On the one hand, ecosystem players are attempting to address long-standing issues such as productivity and farmer income; on the other hand, new-age Agri-techs are enabling India's agricultural practises to meet global standards on critical issues such as climate change, food security challenges, and the adoption of sustainable agriculture practises. As a result, with the goal of becoming globally competitive, viable, and sustainable, India is embracing new-age technologies and innovation to assist farmers, cut production costs, improve quality, and minimise distressed sales.
Implementing technology-driven solutions, particularly in the post-harvest stages of agriculture, has shown to be long-term and crucial in reinventing the Indian agricultural ecosystem.
Innovating for a difficult future:
Over the last 40 years, the globe has lost over 30% of its arable land to pollution or erosion. When it comes to global food security, India will be solely responsible for nearly 18 percent of the global population by 2050, despite having only 2.4 percent of the total arable land. Increased food inflation, price instability, and a lack of supply chain interventions such as increased public and private expenditures, along with the absence of sustainable solutions and infrastructure, make this job difficult.
The use of digital technology in small and micro-farms will be the ultimate test of their success in India. Most Indian villages will have access to paved roads and dependable power by 2030. One billion Indians are predicted to have internet access, with over half of them using local or regional languages. A significant value addition for AgriTech businesses in this increasing digital footprint is to explore for intersections in Agri value chains to incorporate cutting-edge technologies. They must be able to develop integrated, highly scalable finance and other service solutions that have the support of all stakeholders, including small and large farmers, lenders, purchasers, and politicians. Agritech firms have the potential to accelerate the country's progress toward creating a more resilient agricultural ecosystem; they can also help the country's food security.
In today's Agri-landscape, technology and innovation are essential.
Farmer producer organisations (FPOs) play a significant role in the agricultural environment, aiding farmers in adopting best practises and ensuring that their interests are safeguarded by including them as shareholders in a company-structure type setup. However, managing thousands of farmers in the catchment region while juggling meetings, crop monitoring, seed and other input distribution, and financial arrangements is a big undertaking. By enabling better and faster member management, financial management, and data transparency among all stakeholders, AI, IoT, and innovation will play a critical role in successful and efficient delivery.
Users in the AgriTech value chain can now use their cell phones to get better inputs, engagements, and even marketplaces thanks to current advancements. Advanced mechanisation and precision farming are also becoming more prevalent in crop selection and production planning. Current agricultural solutions include integrated image, spectral, and sensor analytics for on-field quality assaying, as well as tech-enabled margin calls and repayment processes.
The future will be defined by the digitization of food grains and commodities inventory transaction systems and procedures, as well as real-time supply and demand monitoring using AI.