Agriculture sector in India has been the backbone of the country. Not only generating crops and keeping food-supply prosperous but Agriculture sector in India enjoys a significant share in the country’s GDP. India is one of the world’s largest agricultural producers by value. Infact, a study done by IMARC says that the agriculture sector in India reached a value of INR 63,506 Billion in 2020 and with increased used of technology or say digitalization the numbers gone touch new heights.
There are numbers of transformation we have seen in agriculture industry in India, digitalization and technology is among them. Also, rising penetration of the organized sector, growth in contract farming, agriculture becoming more mechanized, easy loan facilities, rise of exports, use of agrochemicals and high yielding seeds, and an increasing role of the private sector in processing, branding and marketing, etc. are few of them.
A report says that the agriculture industry in India to reach a value of INR 125,350 Billion by 2026, exhibiting a CAGR of 12% during 2021-2026.
During pandemic, there were heavy challenges due to unemployment but agriculture industry in India was offering job opportunities. Meanwhile the use of technology and tapping digitalization can improve the Agriculture Industry in India. There are numbers of technology which can improve the business of agriculture sector in India and agritech startups have made this possible. There are number of agritech startups in India, which have made advance technology to make farmers’ life much easier and fruiftful.
According to Nasscom, India has over 450 startups in this space. Funding is up 300% over the previous year in the agriculture sector in India. The focus is on digital transformation for creating new value chains that are innovative and disruptive. More than 50% of these agritech startups offer supply chain solutions, including market linkages and better access to farm inputs. It augurs well that experts estimate we’ll see 9 million jobs in this space by 2024, and most will be in rural areas with the boom of agriculture sector in India.
Here, we have enlisted top 5 agritech startups, which have made unbelievable technologies for the growth of agriculture sector in India:
Agribazaar: Mumbai-based agritech startup; Agribazaar has an aim of transforming the agriculture value chain through technology. The company was formed in 2016 for connecting farmers, traders, banks, enterprises and governments. Their AgriPay app has achieved huge popularity from its clients. Today, they are providing AI-driven insights and analytics to offer customized credit-on-a-click, crop advisory and more.
KrishiHub: Karnataka based KrishiHub is an agritech startup provides an advisory platform to farmers across the country to gain up to date knowledge on pricing, cultivation best practices, disease management, etc. They use use Artificial Intelligence to predict demand in advance which gives better visibility to farmers and reduces crop wastage helping the growth of agriculture sector in India.
ninjacart: With a vision to build India’s most efficient and largest Supply Chain platform and improve the lives of producers, businesses, and consumers in a meaningful manner, ninjacart an agritech startup connects producers of food directly with retailers, restaurants, and service providers using in-house applications that drive end to end operations. Currently, its Supply Chain is equipped to move 1400 tonnes of perishables from farms to businesses, every day, in less than 12 hours.
DeHaat: DeHaat provides AI-enabled technologies to revolutionize supply chain and production efficiency in the farm sector. Currently, it is operating in – Bihar, UP, Odisha, and WB – with 350,000 farmers in its service network and their aim is to bring services to 5 million farmers by 2024. DeHaat is one of the fastest-growing start-ups in the Agri Tech sector and one of the very few companies providing end-to-end solutions and services to the farming community in India for the growth of Agriculture sector in India.
BOHECO: BOHECO also known as Bombay Hemp Company is India’s first industrial hemp research startup, which works on three verticals: influencing policy, research, and commercializing hemp. They also grow hemp and do research on its medicinal properties for the treatment of various diseases. They have also established a B Label & Hemp Fabric Lab. Their focus is on the potential of cannabis in traditional medicine and nutrition, which led to – BOHECO Life, a Himalayan Hemp Nutrition and CannaReleaf™ (Cannabis Ayurvedic Remedies) brand. BOHECO is an agritech startup which believes that cannabis and hemp products can help sustainably revolutionize people diets and lifestyles. Certainly, a revolution in the agriculture sector in India.
There are number of initiatives has been taken by the Indian government to improvise the condition of agriculture industry in India. Below mentioned are few initiative:
- e-NAM: For getting real price value and providing facilities for smooth marketing of the products, this National Agriculture Market or eNAM has been launched. It’s an online trading platform for agricultural commodities in India.
- BharatNet: With an agenda of providing connectivity to all 250,000 gram panchayats in the country and improving communication between one another, this BharatNet app has been introduced by the Department of Telecommunications, Government of India.
- In order to deliver appropriate technology and improved agronomic practices to farmers the mission called ‘National mission on agricultural extension and Technology’ has been initiated by the government. The aim is to get interactive methods of information dissemination, use of ICT, popularisation of modern technologies, capacity building etc.
- AgriMarket App: This app has been launched to keep farmers updated with the crop prices and discourage them to carry-out distress sale. While using this app, farmers can get to know about the prices of crops in markets within 50km of their own device location.
- e-governance efforts: For making agriculture sector in India more strong and capable, the government has announced three websites: farmer portal, kisan call centre and mKisan portal. By using these apps informed decisions for efficient farming under varying agro-climatic conditions. Under the eGovernance program, soil health card software has been standardised and web-based software developed to provide integrated nutrient management recommendations.
The Covid-19 crisis has disturbed every industry and agriculture industry in India is one of them. While facing such issues, we have realized the value of digitalization and after getting smart solution we are set to see the best minds at work to propel innovation. The agriculture industry in India can improve gradually by obtaining smart solutions and agritech startups can also make it possible.