Pune: MAGNET Project Says it Offers No Investment Returns, Urges Farmers to Beware of Scams
Pune, 4th August 2026: The Maharashtra Agribusiness Network (MAGNET) project has issued a clarification distancing itself from misleading social media posts and news reports claiming arrests in connection with fraud committed in the project’s name. The project authorities said the reports have no link with the government-backed initiative and urged farmers not to fall prey to such misinformation.
The MAGNET project, implemented by the Maharashtra government with financial assistance from the Asian Development Bank, aims to reduce post-harvest losses and increase farmers’ income by strengthening value chains for horticultural produce, including fruits and flowers.
The project covers the development of integrated value chains for 14 major fruit crops and various flower crops. Its components include nursery development, promotion of improved varieties, strengthening Farmer Producer Organisations (FPOs), adoption of modern farming technologies, post-harvest management, food processing, market development and creation of public infrastructure. Financial assistance will also be provided to FPOs and private investors for value chain development, while the Maharashtra State Agricultural Marketing Board will develop new and existing infrastructure.
Project authorities clarified that the MAGNET scheme does not promise any interest or financial returns on investments. Farmers and members of the public have been advised not to trust fraudulent messages using the project’s name and to rely only on information available on the official MAGNET website, the project director said.
