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Is Agricultural Development in India is Supported by AgriTech Startups and AI in 2022 ?

Agricultural Development in India can be seen as India has broken into the top 10 list of agricultural produce exporters in 2019 with a sizeable share in the export of rice, cotton, soybeans and meat according to a World Trade Organization (WTO) report on world agricultural trade trends.

In todays era technology can change the dynamics of agriculture from top to bottom, with the help data analysis from the data collected at agricultural land. IOT (Internet of things) and AI (Artificial Intelligence) together can provide the best possible service at the farming land. The data analysis can help the farmers to make good decisions in terms of planting, harvesting and other activities. The data collected at the agricultural land will help the farmers to make better use of their crop.

It is a fact that India is a country where agriculture is one of the most important sector. It is also a fact that Indian agriculture faces many challenges on various fronts. One of them being weather related problems which are caused by climate change. But there are some other factors which affect Indian agriculture like poor quality seeds and poor quality fertilizers, chemical farming etc. All these factors can be taken care of by IOT (Internet of Things) and AI (Artificial Intelligence) together in order to provide farmers with better service as well as better results in terms of production and better quality produce for the consumers.

Few applications where Data analysis and AI can help in Agricultural Development in India:

The data that farmers collect at their agricultural land helps them make good decisions in areas such as planting, harvesting and fertilizer application.

 The data collected can also help in the areas of disease management, pest management and other activities.

The data collected can be used to make a better use of their crop which means that farmers will be able to increase their yield. The data collected will also help them in making better use of their resources and it will help them in making better decisions as well, contributing to Agricultural Development in India

This list can go on and on…

Applications of AI in Indian agriculture can fall into three major categories:

agricultural development in india
Farming with AI : Source

1) Crop and Soil Monitoring:

This application of AI can help in monitoring the crop and soil health of the farmer. The data collected can be used to identify any disease affecting the crop or the soil. This application of AI will help farmers in saving their money as they will not have to spend on any expensive diagnostic test.

The data collected can also be used to monitor and manage pests and diseases. The data collected will help farmers in making better decisions regarding pest control, when to apply pesticides, when to use fertilizers etc. This means that farmers will be able to save a lot of money by managing their own resources better and this is definitely a good thing for them as well as for the consumers who are buying the produce from them.

2) Precision Farming:

This application of AI can assist Indian agriculture in growing only those crops which are most suitable for that particular area and climate conditions such as short term weather forecasts, long term weather forecasts, accurate prediction of rainfall etc., which means that Indian agriculture will be able to grow more crops in a shorter period of time.

The data collected can also be used to predict the crop yield which will help farmers in making better decisions regarding the planting and harvesting of their crops. This means that farmers will be able to grow higher quality produce which will have better taste, higher nutritional value and better shelf life as well.

3) Supply Chain Efficiency :

Companies are using data analytics to build a smart supply chain. Uttar Pradesh’s start-up Gabasco has the advantage of cutting-edge technology that uses AI and automated pipelines for real time analysis of this industry.

This system allows for efficient data collection, which leads to better forecasting and more accurate cost analysis. This can help companies perform in a world that is constantly changing according to the demands of consumers. The analytics-driven business model has also helped Gabasco turn itself into a true knowledge economy with access to high levels of information on customers, competitors and suppliers.

List of top 5 Agritech Startups helping in Agricultural Development in India

  • Ninjacart
  • WayCool
  • AgroStar
  • Dehaat
  • Beejak

1) NinjaCart

Ninjacart
NinjaCart

In June 2015, Thirukumaran Nagarajan, Kartheeswaran K K, Ashutosh Vikram and Sharath Loganathan created a B2C hyperlocal food delivery startup called Ninjacart. They started it with $164 million from Tiger Global Management Inc., Accel India Ventures LLC, Qualcomm Ventures Palo Alto Company and Steadview Capital Partners LP. The company was transformed into a B2B agritech startup in order to solve the fresh agricultural produce supply chain problem for farmers and retailers using their fresh fruits/vegetables subscription service model on November 4th 2018.

2) WayCool

WayCool
WayCool

WayCool is a B2B agritech platform that helps farmers to sell their produce through multiple distribution channels. Founded by Karthik Jayaraman and Sanjay Dasari in July 2015, the company has raised $60 million to date.

3) AgroStar

Agrostart
Agrostart

AgroStar is founded by two brothers, Shardul Sheth and Sitanshu Sheth. It has raised over $42 million of funding to date. The company offers the agricultural inputs market on a global level with real-time advice from experts so farmers can be better equipped when it comes to how they manage their crops and improve their yield, as well as staying up-to-date on updates in agriculture.

4) DeHaat

DeHaat
DeHaat

DeHaat’s founder, Shashank Kumar, and co-founder Amrendra Singh started this company to provide agricultural services for farmers. The organization has raised $19.3 million in funding to help Indian farmers by providing affordable prices of inputs like seeds and fertilizers as well as personalized assistance which includes soil testing, weather reports, micro-finance loans and insurance.

5) Bijak

Bijak
Bijak

Bijak was founded by Nikhil Tripathi and four other founders in 2019. It enables traders and wholesalers to discover new suppliers, maintain ledgers, make payments, and access working capital through its app in order to scale their business. Bijak has raised $14 million so far from investors like New Enterprise Associates (NEA), Lightspeed Venture Partners (LSP) и Square Peg Capital.

Click here to read about 9 successful Unicorns in India

If Indian agricultural industry grows in coming years then agritech startups will be responsible for this achievement. This will also drive more youngsters in and that will be the real Agricultural Development in India

Conclusion

Agri-tech was the name of a panel discussion held at the Ford Foundation in New York City on October 13, 2017. The topic of this panel was “The Future Is Here: Technological Advancements in Agriculture.” As you can see from this subject, there is a growing need for technological advancements to help farmers achieve better crop yields and be more productive. For Agricultural Development in India, AI will play an important role here because it will allow these technologies to become more accessible and comfortable for farmers who might otherwise resist newgen tech innovations like drones or agricultural robots entering their fields and will set examples of agricultural development.

Sources: Maximize Market Research

FAQ

  1. What is India’s agriculture export?

    In FY 2021, India exported more agricultural commodities than ever before. This includes grapes ($47 million), pulses ($17.73 million) and dairy products ($12.63 million).

  2. Why is agriculture important for Indian economy?

    As per Economic Survey of India, the agriculture sector is the largest employer of workforce in India, accounting for a sizeable 18.8% (2021-22) of Gross Value Added (GVA).

  3. What is the future of agriculture in India?

    The agriculture sector, valued at US$ 370 billion according to the Economic Survey 2020-21, is one of the major sectors in India’s economy. GDP contribution by this sector is expected to rise from 17.8% recorded in 2019-20 and go as high as 19.9%.

  4. How many agri startups are in India?

    There are about 600-700 agri tech startups in India and they operate at different levels of value chains and contributing to Agricultural Development in India

  5. What is a Agritech startup?

    Agritech startups are businesses that aim at implementing environmentally sound and sustainable farming methods, in order to attain profitability and efficiency..

  6. In which year was the National Bank for Agriculture and Rural Development established in India?

    NABARD’s Enactment Date is
    1981-12-30