As agritech explores new avenues of growth in the country, traditions have been given a new look to meet modern needs, from taking turns manning fields to using drones to keep an eye on things.
The modern farming methods that are based on science and technology now offer the Indian agriculture sector a plethora of opportunities. The agriculture industry is getting a fresh start thanks to cutting-edge technologies.
The agritech transformation journey is being driven by a suite of applications that digitize the agricultural sector and alter the agriculture ecosystem. The market opportunity that needs to be realized by the year 2025 is $24 billion.
The journey can see the support from the government, as Budget 2022-23 reveals plans to establish a fund specifically for agritech startups.
The key to agri-tech’s growth in the country is a group of important subsectors. These are some:
Termed as the entry point for agri-tech penetration in India, market linkage is the highest contributor with $12 Bn market opportunity open to explore by 2025.
Ninjacart, Waycool, FarmLink
Technology and it’s solutions are changing the face of agrifinance with a slew of innovations, creating opportunities to make the most of the $4.1 Bn opportunity.
Jai Kisan, payAgri, CashPlow
As usage of technology gathers momentum, data-driven decision making is enabling the widespread usage of precision agriculture for better yields that’s staring at a market opportunity of $3.4 Bn.
Fasal, Cropin, Stellapps
Farm Management and Inputs: This emerging subsector is looking to explore the $1.7 Bn opportunity by the year 2025.
Bijak, Gramophone, m.i.t.r.a
The goal of smart approaches and digital agriculture is to make the most of their tremendous potential to boost Indian agriculture’s scale and position it for success in international markets.