\u201cA positive mindset and a \u2018can do\u2019 spirit is now pervading the country,\u201d Prime Minister (PM) Narendra Modi said while referring to Indian startups and the startup ecosystem in the country.\r\n\r\nPM Modi was speaking to about 41 top business leaders in India\u00a0at the third annual meeting of the Asian Infrastructure Investment Bank (AIIB). During the meeting, he urged the corporate sector to invest in a \u2018big way\u2019, especially in the agriculture sector, which provides a livelihood to over 58% of the rural households in India.\r\n\r\nLast month, while speaking at a convocation ceremony at a Jammu university, Modi had said that one of the problems plaguing the agricultural sector was, \u201cthe bad quality of seed, fertilisers and medicines\u201d being supplied to the farmers, which ultimately leads to low production and hampers their income.\r\n\r\nWhile interacting with farmers via video conference earlier,\u00a0Modi had said that the government was emphasising on four aspects\u00a0\u2014 reducing the cost of raw materials supplied to farmers, providing them with the right cost for produce, stopping produce from being wasted, and increasing their income.\r\n\r\nModi believes that\u00a0the youths of the country have an active role to play in the use of technology in promoting the sector. He\u00a0also advocated the use artificial intelligence (AI) and blockchain technologies in agriculture,\u00a0encouraging startups to work on more tech solutions for the sector.\r\n\r\n\u201cTechnology can bring in transparency in the agricultural trade \u2014 starting from the production process to making it available for the farmers, as products can be examined at every stage,\u201d he had said at the convocation ceremony.\r\n\r\nMeanwhile, there are many investors active in the agritech space. Among them are the\u00a0Rairah Corporation, Omnivore Partners, FVCCL, IDG Venture, Accel Partners, Aspada Investments, IvyCap Ventures, Unitus Seed Fund, Rabo Equity Advisors, SAIF Partners, Villgro Innovations Foundation, Qualcomm Ventures, and IDFC.\r\n\r\nAccording to an\u00a0Inc42 DataLabs report, around $36 Mn was invested in 15 agritech startups in 2017. Inc42\u00a0also listed the top agritech startups in the country as part of its\u00a0Startup Watchlist\u00a0series.\u00a0The names included Crofarm, Aarav Unmanned Systems, Aibono, CropIn, Gold Farm, among others.\r\n\r\nAn IBEF report suggested that the country\u2019s Gross Value Added (GVA) from the sector is estimated to have grown at 3% in FY18.\u00a0 India has a huge potential to produce all kinds of organic products due to its specific agro-climatic conditions.\r\n\r\nAt the AIIB meet, Modi also touched upon other areas such as medical devices, electronics, and defence equipment. An elaborate two-hour discussion was also said to be held on the industry's contribution to economic growth and development.