India Boosts Vertical Farming with Rs 2 Crore Loans, 3% Interest Subvention
The Indian government has included vertical farming in its Agriculture Infrastructure Fund (AIF), offering loans of up to Rs 2 crore with a 3% interest subvention. This move promotes modernisation and sustainable farming practices. Vertical farming, a land and water-efficient method, grows crops in stacked layers using climate control. It allows year-round cultivation, regardless of weather, often using hydroponics or aeroponics. To avail this benefit, applicants need to develop a project report, choose a lending institution, and apply through the AIF portal. The AIF, launched in 2020, aims to enhance productivity, reduce post-harvest losses, and improve farmers' income. It supports a wide range of entities, including farmers, Farmer Producer Organizations, Self Help Groups, and agri-entrepreneurs. By including vertical farming in the AIF, the government encourages sustainable practices and supports farmers. With interest subvention and credit guarantee coverage, this initiative boosts productivity and sustainability in Indian agriculture.
