of AgriSURE—a first-of-its-kind product in the Indian agricultural start-up ecosystem.

With the introduction of the AgriSURE fund, the government aims to catalyze investments in the agricultural sector, empowering farmers and boosting the rural economy by accelerating the development of accessible and affordable innovative solutions.