Maharashtra Government Signs MoU for Rs 2,500 Crore Investment in Agriculture

The Maharashtra Government has entered into a Memorandum of Understanding (MoU) worth approximately Rs 2,500 crore alongside Rural Enhancers Group and Nutrifresh Farm Tech during the ongoing World Economic Forum in Davos. This important agreement was formalised with the presence of Maharashtra Chief Minister Devendra Fadnavis.

The MoU was signed by Ambar Ayade, the Managing Director and CEO of Rural Enhancers Group, and Sanket Mehta, CEO of Nutrifresh Farm Tech. The focus of this MoU is to draw investments into climate-smart and technology-based agriculture within Maharashtra. Notably, this stands as one of the primary agriculture-centric agreements concluded at the forum.

Project Launch and Technological Integration

The project is set to commence in April 2026 and will utilise Nutrifresh’s technological expertise. Nutrifresh, which was established in 2019 by Ganesh Nikam and Sanket Mehta, employs Artificial Intelligence (AI) and Internet of Things (IoT) technologies to enhance agricultural production. The company aspires to broaden its operations across 2,000 acres by the year 2028, with an annual revenue target of $250 million.

Currently, Nutrifresh offers more than 50 products, functions in over 15 Indian states, and caters to select international markets.

Roles and Responsibilities Under the MoU

As per the agreement, Rural Enhancers Group will serve as the funding agency and project integrator, while the Maharashtra Government will extend policy, institutional, and implementation assistance. Financing for the project will utilise a blended funding approach, incorporating UAE-based financial entities, Indian public sector banks, development finance institutions, and international banks.

In commenting on this significant agreement, Ambar Ayade expressed that the initiative is anticipated to foster job creation, promote climate-resilient agricultural methods, support agri-tourism, enhance women’s involvement, and contribute to increasing farmers’ incomes.