The importance of agriculture in the Indian economy cannot be over-emphasised. An estimated 58% of India’s population depends on agriculture as the primary livelihood source. Furthermore, agriculture contributes 17% to the national GDP, supporting the sector’s continued resilience. Indian agriculture is also 6.4% of the world’s total economic production.
To meet the growing demand for food for a populace country like India, utilising technology in all aspects of agriculture plays a crucial role in increasing efficiency and output.
The country has already witnessed incredible innovation happening across space. Still, we expect pivotal advancements will come in the next decade as climate change and the impact of the pandemic further and inadvertently highlight the importance of food safety, quality and supply. Furthermore, to fuel the growth of Agritech, increased adoption of smartphones and digital services in rural areas has set a stage for Agritech players.
Indian agritech landscape is extremely vast and we can use different lenses to access the situation. Here’s a perspective report on Agritech players addressing challenges and identifying ways to attract investments.