Professor Jayashankar Telangana State Agriculture University (PJTSAU) Hyderabad on Monday launched an innovation hub to encourage the agricultural sector. The project named AgHub will support agritech startups by incubation and acceleration of developmental steps.
It was set up with the help of the National Bank for Agriculture and Rural Development (NABARD). The agriculture bank has granted Rs 10 crore for this incubator.
K.T. Rama Rao, the Information Technology and Industry Minister, launched the facility in the presence of Agriculture Minister S. Niranjan Reddy, Education Minister P. Sabitha Indra Reddy.
The initiative would also support promotion of rural entrepreneurship for building agribusiness enterprises promoted by rural youth, women, farmers, and FPOs etc.
NABARD Chairman Govinda Rajulu said that they had helped setting up of seven agriculture incubators in the country which will benefit farmers, whose income remained low despite the increase in production of agriculture produce.
Rama Rao pointed out the need for improving productivity and profitability of the agriculture sector. He also said that food security is no longer a challenge for India but nutritional security is important. Since the Covid-19 pandemic broke out, people are more inclined towards consuming nutritional food which can help them to fight against harmful organisms. He also discussed the rapid growth the state of Telangana made in the agriculture sector in a short span of time and claimed that no other state in the country is working on such a large number of schemes for the welfare of farmers and development of the agriculture sector.