Budget 2023: Agriculture accelerator fund to increase productivity

Utkarsh Sinha managing director Bexley advisors a boutique funding financial institution agency mentioned “The authorities’s Fund-of-Fund (FoF) technique has already demonstrated success with SIDBI’s flagship fund, in addition to SRI. Expanding this mannequin in new industries, like agriculture (and hopefully manufacturing) will yield constructive outcomes and speed up the formation of agri-focused funds and ventures.”

“Private Equity for Agriculture sector funding in India is a two-part equation; whereas we want smaller funds that may seed progressive applied sciences like hydroponics, vertical farming and so forth., we equally want funds able to writing giant checks that may take a few of these applied sciences to scale. Growth and Kate stage fairness capital in agriculture is lacking, and this FoF might present some impetus for that,” mentioned Utkarsh Sinha.

Kanishk Maheshwari, Co-Founder, Primus Partners mentioned “Agriculture Accelerator Fund is a superb initiative in the direction of mainstreaming Rural economic system and scaling innovation from hinterlands of India. Learning ought to be drawn from implementation expertise of varied startup funds created earlier by the Government.”

Nilaya Varma, Co-Founder and CEO, Primus Partners mentioned “Announcement for bringing expertise into Agriculture is essential for long run financial progress, improved productivity and job creation. This ensures India and Bharat develop collectively. The finances goal is welcome. However, implementation is essential and for this plan to achieve success, we want to make certain partnerships between farmers, FPO, SHG, Agri startup and most significantly Agri analysis institutes and universities are ensured.”

Adarsh Sharma, Managing Director, Primus Partners mentioned “The capital funding outlay increase by 33%, provides the fitting nudge to the business ask, and exhibits governments sturdy resolve to enhance personal investments within the nation’s infrastructure improvement narrative.”

Dhruv Sawhney, COO and Business Head, nurture.farm mentioned “This is a constructive and welcome transfer from the federal government, which is able to foster, encourage and allow entrepreneurship within the agri subject. It will lead to the event of latest enterprise fashions and improvements that may drive digital adoption and likewise convey technological help and development for farmers in India.”

SOUMYAK BISWAS, Partner – Management Consulting, BDO India mentioned “The Agriculture Accelerator Fund is a welcome transfer for the agricultural sector. It will act as a catalyst to spur progress within the agriculture tech ecosystem and handle just a few essential challenges throughout the worth chain relating to input-output linkages, precision farming, making certain traceability and high quality of manufacturing, larger worth addition, amongst others. This is just not solely going to promote entrepreneurship and job creation on this sector but in addition unlock worth within the agribusiness worth chain which in flip will enhance profitability for the farmers and is a proper step in the direction of reaching the imaginative and prescient of doubling farmers’ earnings.”

Sanjay Chhabria, Director Nexdigm mentioned “Agriculture Accelerator fund to be arrange to encourage Agri-startups by younger entrepreneurs! Agricultural credit score goal might be elevated by 20 lakh crores. Steps to enhance extra jobs, concepts and entrepreneurs to usher in additional progress within the agricultural sector.”

Anirudh A Damani, Artha Venture Fund – Managing Partner mentioned “Learning concerning the authorities’s intent to arrange an Agriculture Accelerator Fund is thrilling. I look ahead to additional particulars on how the fund can be operated. Such a fund can present a supportive atmosphere that may assist AgriTech startups develop sooner by offering them with sources, publicity, and alternatives to succeed. Through this effort, the federal government may give these startups extra help starting from seed funding and mentorship packages to infrastructure subsidies and applicable market entry. This total train will bolster this authorities’s pre-existing efforts to promote the entrepreneurial spirit in rural areas. From an Artha perspective, we’re mild on AgriTech, and this initiative will enhance our total sentiment to again extra AgriTech startups from our funds.”