In a landmark move for India’s agricultural sector, the Government of Maharashtra has signed a Memorandum of Understanding (MoU) worth ₹2,500 crore with Rural Enhancers Group and Nutrifresh Farm Tech at the World Economic Forum (WEF).
The agreement was signed in the presence of Chief Minister Devendra Fadnavis, marking one of the first and largest agriculture-focused deals at the 2026 summit. The project, set to go live in April 2026, aims to modernize Maharashtra’s agricultural landscape through Artificial Intelligence (AI) and Internet of Things (IoT)-driven precision farming.
A Global Blended Finance Model
The initiative introduces a sophisticated funding structure to de-risk rural infrastructure. Under the MoU, Rural Enhancers Group will serve as the project integrator and primary funding agency.
The capital will be raised through a blended financing model involving:
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International Capital: UAE-based financial institutions and foreign banks.
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Domestic Support: Indian public sector banks and Development Finance Institutions (DFIs).
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State Support: The Government of Maharashtra will provide policy frameworks, institutional backing, and implementation logistics.
Technology-Led Agriculture: The Nutrifresh Vision
Nutrifresh Farm Tech, co-founded in 2019 by Sanket Mehta and Ganesh Nikam, will lead the technological implementation. The company is a pioneer in Controlled Environment Agriculture (CEA), using hydroponics and AI to ensure residue-free, high-quality produce.
Growth Targets & Impact:
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Scale: Expanding operations to 2,000 acres by 2028.
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Revenue: Targeting an annual revenue of $250 million.
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Reach: Currently active in 15+ states, the new project will deepen their footprint in Maharashtra’s rural clusters.
Social and Economic Transformation
Beyond technology, the project is designed to be a catalyst for rural social change. Ambar Ayade, MD & CEO of Rural Enhancers Group, emphasized that the investment focuses on several key pillars:
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Employment: Large-scale job creation for rural youth.
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Resilience: Promoting climate-resilient practices to combat unpredictable weather patterns.
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Empowerment: Specifically targeting women’s participation in the high-tech agri-value chain.
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Agri-Tourism: Developing the farms as educational and tourism hubs to diversify farmer income.
“This is not just an investment in land; it is an investment in the future of the Indian farmer. By integrating global capital with local ingenuity and AI, we are ensuring that Maharashtra remains the leader in sustainable, high-tech agriculture,” said Ambar Ayade.
By: Vanshika Tayal
