Dhule: ‘Project MAGNET Boosts Investment, Employment In Maharashtra’, Says Minister Jaykumar Rawal

While assuring senior officials of the Asian Development Bank (ADB) about the progress of the Maharashtra Agribusiness Network (MAGNET) project in the state, Marketing Minister Jaykumar Rawal said that the implementation of this project has given a boost to investment and employment in the state.

A meeting was held in the hall of the ministry on Wednesday under the chairmanship of Marketing Minister Jaykumar Rawal. On this occasion, Principal Secretary of the Cooperation and Marketing Department, Pravin Darade, Executive Director of Maharashtra State Agricultural Marketing Board, Sanjay Kadam, Project Director of MAGNET, Vinayak Kokare, along with Asian Development Bank Director (India) Mrs Mio Oka, Takeshi Udeo, Krishan Rautela were present through video conferencing.

Integrated Value Chain Development through Magnet Project

The Maharashtra Agri Business Network (MAGNET) project, funded by the Asian Development Bank and the Marketing Department, is being implemented in all districts of the state. 

An integrated value chain from production to consumer distribution for a total of 15 horticultural crops, including 14 major fruit crops (pomegranate, banana, orange, citrus, custard apple, guava, chickpea, strawberry, okra and chilli (green and red), mango, cashew, lemon, padwal) and all types of flowers, is being developed through the MAGNET project. 

This involves the participation of Farmer-Producer Organisations (FPOs), exporters, processors, organised retailers, small and medium entrepreneurs engaged in agribusiness, financial institutions, and self-help groups.

Loan and working capital through ‘ADB’

The main objectives of the MAGNET project are to increase farmers’ income by attracting private investment in the value chain of 14 horticultural crops and flowers in the state, reduce post-harvest losses of fruits and vegetables and increase their storage capacity, add value to the goods according to demand and make the distribution system efficient, and increase the participation of farmer producer organizations in the value chain. 

To achieve these objectives, the necessary technical assistance, assistance for building infrastructure, medium-term loans and working capital are being provided through ‘ADB’ to enable producers and entrepreneurs to access new and organised markets.

In this meeting, a detailed discussion was held through a presentation on the progress of the project. The financial plan of the MAGNET project is 142.9 million US dollars, and the implementation period of the project is from 2021-22 to 2027-28. The expanded phase of this project, MAGNET 2.0, was also discussed at this time.

Detailed plan of Magnet 2.0 project It was informed that a detailed plan of Magnet 2.0 project, which includes best agricultural technology, handling of agricultural produce, infrastructure, packaging, branding, inclusion of corridor horticulture value chain on Samruddhi Highway, institutional strengthening of Maharashtra State Agricultural Marketing Board, carbon credit etc., is being prepared through and in collaboration with the Asian Development Bank to provide international market for the state's agricultural produce.