The decision was taken following a workshop organized by the Department of Agriculture and Farmers Welfare titled 'Unlocking India's Agribusiness Potential through Innovative Agriculture Value Chain Financing', here on Thursday.
Senior officials from the Government of India and state governments, experts and stakeholders attended the workshop to discuss the dynamics of agricultural financing.
Agriculture Secretary Manoj Ahuja said: “To develop agricultural value chains (AVCs) more comprehensively and integrate them with global markets, we must shift our focus from simply addressing supply shortages to meeting market demand.”
Ahuja advocated the introduction of financial instruments such as bill discounting, bridging financing and risk hedging to improve liquidity and economic stability.
“Creating an enabling environment with simplified application processes and reduced bureaucratic hurdles is crucial to implementing these instruments effectively,” he added.
Vivek Joshi, Secretary, Department of Financial Services, emphasized the critical role of digital financial services in providing timely credit within the Agricultural Value Chain Finance (AVCF) framework, noting a significant increase in credit availability agricultural.
He also highlighted the important role of NBFCs, fintechs and startups in providing access to last-mile credit and specialized financial products, particularly in high-value agricultural markets.
"Our goal is to ensure seamless and affordable access to credit to support farmers across the entire value chain," he said.
The workshop focused on raising awareness, facilitating collaboration, exploring solutions and empowering participants with innovative agricultural financing solutions.
Ajeet Kumar Sahu, Joint Secretary (Credit), DA&FW, highlighted the need for a holistic approach to agricultural value chain financing, noting that projections indicate that agricultural gross value added (GVA) will reach Rs 105 crore. lakh by 2030, which will make value chain financing increasingly large. vital.
Senior officials from the Government of India and state governments, experts and stakeholders attended the workshop to discuss the dynamics of agricultural financing.
Agriculture Secretary Manoj Ahuja said: “To develop agricultural value chains (AVCs) more comprehensively and integrate them with global markets, we must shift our focus from simply addressing supply shortages to meeting market demand.”
Ahuja advocated the introduction of financial instruments such as bill discounting, bridging financing and risk hedging to improve liquidity and economic stability.
“Creating an enabling environment with simplified application processes and reduced bureaucratic hurdles is crucial to implementing these instruments effectively,” he added.
Vivek Joshi, Secretary, Department of Financial Services, emphasized the critical role of digital financial services in providing timely credit within the Agricultural Value Chain Finance (AVCF) framework, noting a significant increase in credit availability agricultural.
He also highlighted the important role of NBFCs, fintechs and startups in providing access to last-mile credit and specialized financial products, particularly in high-value agricultural markets.
"Our goal is to ensure seamless and affordable access to credit to support farmers across the entire value chain," he said.
The workshop focused on raising awareness, facilitating collaboration, exploring solutions and empowering participants with innovative agricultural financing solutions.
Ajeet Kumar Sahu, Joint Secretary (Credit), DA&FW, highlighted the need for a holistic approach to agricultural value chain financing, noting that projections indicate that agricultural gross value added (GVA) will reach Rs 105 crore. lakh by 2030, which will make value chain financing increasingly large. vital.
