SECURING FARMERS WITH TECHNOLOGY: HOW AGRITECH CAN BE A SOLUTION TO FARMERS' PRODUCE-RELATED WOES

Contributing about 15 percent to India’s GDP, the agricultural sector sustains almost half the population of the country.

- Amith Agarwal

Interestingly, more than 265 million people in India are engaged in farming, which also makes it one of the largest employers in the country. More than 70 percent of rural India is employed in this space, running their daily expenses with income generated through agriculture. However, there are some significant challenges that the small farm-owner community faces in their day-to-day operations. These hinder the growth of farmers’ income and keeps the sector from flourishing to its full potential.

To begin with, farmers in our country do not get the deserving returns on their produce. The reason?

The presence of intermediaries and the high price of carrying out physical transactions in the local mandi. It leaves farmers with fewer returns. While this remains a major concern for this sector, many more challenges go unacknowledged.

In a bid to address these challenges, the government has, fortunately, taken several laudable initiatives over the past few years. Pradhan Mantri FasalBima Yojana (PMFBY), Pradhan Mantri Krishi Sinchai Yojana (PMKSY), E-NAM, and Soil Health Management (SHM), among others, are some of the top schemes that came as a significant relief to the farming sector. However, the sector yet calls for more attention. It is where agri-tech startups come to the picture.

How can startups address the farming challenges using technology?