Finance Minister announces incentive to startups participating in Millets Innovation Challenge

Rs 25 Cr funding to the University of Agricultural Sciences, Raichur from NABARD for millet research

The United Nations General Assembly has declared the year 2023 as the International Year of Millets, with 72 countries supporting India’s proposal at the initiative of Prime Minister Shri Narendra Modi. To commemorate this, the University of Agricultural Sciences, Raichur and National Bank for Agriculture and Rural Development (NABARD) organised a two-day Millets Conclave in collaboration with the Agriculture and allied departments.

During the conclave, issues related to nutritious cereal production and value addition were discussed with the farmers, FPOs, entrepreneurs, agri startups, investors, exporters, agricultural scientists, NABARD and lead banks and agricultural development departments.

On this occasion, the Union Finance Minister Nirmala Sitharaman announced several awards including three first prizes of Rs 1 crore each as an incentive to agri startups participating in the Millets Innovation Challenge, while the Union Minister of Agriculture and Farmers Welfare, Narendra Singh Tomar said that the time has come to give Millets a respectable place in the plate of food not only in India but across the world. “We have to bring forth the importance of nutritious grains to the world,” he said.

Sitharaman said that the relevance of the deliberations held for two days in the Conclave regarding the Millets would come out soon. Promotion of millets will not only meet the food requirements, but will also give an opportunity to new startups to bring their products to the world. This will increase employment opportunities, especially women can be engaged in work from millet production to processing. 

Image credit- pib