Building Agritech for India | Agritech Bluprint

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Slide titled Building agritech for India, Creating value for the future, Blume AgriTech Blueprint July 2024, Ashish Fafadia, Jatin Madhra, BLUME

India’s agricultural sector, a cornerstone of the nation’s economy, is on the brink of a transformative revolution powered by technological innovation and digital solutions. As a global leader in the production of various agricultural commodities, India is poised to leverage its strengths and overcome existing challenges through the rapidly growing agritech industry. By 2035, the sector envisions a future where farmers enjoy significantly increased incomes, enhanced yields, and widespread access to digital technologies and scientific farming practices. This agricultural renaissance is expected to add approximately $115bn to the Indian economy and generate 10 million rural jobs. Key innovations in areas such as precision agriculture, supply chain optimization, and financial inclusivity are set to position India as a global leader in agritech. Through these advancements, the country aims to create a more efficient, sustainable, and prosperous agricultural ecosystem that benefits farmers and consumers alike. In our Agritech Bluprint, we go deep into the intersection of agriculture with technology and the opportunities to build in this sector. 

Resource

India is a global agricultural powerhouse. It is among the largest producers of multiple agricultural commodities and has the second-largest area of agricultural land.

We have noticed a consumer shift towards processed food in both urban and rural households. The expenditure on fruits, vegetables, and dairy products has been largely stagnant, but the share spent on food grains has gone downhill.

Landholding plays a key role in agricultural income — only households with landholdings of over 2 hectares witness positive net incomes and favorable returns.

We visualize the Indian agritech landscape in 13 different segments across the stages of production. While some segments are currently restrictive, others offer significant space and opportunities for exploration and growth.

Indian agriculture is at an inflection point, moving towards Agriculture 4.0, powered through digital technology, with a focus on improving the quality of produce.

Authors

  • Profile photo of Ashish Fafadia

    Ashish Fafadia

    Ashish Fafadia leads the Fintech and Growth portfolios at Blume Ventures, supporting the growth and success of notable portfolio companies such as Slice, Purplle, Turtlemint, Jai Kisan, and Stellapps. He also spearheads fundraising…
    Current Section
    Partner
    Sector
    FinTech, AgriTech
  • Profile photo of Jatin Madhra

    Jatin Madhra

    Jatin Madhra covers FinTech and AgriTech at Blume.Jatin comes to Blume with prior experience in the Fintech, Agritech and blockchain spaces, and is passionate about impacting lives through the startup ecosystem.He is a…
    Current Section
    Associate
    Sector
    FinTech, AgriTech

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