English 
搜索
Hebei Lansheng Biotech Co., Ltd. ShangHai Yuelian Biotech Co., Ltd.

Accelerating the growth of smart farming with Agri-tech in Indiaqrcode

−− Agri-tech startups are growing at a rate of almost 25% per year. But, for greater acceptance and adoption, they must tailor their services and products to make them affordable for farmers

Aug. 21, 2020

Favorites Print
Forward
Aug. 21, 2020

Accelerating the growth of smart farming with Agri-tech in India

Agriculture is the mainstay of the Indian economy. It contributes nearly 66% to the overall employment opportunities in the country. However, traditional methods of agriculture are not sustainable and cannot help the sector survive and thrive. As the human population grows and arable land decreases, the agriculture sector will be under a lot of stress to feed this exploding population.


Agri-tech: Smart farming that leverages technology


Technology can be a powerful enabler not only when it comes to overcoming the hurdles in the supply chain, but also to improve the yield and revenues. Enter agri-tech, which leverages the power of technology to improve farming-related activities. Agri-tech holds immense promise when it comes to helping improve the yield and profitability for farmers with greater efficiency.


Niche agri-tech startups are leveraging the latest technologies including artificial intelligence, machine learning, big data analytics, blockchain, drones, GIS, and Internet of Things (IoT) to solve pressing problems that have been plaguing the agriculture industry in India. From supply chains to more basic issues such as the quality of seeds or soil, scarcity of water, lack of storage facilities, and poor access to market, the agri-tech startups are helping the Indian agriculture sector overcome these hurdles. Apps using IoT and sensors help determine wind speeds as well as moisture content of the soil. Further, they help monitor the health of the crops.


A sunrise sector with impressive growth potential


Agri-tech is a fast-growing sector with great potential to benefit Indian agriculture. In India, there are over 450 technology startups focused on agriculture—also known as agri-tech startups—that are growing by 25% every year, says a 2019 NASSCOM report. The report further says that by June 2019, the agri-tech startups had already enjoyed funding worth $248 million. Globally, the smart farming market is projected to reach $23.14 billion by 2022, growing at a CAGR of 19.3% from 2017, says a BIS Research report.


Support coming in from the union government


The agri-tech sector in India is also finding support from the central government that is working to double the farmers’ income by 2022. To this end, the NITI Aayog is collaborating with companies like IBM to pilot technology-driven solutions for the agriculture sector. This is with a view to provide real-time advice to the farmers. For instance, artificial intelligence is being leveraged to develop crop-yield protection models.


In addition, to benefit cooperatives through the use of technology, the Government of India plans to computerize the Primary Agricultural Credit Society (PACS) with a grant of nearly INR 2,000 crore. Other government initiatives to support smart farming in India include establishing the National Centre for Management of Agricultural Extension in Hyderabad (MANAGE), the introduction of the Pradhan Mantri Krishi Sinchayee Yojana (PMKSY), One Nation One Market, and mentoring the agri-tech start-ups.


Make tech-enabled solutions affordable for farmers


If smart farming practices and the tech-enabled support is not affordable, farmers will be reluctant to adopt and accept them. This is because most farmers in India have meager incomes, which may prevent them from reaping the benefits of this digital revolution in agriculture. Therefore, agri-tech start-ups must tailor their services and products in a way that the benefits can reach the farmers and they readily embrace the change.


[ Survey ]

Join AgroPages TOP 20 India Agrochemical Companies ranking list in FY2019-20

The ranking list of top 20 India agrochemical companies has been published by AgroPages for 7 years since FY2012-13. To understand Indian agrochemical market better and faster, we will make persistent efforts to keep on.

Top 20 Indian Agrochemical Companies in FY 2018-19: Backwards Integration, Forwards “OpenAg”

Join us in this year's list!

 

Note:

1. The list of rankings focuses only on Indian native enterprises, excluding the branches of multinational companies in India.

2. The list of rankings focuses only on the sales of pesticide products(TC & Formulation), excluding the sales of fertilizers and intermediates.
3. If you join this survey, we'll freely publish a PR news online for your company. Please contact: zorro@agropages.com
We'll offer you the Company Directory in the upcoming 2020 India Pesticide Suppliers Guide magazine once the information adopted.

  1. 1. What are the sales of pesticide products(TCs & Formulations) in FY2019-20?
  2. 2. What do you think of the increase/decrease in sales this year compared with last year? Please describe briefly.
  3. 3. What are your company's actions to keep your business running during this tough time?
  4. 4. Please leave your information to submit the survey.
    Your Name:
    Email:
    Company:
    Tel:
    Mobile:
Source: Data Quest

0/1200

More from AgroNewsChange

Hot Topic More

Subscribe Comment

Subscribe 

Subscribe Email: *
Name:
Mobile Number:  

Comment  

0/1200

 

NEWSLETTER

Subscribe India Special Biweekly to send news related to your mailbox