Maharashtra govt signs Rs 2,500 crore agriculture MoU with Rural Enhancers, Nutrifresh at Davos

The Government of Maharashtra has signed a Memorandum of Understanding valued at approximately Rs 2,500 crore with Rural Enhancers Group and Nutrifresh Farm Tech India Pvt. Ltd. at the World Economic Forum in Davos.

The agreement was executed in the presence of Maharashtra Chief Minister Devendra Fadnavis and is among the first agriculture-focused MoUs signed at the forum.

The MoU was signed by Ambar Ayade, Managing Director and CEO of Rural Enhancers Group, and Sanket Mehta, CEO of Nutrifresh Farm Tech India Pvt. Ltd.. It outlines large-scale investments in climate-smart and technology-driven agriculture in Maharashtra, with the project scheduled to go live from April 2026.

Under the agreement, Rural Enhancers Group will act as the funding agency and project integrator, while the Government of Maharashtra will provide policy, institutional, and implementation support. The project will be financed through a blended funding structure involving UAE-based financial institutions, Indian public sector banks, development finance institutions, and foreign banks.

The initiative will leverage Nutrifresh’s controlled environment agriculture capabilities, which use Artificial Intelligence and Internet of Things-based technologies to deliver consistent and high-quality produce. Founded in 2019 by Ganesh Nikam and Sanket Mehta in Pune, Nutrifresh operates across more than 15 Indian states, offers over 50 products, and serves select international markets. The company plans to expand operations to 2,000 acres by 2028 and is targeting annual revenue of USD 250 million.

Commenting on the agreement, Ayade said the initiative is expected to generate large-scale direct and indirect employment, promote climate-resilient agricultural practices, encourage agri-tourism, support women’s participation, and contribute to improving farmers’ incomes. He added that structured programmes and assured market linkages could bring long-term transformation to the agricultural sector.