Agritech Innovations in India

Abstract

There is a rapid pace of innovation in literally every industry in order to improve efficiency and adapt to new challenges. However, the pace of innovation in agriculture focused on the needs of smallholder farmers is too slow. Farmers in emerging economies like India face many challenges that include changing weather conditions, declining water table, degradation of soil, rising farm input costs, and declining income.

Agriculture employs about 60 percent of India's population. Hence, it is important to develop technological solutions addressing the needs of smallholder farmers, who account for about 86% of farmers in India. Multiple successful startups are helping to address the needs of farmers and other key stakeholders in India. However, the adoption is still limited, and further innovations (both process and product) in agri-tech are needed to accelerate the efficiency and growth of the industry. Emerging technologies like blockchain, computer vision, robotics, and artificial intelligence can accelerate the rate of innovation and scale of adoption. These innovations will help farmers maximize yields by conserving resources, thereby increasing their income and net profit.