News & Information From Northeast India

Awareness camps on venture capital assistance for Agripreneurs in Assam

In a bid to help agripreneurs in Assam, Small Farmer Agri-Business Consortium (SFAC) organized awareness camps on Venture Capital Assistance Scheme (VCAS) at various places in the state.

As a part of the third phase of its awareness camp, SFAC conducted camps at Morigaon, Darrang, Udalguri, Baksa, Dibrugarh, Sivasagar and Jorhat. The scheme offers venture capital to set up agri-business projects and project development facility to assist producer, producer groups/organization, and units in agri-export zones and agriculture graduates in preparation of economically viable detailed project report (DPR).

The camps were attended by various departments including agriculture, horticulture, fisheries, forest, besides NGOs & SHG, entrepreneurs, LDM including bankers, NABARD, Krishi Upaj Mandi Samiti, Finance Corporations, SFAC, AFC, etc.

The scheme envisages single window approach while associating with banks financing the projects, to extend venture capital, with term loan and working capital, to agribusiness applicants. The project should be in agriculture or allied sectors only – horticulture, floriculture, medicinal and aromatic plants, minor forest produce (MFP), apiculture, and fisheries, etc. Projects in dairy and poultry sectors have been excluded.

According to managing director, SFAC, Sumanta Chaudhuri, “The aim is to facilitate setting up of agri-business ventures in close association with banks. To catalyze private investments in setting up of agri-business projects and, thereby providing assured market to producers for increasing rural income & employment.”

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