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AGRICULTURE

The agtech industry is booming, with plenty of room for expansion

by Shailee Mishra

Date & Time: May 01, 2022 11:00 PM

Read Time: 2 minute



The agri-technology sector in India is seeing unprecedented expansion. This tectonic acceleration has positioned agtech as one of India's rising sectors, driven by increased market demand, a year-on-year investment surge, and quick integration of new-age technology.

The deployment of novel deep-tech solutions to overcome persistent legacy issues that stymie growth across the food value chain is transforming the post-harvest environment in particular. The agtech sector's energizing action is drawing a wide range of enterprises and bright people to take advantage of its burgeoning growth potential.

Technology solutions are in high demand

The burgeoning agtech sector is set to handle the difficulties that significantly impact agri-food value chains in the era of agriculture 4.0. Agtech companies have developed successful market linkages that have enhanced agricultural output and maximized productivity for agribusinesses by integrating new-age technology

This has boosted market demand for agtech services and solutions, as well as piqued the interest of major domestic and foreign investors in the sector.

Investments are increasing

According to some projections, the agtech industry will get $30-35 billion in investment by 2025. With so many hopes and expectations set on agtech, India now has over 600+ agtech start-ups thriving, and the number is growing every day.

According to some projections, the agtech industry will get $30-35 billion in investment by 2025.

With so many hopes and expectations set on agtech, India now has over 600+ agtech start-ups thriving, and the number is growing every day.

By establishing digital frameworks, categorising and eliminating obstacles, and rewriting the tale of agriculture with data, these new enterprises are setting the groundwork for the future of agriculture.

Creating a path to employment

Agriculture has traditionally employed a large section of Indian labor. However, agriculture's percentage of rural employment has dropped over time, while the IT sector has emerged as one of India's largest employers. With the emergence of the agtech sector, we now have the potential to close this gap by creating possibilities for India's burgeoning tech talent to participate in the unfolding agricultural revolution.

Also Read: AGRICULTURE: हाइड्रोपोनिक खेती लाएगा कृषि के क्षेत्र में क्रांति, कैसी होगी बिना मिट्टी के खेती की अनोखी तकनीक


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