#News(AgriTech) [ via IoTForIndiaGroup ]
Since its green revolution of the late 1960s, India has made great strides towards achieving food self-sufficiency by leveraging better technologies and agricultural methods. However, Indian farmers still face serious challenges, including a lack of better price realization, market information and knowledge, weak market linkages for their produce and inefficient supply chains. Realizing the urgent need to address these opportunities, the Prime Minister of India, Narendra Modi, has shared his vision for doubling farmers’ income by 2022.
Technological innovations, especially emerging technologies driven by the Fourth Industrial Revolution, possess tremendous potential to meet Prime Minister Modi’s target. McKinsey estimates that technology-based applications and services in Indian agriculture can help unlock between $45 billion and $80 billion of economic impact and help 90 million farmers earn higher incomes. However, as the recent World Economic Forum Innovation with a Purpose report has shown, the food sector has been slow to harness the potential of disruptive technologies.
In spite of this, technological disruption is occurring in Indian agriculture. Innovative start-ups are disrupting existing models to not only improve smallholder farmers’ income, but to provide positive environmental and nutritional benefits.
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