Market Provisioning of Technology-Enabled Agricultural Services In India
Farmers in India, especially smallholders, face a number of challenges that make their income streams low and unreliable. Start-up companies have entered the agriculture sector with a fee-based revenue model alongside leading technology firms like...
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| Format: | Brief |
| Language: | English |
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World Bank, Washington, DC
2020
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| Online Access: | http://documents.worldbank.org/curated/en/451041591191241818/Market-Provisioning-of-Technology-Enabled-Agricultural-Services-In-India http://hdl.handle.net/10986/34714 |
| Summary: | Farmers in India, especially
smallholders, face a number of challenges that make their
income streams low and unreliable. Start-up companies have
entered the agriculture sector with a fee-based revenue
model alongside leading technology firms like Microsoft, IBM
and Google. Armed with technology, data analytics
capabilities and risk capital, these agritech firms provide
a range of services to farmers from input sales and
conventional cropping advisories, to hiring out farm
implements and sales. For farmer collectives and for
institutional buyers, farm Enterprise Resource Planning
software are being used for automation across the value
chain and for traceability. Finally, some forecast weather,
pest and disease attacks and yield and loss estimates,
automate optimal irrigation and provide intelligence on
borrowers' creditworthiness and claims payouts to banks
and insurers. There are around 450 agritech firms in India
today; of these 35 were started in 2018 alone. Venture
capital is rapidly increasing, and total investments jumped
up from US$73 million in 2018 to US$248 million in 2019.
This note explains the services offered by these firms and
provides a perspective on these services based on
experiences in World Bank projects and stakeholder interviews. |
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