In a groundbreaking move that underscores its commitment to agricultural innovation, the state of Maharashtra has inked a substantial Rs 2,500 crore Memorandum of Understanding (MoU) at the World Economic Forum in Davos. The agreement, signed in the presence of Maharashtra Chief Minister Devendra Fadnavis, aims to infuse advanced technology and climate-resilient practices into the state’s agricultural landscape. This initiative, set to launch in April 2026, marks a significant stride towards modernizing a vital sector of the Indian economy.
The Rs 2,500 crore investment is poised to drive large-scale investments in climate-smart and technology-driven agriculture across Maharashtra. Rural Enhancers Group will serve as the primary funding agency and project integrator, leveraging its expertise in managing large-scale projects. The funding will be sourced through a blended structure, drawing capital from UAE-based financial institutions, Indian public sector banks, development finance institutions, and other foreign banks. This approach aims to de-risk investment and facilitate broad deployment. In parallel, the Government of Maharashtra will provide crucial policy, institutional, and implementation support, creating an enabling environment for the ambitious project.
At the technological core of this initiative is Nutrifresh Farm Tech India Pvt. Ltd., a Pune-based company founded in 2019. Nutrifresh specializes in Controlled Environment Agriculture (CEA), employing Artificial Intelligence (AI) and Internet of Things (IoT) based technologies to ensure consistent, high-quality produce. These technologies enable precision farming, mitigating risks associated with climate unpredictability and traditional farming challenges like pests and pesticide use. Nutrifresh aims to significantly expand its operational footprint to 2,000 acres by 2028, targeting an annual revenue of USD 250 million. The company has demonstrated growth, with its operating revenue projected to be between INR 100 crore and INR 500 crore for the fiscal year ending March 2025. Nutrifresh has also secured considerable venture funding, with a total of $20.1 million raised across three rounds, the latest being a $15.1 million Seed round in August 2023, valuing the company at approximately ₹420 crore.
The collaboration underscores Maharashtra’s commitment to transforming its agricultural sector. The state has been actively promoting AI and digital technologies in agriculture through policies like the Maha Agri-AI Policy 2025–2029, aiming to enhance productivity, climate resilience, and farmer incomes. The projected outcomes of this Rs 2,500 crore pact extend beyond technological advancement. Ambar Ayade, MD and CEO of Rural Enhancers Group, highlighted the potential for large-scale direct and indirect employment generation, promotion of climate-resilient agricultural practices, encouragement of agri-tourism, increased participation of women in agriculture, and a significant boost to farmers’ incomes. These outcomes align with broader national goals for agricultural transformation and sustainable development.
The World Economic Forum in Davos has served as a platform for Maharashtra to showcase its forward-looking approach to agriculture. While Nutrifresh Farm Tech India Pvt. Ltd. is a privately held entity and thus does not have publicly traded market capitalization or P/E ratios, its established presence and ambitious growth targets, coupled with the substantial investment secured through Rural Enhancers Group and the government’s backing, position this initiative as a potentially transformative development for India’s agri-tech sector.