Inside the Incofin India Progress Fund-I Impact Report

Stories that define the year

Sahyadri Farms & Qul Fruit Wall — climate resilience in the field. When unseasonal rains battered Maharashtra’s grape belt and hailstorms hit Kashmir’s apple orchards during bloom, the wider industry saw 60–70% crop losses. Sahyadri’s proprietary ARRA grape variety and Qul’s High Density Plantations with anti-hail nets kept yields, quality and farmer incomes largely intact — proof that climate-smart agriculture is no longer optional, it’s foundational.

Varashakti Housing Finance — building for a warmer, wetter South India. All three states where VHF operates rank among India’s 12 most climate-vulnerable. With BII-funded technical assistance, VHF is integrating a climate risk questionnaire (based on the Dutch Green Building Council framework) into loan origination — screening for flood exposure, plinth heights, drainage and heat-resilient design. Housing finance, reimagined for a changing climate.

Unnati’s Krishi Setu — from red-label to green-label. Across 150 retailers in Uttar Pradesh, Unnati is helping ~62,500 farmers shift from high-toxicity generics to green-label and bio-based inputs — a market-level intervention that improves yields, protects soil health and reduces chemical runoff at scale.

Namdev Finvest — inclusion with intent. In rural Rajasthan and beyond, Namdev is expanding access to business loans, green financing for EVs and solar, and vehicle loans. This year, Namdev also launched a Gender Action Plan with a clear commitment: lift women’s workforce representation from 11% to 20%, and HQ representation from 28% to 40% by 2029, backed by a 1% interest waiver for women entrepreneurs, POSH-aligned safeguards, and community health and education initiatives.

Sahyadri’s Microalgae Project — waste to value. A first-of-its-kind 9-acre facility in Nasik treats 950,000 litres of wastewater daily using photosynthesis, generating nutrient-rich biomass while cutting an estimated 2,000 MT of net CO₂ per year.

Khetika’s SAATHI platform is rewiring staple-food supply chains, sourcing directly from smallholders with immediate payments and 5–6% higher realisations per quintal.

Alongside these stories, Mufin Green Finance broadened its green lending platform beyond EVs into mediclaim premium financing and MSME lending; SAVE Solutions completed a disciplined pivot toward secured housing and MSME loans while continuing to serve 18.2 million rural customers through its digital banking network; and Arthan Finance deepened credit access for nano and micro entrepreneurs, with new-to-credit borrowers growing 4.7x since investment.