Mumbai : In an event organized today by NABFOUNDATION, some of the biggest agri start-ups in the country got together to interact with the policy framers and share their aspirations and growth strategies. The virtual meeting held a lot of significance because it has now been proven beyond doubt that what saved India from a sure shot catastrophe over the last 18 months or so was the phenomenal rally by the agri sector. Equally significant was the role played by market linkage technology provided by established private sector players and agri start-ups.
The agri start-up community is said to hold the key to many travails afflicting the Indian agri sector. But they themselves face hurdles in giving a shape to their ideas. The meeting saw the heads of top agri start ups share what they desired from the system. The meeting was chaired Dr. G R Chintala, Chairman, NABARD while Shri Anil Agrawal, Additional Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry delivered the inaugural speech.
Speaking on the occasion, Shri Anil Agrawal informed the agri startup community about the phenomenal set of products and services designed to encourage agri enterprises. He remarked that it was an opportune moment in time for GOI and NABARD to come together to make a lasting difference in the start-up sector.
Dr. Chintala remarked that leveraging the power of convergence was the need of the hour with some 1500 agri start-ups on one hand and some 4500 Farmer Producer Organizations set up by NABARD on the other. Convergence between NABARD, NABFOUNDATION, NABVENTURES and agri-start-ups, he added, can bring in the much-needed youthful dynamism and technological expertise which rural India needs so desperately.
The biggest need expressed by agri start-ups across the country was access to farmer communities and self-help groups to broad base their areas of operation. Equally significant was the need for building backward linkages. The meat industry aggregator for instance would want to have more organized goat rearing among more rural communities.
NABARD, through NABVENTURES, has provided venture capital assistance to agri startups and today is the largest supporter in the agri sector. The Chairman NABARD expressed his desire to work along with GOI to establish a Fund of Funds specifically for rural agri start-ups.