The rural economy must be supported at various levels through the integration of digitization. In this episode, we will focus on how agri-tech is quickly transforming the agricultural sector.
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Emerging agri-tech companies are well-equipped to address the inadequacies of the agricultural sector. Farmers and landowners have begun to realize how agri-tech companies can help them increase productivity through technology and innovation.
The majority of the Indian population depends on agriculture directly or indirectly. Integrating the sector with the latest innovation and technology can help the sector become stronger than ever before, which in turn would prove highly beneficial for the Indian economy.
An article on the Times of India mentions the following:
“In India, nearly 86.2 percent of all Indian farmers are small and marginal farmers who still rely on conventional, unscientific methods of farming. The agritech players here not only opened new channels of capital but also improved yield through data, real-time crop monitoring, insights, digitisation, crop and soil health, weather forecasts for better strategies ultimately resulting in increased profits and lesser wastages.”
Let us look at the role agri-tech start-ups can play.
One: Factory to farm
One of the benefits of agri-tech is providing agri-inputs through the phygital model. A farmer or a landowner can source animal feed, seeds, fertilizers, and agrochemicals directly from the manufacturers.
The Times of India Article mentions the following:
“The advent of agritech solutions made transactions more transparent and completely eliminated the middlemen who exploited the farmers and led to excess inventory, causing huge losses. The transparency and efficiency helped farmers to sell their products at competitive prices online and also allowed them to know the exact demand that existed in the market…”
Two: Precision agriculture and farm management
One area where agro-tech companies have proved to be of great benefit is precision agriculture and farm management. Information technology is used to assist farmers in understanding what the soil and the crops need. We will explore precision agriculture and farm management in great detail in another episode.
Three: Farm to fork
Another area that has made agri-tech a winner is that they have managed to eliminate the middlemen. Farmers and landowners can connect to retailers, service providers, and restaurants directly.
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