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India to support rural entrepreneurs to create food storage facilities
MUMBAI (Commodity Online): To store the surplus agricultural produce and to minimise food loss, India government plans to support the rural entrepreneurs with bank loans to create small and mid-size warehousing facilities.
This initiative by the government would be under the Private Entrepreneurs' Guarantee Scheme (PEGS) and according to the scheme, India will create small and mid-size warehousing capacity of 153 lakh tons by 2014 across the country.
This initiative is said to provide some relief to meet food security needs as huge quantity of food grains are lost during storage and transportation.
In the recent Budget 2012-13, India has allocated Rs 20,000 crore on rural infrastructure development and of which Rs 5000 cr will be spend on building new and upgrading the existing
Villgro Innovation Marketing Raises Seed Capital from Unitus Seed Fund
It plans to expand its innovative last mile distribution platform in South India.
By Shonali Advani
Chennai based Villgro Innovation Marketing (VIM), a rural distribution company, raised an undisclosed amount of seed series investment from U.S-based investment firm Unitus Seed Fund and a group of angel investors, end-March 2012, to further expand its operations in South India. Within the next five years, the company, aims to improve the income of one million rural households by at least 20 percent – 30 percent by encouraging the usage of sustainable and environment friendly products.
Founded in 2009, by Paul Basil (Founder) and Ashutosh Sinha, VIM is a cash-and-carry (wholesale) business for distributing products which improve the livelihoods and living standards of small and marginal farmers in India. Sales are made in villages through individual Village Level Entrepreneurs (VLEs) sales agents.
Announcing the investment and the opportunity therein, Jeevan Kumar R, Analyst Unitus Seed Fund said, “Ashutosh and Paul have put
MUMBAI (Commodity Online): To store the surplus agricultural produce and to minimise food loss, India government plans to support the rural entrepreneurs with bank loans to create small and mid-size warehousing facilities.
This initiative by the government would be under the Private Entrepreneurs' Guarantee Scheme (PEGS) and according to the scheme, India will create small and mid-size warehousing capacity of 153 lakh tons by 2014 across the country.
This initiative is said to provide some relief to meet food security needs as huge quantity of food grains are lost during storage and transportation.
In the recent Budget 2012-13, India has allocated Rs 20,000 crore on rural infrastructure development and of which Rs 5000 cr will be spend on building new and upgrading the existing
Villgro Innovation Marketing Raises Seed Capital from Unitus Seed Fund
It plans to expand its innovative last mile distribution platform in South India.
By Shonali Advani
Chennai based Villgro Innovation Marketing (VIM), a rural distribution company, raised an undisclosed amount of seed series investment from U.S-based investment firm Unitus Seed Fund and a group of angel investors, end-March 2012, to further expand its operations in South India. Within the next five years, the company, aims to improve the income of one million rural households by at least 20 percent – 30 percent by encouraging the usage of sustainable and environment friendly products.
Founded in 2009, by Paul Basil (Founder) and Ashutosh Sinha, VIM is a cash-and-carry (wholesale) business for distributing products which improve the livelihoods and living standards of small and marginal farmers in India. Sales are made in villages through individual Village Level Entrepreneurs (VLEs) sales agents.
Announcing the investment and the opportunity therein, Jeevan Kumar R, Analyst Unitus Seed Fund said, “Ashutosh and Paul have put