With the passage of seven decades since independence, the early Green Revolution of the 1960s by Swaminathan, and Atma Nirbhar Bharat of the Modi Government, India has seen a lot of growth in the agriculture sector. So much so that World Bank estimates put forth that 41% of the country is employed directly or indirectly in this sector. Because of this, agriculture has contributed over 19.9% to the country’s GDP past couple of years.
As the country continues its transition into a digital age, the economy is changing, too. From net banking to grocery business sites, e-transport sites, and even entertainment such as web TV shows, lottery, and Betway, the way we interact with the world around us is being revolutionized. Because of this digitization, money has become digital and so are services. The agricultural sector which heavily influences the country’s economy is also getting a facelift in the coming future. Therefore, it is more important than ever to realize this.
India Is Hoping to Make Drastic Changes
By early 2025, the country is hoping to digitize the entire agricultural sector and agri-tech industry with several key implementations already on the way. For example, in September of 2021, Digital Agricultural Mission 2021-2025 began and as a part of this 5-year plan, MoUs have been signed. It has resulted in a few notable actions.
- Cisco, ITC, Jio, etc. have begun working on some pilot projects and their implementations in partnership with the government.
- NeML (National e-markets Limited) and NCDEX (National Commodity and Derivatives Exchange) will facilitate this goal with blockchain and AI technologies.
- NITI Ayog, which is the public body, will work with IBM in developing better crop production forecasting models with AI.
- A better forecast of diseases, soil quality, and remedies will help improve our agricultural exports even higher than in past years.
- A new platform called Jio Agri is on the way which is trying to digitize the agri-tech ecosystem as a convenient service to farmers to take advantage of these AI models and data.
Microsoft and SenseAgri
That is not all because the country’s economic development is also going to grow with the involvement of Microsoft. With their recent announcement, they are partnering with Unified Farmers Service Interface or USFI to create a one-of-a-kind platform to increase their effective income and monitor the prices, inflation, etc through AI.
This is being spearheaded by India’s institutions too. A combined force of six institutes is collaborating with the government’s own SENSEAGRI or Sensro-based Smart Agriculture that focuses on using drones for collecting hyperspectral images of soil, farmlands, and other valuable information that can directly affect crop health and production. SenseAgri can become a farmer’s best friend in dire times.
Summary
Thus, the overall future forecast for the effect of agri-tech on India’s economy cannot be exaggerated. The involvement of several big brands and a collective force of the government under Narendra Modi are striving to bring even more ambitious pilot projects in upcoming years. Because of these growing collaborations, the agriculture sector will surely contribute even more to the GDP in the upcoming years.
