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AgriTech is a word which is a combination of Agriculture and Technology. Now it is easier to understand AgriTech isn’t it, after breaking it up like this? AgriTech, as the name suggests, uses various technologies to increase agriculture, horticulture, and aquaculture production. The major turning point for the development of different agriculture technologies is the Industrial Revolution.
Involving technology in agriculture, aquaculture and horticulture are AgriTech. The aim of combining technology with these agriculture and associated practices have the same purpose; increasing yield, profitability, and efficiency. AgriTech can be services, products or applications extracted from agriculture to improve various input and output processes.
The various types of technologies and applications used in AgriTech are the following;
Let’s see what are the various technologies used in AgriTech or Agricultural Technologies;
Below given is the list of top six AgriTech Startups in India:
Also, Read: Aspire Scheme For Rural Area Entrepreneurship
The government of our country has given much emphasis on commercializing the Indian agriculture sector. Given below are some of the programs and schemes that were launched for the agriculture sector in India:
According to a report by the “McKinsey Global Institute” the scope for AgriTech growth are listed below;
India is among the top six countries with the highest number of deals in agriculture technologies. In the year 2016, the Indian AgriTech Startups contributed around 9% in the global investments with the net value of 313 USD.
The graph below shows the number of Agri startups from the year 2013-2017:
And the funding pattern for the Agri Startups from 2013-17 based on the state of a startup is as shown below;
Moreover, in consonance with the Government of India, the Media Today Group is holding the AgriTech India 2019: International Exhibition on Agriculture, Agri Processing Technologies, and Farm Machineries in Bangalore International Exhibition Center {BIEC}, India from 30th August-1st September 2019. The objective of the AgriTech India 2019[1] exhibition is to educate growers, importers, exporters, wholesalers, and other stakeholders of various segments of the Agriculture sector, for expanding and diversifying their business practices.
The exhibition will be an ideal platform for business traders to display their latest technologies, products and other innovations under one roof. Also, it provides opportunities to numerous AgriTech Innovation industries to launch their products and services in front of thousands of farmers and agro entrepreneurs visiting this Expo.
The following are the key areas of concern for Indian agricultural landscape;
India is the world’s sixth-largest contributor to agricultural retail sales up to 65 to 70%. It was expected that by 2017-18, the food grain production to touch 277.49 million tones. The total Rabi crop cultivation area has reached 64.29 million hectares in 2018. The export of agricultural products constitutes 10% of the total exports from our country. The agricultural exports from our country reached USD 28.09 billion during the period from April 2017- January 2018 with the export of Basmati rice.
State-wise Percentage of Agri startups in terms of numbers is shown below:
AgriTech industries have a high scope of growth especially in our country like our country. India has one of the most cultivated lands which can produce an enormous amount of agricultural produce if cultivated and managed properly. Indian climate and diverse geographical landscapes provide a high scope of agriculture and associated sectors.
Introducing AgriTech Innovation in Traditional agricultural practices can help farmers increase efficiency, productivity, efficiently use small spaces for growing large amounts of crop produce like in vertical farming. Also, it can decrease the wastage of water and food products due to inadequate storage systems.
Tanya is working as writer & editor from past 2 years with experience in covering startup and technology related topics.
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