Technology has proved to be a boon for industries across the board, including agriculture. Agritech– the term to define the use of technology to improve agricultural yield and evolve farming practices, has picked up massive growth in the past decade.
Cattle farming has been integral to Indian farmers’ way of life since centuries. India has a 300 million + population of cattle (thrice that of China or US), which contributes to a thriving contribution of 23% of global milk production. With an annual growth rate of 18%, the dairy industry is expected to touch a market size $314 billion in 2023. However we need to improve our productivity further.
Agritech can significantly raise the contribution of agriculture and allied sectors in the economy by introducing innovative methods, and consequently open up an entirely new avenue for large-scale employment. As the industry continues to expand, it will create numerous high-quality job opportunities across a variety of fields ranging from research & development to sales & marketing.
In India, the Agritech sector has seen a flurry of activity in recent years. In 2022, Startups such as Apna Godaam, Moofarm, BharatAgri, and Aibono, are using technology to help farmers improve their productivity and increase their income by providing access to quality inputs, real-time market information and financial services.
The government is contributing its fair share of integrating technology into the agricultural sector by way of digitizing mandis through the eNAM portal, promoting the processed food sectors through dedicated food parks in SEZs, encouraging investment in Agritech companies using AI, ML, and other modern technologies through the National e-Governance Plan in Agriculture (NeGP-A), and several other initiatives.