Grow Indigo secures $10 million to expand carbon farming across India – CNBC TV18

Agritech agency Grow Indigo has secured a $10 million funding from British Worldwide Funding (BII), a transfer that can considerably scale its carbon farming operations and improve its attain amongst Indian farmers. The funding is about to deepen the corporate’s presence across the nation whereas strengthening its sustainability-centered initiatives.

Usha Barwale Zehr, Govt Chairperson and Co-Founding father of Grow Indigo, mentioned the corporate’s mission is rooted in making agriculture extra resilient. “Grow Indigo may be very a lot centered on sustainability in agriculture. And once I say sustainability in agriculture, we try to have a look at what it’s that farmers do, and what we are able to enhance to make it extra resilient going ahead.”

To that finish, Grow Indigo gives a set of options, together with organic inputs and a pioneering carbon farming programme that enables farmers to earn by adopting local weather-pleasant practices.

This programme allows farmers to cut back their greenhouse gasoline emissions by particular agricultural practices. These reductions are then measured, verified, and transformed into carbon credit, that are offered in carbon markets—producing a brand new revenue stream for farmers.

“Once I say carbon farming, the farmers even have to undertake a brand new agricultural follow that reduces their greenhouse gasoline footprint. This then will get quantified, and the farmers are remunerated or paid by the sale of carbon credit,” Zehr defined.

The corporate has already reached over one million farmers across India, and the programme’s advantages lengthen past local weather impression. Farmers usually see improved soil well being, higher water retention, and elevated yields. The carbon credit function an extra income stream—basically a second crop.

“So, the farmer is now not simply rising one crop of rice, they’re additionally in parallel, rising a crop of carbon. This will increase their revenue by anyplace from 5-10% just by collaborating within the carbon programme,” mentioned Zehr.

Whereas Grow Indigo at present generates income from its organic inputs, carbon credit are set to change into a serious new revenue supply. The corporate expects to challenge almost half a million credit this 12 months, marking its first income from carbon gross sales.

With the contemporary capital infusion, Grow Indigo plans to expand past its present hubs in Punjab, Haryana, Maharashtra, and Gujarat. It’s concentrating on new geographies together with Madhya Pradesh, Uttar Pradesh, Bihar, Chhattisgarh, Andhra Pradesh, and Telangana.

Though the corporate’s preliminary focus has been on rice and wheat programs, it is usually exploring carbon initiatives in different key crops similar to cotton, sugarcane, corn, and soybean.

Watch the accompanying video for extra.