This agreement was formalised during the Maharashtra Government’s participation at the World Economic Forum in 2024
The Maharashtra Government and Pegasus Capital Advisors have signed a Memorandum of Understanding (MoU) to collaborate and explore the potential of maximizing opportunities in the food security and food processing sector in Maharashtra. This agreement was formalised during the Maharashtra Government’s participation at the World Economic Forum in 2024.
The MoU outlines a collaborative effort between Pegasus Capital Advisors, a global private markets impact investment fund, and the Government of Maharashtra to explore and develop food processing units in the state of Maharashtra and the UAE. The Government of Maharashtra will share an operational plan within 90 days, detailing the opportunities for collaboration and identifying trusted partners and entities.
Maharashtra, with its robust agriculture sector and logistical capabilities, is well-positioned to address the GCC food security needs and this collaboration with Pegasus Capital Advisors aligns with the government’s vision to empower 11 million farmers in the state.
The Government of Maharashtra’s ambitious initiative focuses on addressing the UAE’s and GCCs immediate food basket requirements, promoting increased production capacity, and supporting the development of the food processing sector.
The comprehensive plan encompasses key aspects designed to bring about transformative changes in the food security and food processing sector. First, it prioritizes the empowerment of Maharashtra’s 11 million farmers, facilitating their access to markets and cutting-edge agricultural technology through strategic partnerships. Secondly, the initiative positions Maharashtra as a long-term supplier of essential food items such as millet, soybean, wheat, and sugarcane, effectively meeting the pressing food security needs of the UAE.