What's Happening?
The Government of Maharashtra has entered into a Memorandum of Understanding (MoU) valued at approximately Rs 2,500 crore with Rural Enhancers Group and Nutrifresh Farm Tech India Pvt. Ltd. This agreement
was formalized at the World Economic Forum in Davos, with Maharashtra Chief Minister Devendra Fadnavis present. The MoU focuses on large-scale investments in climate-smart and technology-driven agriculture, set to commence in April 2026. Under this agreement, Rural Enhancers Group will serve as the funding agency and project integrator, while the Maharashtra government will provide policy and implementation support. The project will be financed through a blend of funding from UAE-based financial institutions, Indian public sector banks, and foreign banks. Nutrifresh will leverage its controlled environment agriculture capabilities, utilizing AI and IoT technologies to ensure high-quality produce.
Why It's Important?
This MoU represents a significant step towards modernizing agriculture in Maharashtra through technology and climate-smart practices. The initiative is expected to generate substantial employment opportunities, promote climate-resilient agricultural practices, and support women's participation in the sector. By improving farmers' incomes and encouraging agri-tourism, the project aims to bring long-term transformation to the agricultural landscape. The involvement of international and domestic financial institutions underscores the project's potential to attract significant investment and drive economic growth in the region.
