Budget 2023: Agritech Industry demands stable export policy, increased digitisation
1 year, 11 months ago

Budget 2023: Agritech Industry demands stable export policy, increased digitisation

India TV News  

Union Budget on Agriculture: Agriculture has been a fast-growing sector for ages now, but the hurdles in between are inhibiting further growth of this industry. The aim for digital India propels the country to incorporate tech in agriculture - a way to take the sector to new heights. Managing Partner at Omnivore, an agri-focused venture capital firm, Mark Kahn, says that the price fluctuations in agri-products hinders India to halt exports, which affects the nation to be a dominator in the export race. Ans) As India is going fully digital, the need for inclusion of tech in the agri sector makes a huge difference to the nation as well as the farmers. Ans) India witnessed a spike in agritech startups for the last five years.

India Agriculture Tech Budget Startups Sector Agritech Increased Digitisation  sector  demands  agriculture  india  agritech  budget  startups  2023  stable  tech  tonnes  digital  2022  policy  export  increased  digitisation  industry

History of this topic

Agritech sector to create 60-80K new job opportunities in next 5 years
2 weeks ago

Agritech sector to create 60-80K new job opportunities in next 5 years

Live Mint  

Mumbai, Jan 1 The agri-tech sector is expected to create 60,000-80,000 new employment opportunities over the next five years, a senior executive of TeamLease Services said. Agritech addresses every aspect of farming, from water irrigation advancements for seeds, fertilisers, and pesticides to offering access to advanced farm machinery and market linkages for selling produce, TeamLease Services Chief Strategy Officer Subburathinam …

Agri-entrepreneurship scheme faces lukewarm response despite rural growth
2 weeks, 5 days ago

Agri-entrepreneurship scheme faces lukewarm response despite rural growth

Live Mint  

New Delhi: The agriculture ministry's scheme to promote entrepreneurship is receiving a lukewarm response, despite a better monsoon and improvements in the rural economy. According to data from the agriculture ministry, analysed by Mint, only 35 ventures have been established under the Agri-Clinics and Agri-Business Centres scheme in the current fiscal year. In fiscal year 2024-25, only 35 ventures were …

Public procurements may come with startup quotas
1 month, 1 week ago

Public procurements may come with startup quotas

Live Mint  

Top central ministries are discussing a proposal that may mandate public sector units to purchase 10% of their requirements from startups, two people aware of the development said. Some of India's ongoing efforts to encourage startups sector include the Startup India seed fund initiative and Atal Innovation Mission. This initiative not only provides a platform for startups to showcase innovative …

Agritech firms turn to private labels to improve revenue, margins
6 months, 1 week ago

Agritech firms turn to private labels to improve revenue, margins

Live Mint  

Agritech companies are increasingly banking on private labels to steer growth as the sector faces challenges in scaling up and a drop in investments. Venture capital funding for Indian agritech and food tech startups dropped 33% to $2.4 billion in 2022, according to the AgriFoodTech Investment report by AgFunder and Omnivore last year. “On the B2B side, private labels can …

The long wait for India’s first agritech unicorn
11 months, 1 week ago

The long wait for India’s first agritech unicorn

Live Mint  

New Delhi: In June 2021, a searing post on LinkedIn, the professional networking site, generated some heat and many reactions. Another brief by venture capital firms AgFunder and Omnivore, published last year, observed that 2023 was a stress test for startups, offering “ideal vintage for venture capitalists who can enter promising deals at cheap valuations". Easy money After the covid …

How Indian startups are contributing to India’s $5 trillion economy goal?
1 year, 3 months ago

How Indian startups are contributing to India’s $5 trillion economy goal?

Live Mint  

Indian startups have witnessed remarkable growth in recent years, with the country emerging as the third-largest ecosystem for ventures globally. In 2022, Indian startups attracted a whopping $42 billion in funding, a substantial leap from the previous year's $16 billion which underscores their pivotal role in India's aspiration to achieve a $5 trillion economy goal. India will soon become a …

Strengthening the technology ecosystem for agriculture in India | OPINION
3 years ago

Strengthening the technology ecosystem for agriculture in India | OPINION

India Today  

Fasal is an agri startup that has helped farmer Sangarmesh Talikotti to install sensors and cameras in his 2.5-acre tomato farm. The ‘Digital India Initiative’ aims at widespread adoption of technology through digital platforms, analytics, artificial intelligence, block chain, machine learning, Software as a Service and IoT. The areas of ‘idea’ incubation are as diverse as farm inputs, precision agriculture, …

How big tech is helping agritech startups and farming community
4 years, 7 months ago

How big tech is helping agritech startups and farming community

Live Mint  

NEW DELHI: The farming community in India is increasingly turning to agritech solutions after disruptions in traditional supply chains due to the covid-19 induced lockdown. Some agritech startups are also helping farmers monitor crop and soil health using IoT sensors, while some are using AI to forecast the best time to sow seeds. Microsoft has announced a programme through which …

Needed: Agritech startups to transform agriculture in India
5 years, 8 months ago

Needed: Agritech startups to transform agriculture in India

Live Mint  

India’s agriculture sector contributes a mere 17% to the country’s gross domestic product, though nearly 60% of rural households are engaged in agriculture and allied industries. New-age methods of agriculture management, coupled with technology, have improved agricultural practices and productivity, but much of the sector still lags when it comes to modernization. However, in various parts of the country, farmers …

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