The following are some of the major challenges farmers in India face: Indian farmers face a number of challenges that hinder their productivity and income. The agritech startups ecosystem in India is poised to grow significantly in the near future as a result of increasing investment, government support, and technological advancements. The emergence of startups is a promising trend that has the potential to transform the agriculture sector and enhance farmers’ livelihoods. Aatmanirbhar Bharat Abhiyan, launched in 2020, promotes self-reliance and entrepreneurship in India, especially in agriculture and allied sectors. There has been a rapid growth in the startup economy in India since 2016 with businesses sprouting up throughout the country (See graphic). As of 2022, approximately 19,000 startups had been recognized by the department for promotion of industry and internal trade (DPIIT). The government established the Startup India programme in 2016 to provide a conducive environment for startups in India and offer funding, mentorship, and other resources. READ I Indian economy: RBI confident in the face of global crisis, but concerns remain Agri startups have also been recognised as having great potential by the Indian government, and several initiatives have been launched to assist them in achieving their goals. A growing number of startups are focusing on leveraging technologies such as artificial intelligence, the Internet of Things, and blockchain in the agriculture sector in order to transform it. To address the challenges faced by agriculture and to improve the farmers’ livelihoods, agricultural startups rely on technology, innovation, financial support, training, and entrepreneurial spirit.Īccording to a recent report by Nasscom, the Indian agri-tech market is expected to reach $24.1 billion by 2025 at a CAGR of 25%. These startups provide innovative solutions to precision farming, farm management, supply chain management, and agri-finance. This has led to low profitability for farmers and a lack of interest among young entrepreneurs.Īs a result of the emergence of agritech startups, agriculture in India has undergone a dramatic change in recent years. India’s agricultural sector faces several challenges including low productivity, fragmented landholdings, limited access to technology, and inadequate market infrastructure.

Agritech startups can boost farmers' incomes by providing innovative solutions to precision farming, farm management, supply chain management, and finance.Īgriculture accounts for about 18% India’s GDP and provides employment to around 58% of the population.

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