India holds the record for the second-largest agricultural land in the world, with around 60% rural Indian households making their living from agriculture thus creating a huge scope for agritech startups in the country.
The central and state governments are proactively pursuing policies to improve farmers’ lives in India. In fact, PM Modi’s government has an aim to double the average farmer’s income by 2022. But is enough being done to remove inefficiencies in the agricultural supply chain to make Indian agritech a lucrative investment opportunity?
We, at Inc42, have taken up the onus to promote and spread awareness about agritech in India. To this end, our first step was hosting an AgriTech Investors Roundtable on 25 May 2017 in Delhi. The purpose of the roundtable was to discuss the challenges and opportunity in the Agriculture sector in India and also to launch a report on – The State Of Indian AgriTech – 2017.
The report was launched in the presence of Vikram Gupta, Managing Partner, IvyCap Ventures; Ravinder Singh Saini, Principal Consultant of National Productivity Council; Adhir Jha, MD and CEO India Sugar Exim Corporation (ISEC); Ritu Verma, co-founder and Managing Director, Ankur Capital; Hemendra Mathur, Venture Partner, Bharat Innovations Fund; Akash Rukhaiyar, an ex-CFO and investor and Shamit Ghosh.