Investments in agri-tech start-ups rise sharply to nearly Rs 6,600 cr in 4 yrs till 2020: Report

Investments in agri-tech start-ups significantly grew in four years to nearly Rs 6,600 crore till 2020 on the back of explosive growth potential for companies that address inefficiencies across the agri value chain, according to a report. Indian agriculture has faced some challenges in the past.

However, the sector is entering a new phase where technology and accurate information can systematically address those challenges to a great extent, it said. The report, titled ‘Innovation in India’s Rural Economy: Disruptive Business Models are Stimulating Inclusive Growth in Agriculture and Rural Finance’ from Bain & Company and Confederation of Indian Industry (CII), indicates to this transformation along with the initiatives that can help radically transform Indian agriculture over the next few years.

These initiatives are expanding the participation and role of farmer producer organisations (FPOs) in the rural value chain, expanding post-harvest infrastructure, access to robust data sources for real-time data and decision making and building trust with farmers and making this transformation a cooperative one, it said.

The report also observed that in the past decade, India’s rural ecosystem has evolved significantly with multiple enablers priming this space for future growth.m According to the report, significant domestic and international investments are being pumped into the sector to improve efficiency and access to credit. (PTI)