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Opportunities for startsups in Agri-Tech

Rising mobile and internet penetration in rural India, has disrupted the consumption story, with startups implementing technology at each stage of the consumer’s journey. And now, it is moving to the lifeline of India’s MSME—agriculture.

The central and state governments are proactively pursuing policies to improve farmers’ lives in India. In fact, PM Modi’s government has an aim to double the average farmer’s income by 2022. Agriculture, along with fisheries and forestry, is one of the largest contributors to the Indian Gross Domestic Product (GDP). The GDP of agriculture and allied sectors in India was recorded at $244.74 Bn in FY ‘16.

How can agri-tech startups help agriculture growth?

Technologies in agriculture can answer two main concerns.

  1. Provide correct information, techniques, and efficiencies to farmers both for pre-harvest applications and post-harvest use cases.
  2. Remove the wastage in the existing agriculture supply-chain using internet as a medium to connect various stakeholders—farmers and consumers.

Future agritech will focus on more sustainable methods of production, this will happen when problems faced by MSME farmers receive the attention that they need. It is important that time is spent with farmers before suggesting solutions.

While technology innovations have existed in this sector for a long time, they always lacked the penetration factor and hardly reached MSME farmers. Now, with technology-driven startups existing concerns can be gradually faded away, providing farmers with direct market access and information.

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