Investment in agritech startups | Changing face of agriculture in India
November 10, 2017
India holds the record for the second-largest agricultural land in the world, with around 60% rural Indian households making their living from agriculture thus creating a huge scope for agritech startups in the country.
Investors are also focusing in agriculture sector in India. Agritech startup are doing quite well but it’ll take time to organize this sector and making it completely digital.
The GDP of agriculture and allied sectors in India was recorded at $244.74 Bn in FY ‘16.
Challenges for farmers
Farmers are the people who work really hard but get nothing as compare to middle men. Most of the agritech startups are focused to connect farmers directly to market so that they can sell their produce independently.
In a bid to double the average farmer’s income by 2022, the Indian government, under the leadership of PM Narendra Modi, is increasingly looking for ways to bolster agricultural production through the integration of latest technologies and innovation. This is chiefly where startups come in.