Bengaluru, NFAPost: In another efforts to support startup ecosystem in the country, Agriculture Minister Narendra Singh Tomar announced that India government will fund 112 startups in the first phase.
In the current financial year, to promote agricultural firms the government will provide a sum of Rs 11.85 crore. The fund will be distributed among the startups selected on the basis of different knowledge parameters and agribusiness incubators. The areas are of agro-processing, food technology, and value addition.
Narendra Tomar said the Agriculture Ministry is funding start-ups under the innovation and agripreneurship component of Rashtriya Krishi Vikas Yojana in the area of agro-processing, food technology and value addition.
The revamped version of the Rashtriya Krishi Vikas Yojana (RKVY) will release funds in instalments to contribute in enhancing the income of farmers.
Agri Incubation Centres
Agriculture Minister Narendra Sing Tomar said selected startups have been trained for two months at 29 agribusiness incubation centres spread across India.
These startups will provide employment opportunities for youth. The startups, directly and indirectly, will also contribute to enhancing the income of farmers.
India government has identified five knowledge partners as centres of excellence. It also has 24 RKVY-RAFTAAR agribusiness incubators (R-ABIs) from across the country after a nationwide advertisement and a rigorous selection process.
The Agriculture Minister emphasised on increasing private investment in the sector. His vision is to attract the youth to agriculture and rejuvenate the sector. He also stressed the need to make agriculture competitive, provide handholding to agriculture-based activities, and adopt new technology at the earliest.
“There is a need to make agriculture competitive, provide handholding to agriculture-based activities and adopt new technology at the earliest. We need to increase private investment in the field of agriculture,” said Narendra Tomar.
He also brought attention to the need for value addition and start-ups and exhorted government’s vision is to attract youth to agriculture and rejuvenate the sector.
In keeping with these initiatives of the Government of India to boost agriculture and allied activities and give an impetus to the rural economy, the Rashtriya Krishi Vikas Yojna (RKVY) aims at strengthening infrastructure in agriculture and allied areas.