Jindal Stainless Ltd. in collaboration with the Japanese company Future Venture Capital Company Ltd. (FVCCL) to launch an incubation centre for agritech startups in India. The announcement was made at the ‘Krisi Unnati’ event organised by Confederation of Indian Industry (CII) in Bhubaneswar. Reportedly, the deal agreement has already been signed and 5-10 startups will get selected for incubation.
The project is being led by Ratan Jindal, Jindal Stainless is the largest integrated stainless steel manufacturing company in India. Abhyuday Jindal, vice-chairman of Jindal Stainless Ltd., shared that the co-working space for the incubation centre will be located at Jindal Stainless’ office complex at Gurugram.
The development was earlier reported by Business Standard.
Jindal also suggested four progress stages of farmer outcomes. This includes – strengthening existing value change, shifting to higher value crops, diversifying income sources and conserving and managing natural resources.
Agricultural Production Commissioner Gagan Kumar Dhal further added that Odisha is the second state of the country which prepares special agriculture budget. For the current financial year, the state has increased its irrigation budget from $311 Mn (INR 2,000 Cr) to $1.08 Bn (INR 7000 Cr).