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Agritech during COVID-19: Has it lived up to the hype?

The Indian agtech sector is registering fast-track growth in the ongoing pandemic thanks to the supportive reforms and initiatives announced by the government coupled with growing digital access to the farmers. Interestingly, agriculture in India fared really well despite a brief disruption of supply chain and labour shortage faced during the lockdown. After the initial setback, the agtech sector stabilised and churn volume-based business. Despite the ongoing pandemic, agtech businesses are playing a crucial role by bringing innovation backed by technology, and solving critical challenges that are hampering the growth of the farming community. Agtech firms in India are using IoT to monitor crops, weather, and soil quality, which in turn will boost quality yield while others are making use of emergent technologies to improve farm to fork linkages, connect with buyers across different markets, automate and streamline supply chains and build platforms for instant cash settlements. Farmers are now being empowered in terms of access to information, inputs and financial support. All this proves the agtech sector’s promising growth and will play a significant role in its contribution towards the national economy. Even the Indian government has proffered its full support and determined to take agriculture to new heights. With India ranking second globally in agricultural production, agtech companies will play a vital role in supporting the agriculture eco-system via maximising productivity, help grow exports to $100 billion and double income of farmers by 2022. This sector will see an upward growth trend, and it’s safe to conclude that agtech firms have lived up to its hype.

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