Showing posts with label Agtech Sector Outlook India. Show all posts
Showing posts with label Agtech Sector Outlook India. Show all posts

Tuesday, May 9, 2023

Diffusion of technology and rising government initiatives will enable the Agri-tech market to reach INR ~11,000 Cr by 2025 in India: Ken Research

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The Agricultural sector of India is undergoing a catalytic transformation. The industry is imbibing and adopting innovative technologies to improve the efficacies of farming operations, thereby enhancing yield. This has led the Agri-tech industry in India to grow at ~85% growth rate and the market is poised to reach ~11,000 Cr by the next five years.

1. The India Agri-tech market is flourishing with double-digit growth owing to the rapid increase in the number of Agri-tech startups with ~47% CAGR from 2014 to 2020

Agtech Sector Outlook India

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A number of Agri-tech startups in India have witnessed a sharp spike from ~59 in 2014 to ~600-700 by the end of 2020, growing at a CAGR of over ~47.0%. ~75% of agritech startups have incepted post-2013, with 2015 and 2016 witnessing the emergence of a maximum number of players. The adoption of agri-tech solutions among farmers and farmer organizations continues to be low and startups experience long gestation periods to develop trust in the community. Presently, around 8 Indian states including Delhi, Haryana, Tamil Nadu, etc., are each home to at least 25 agritech startups. Maharashtra and Karnataka together account for ~50% of the agritech startups in India. Many startups have even pivoted to B2B from B2C models in the last 5 years due to operation intensive nature of B2C models despite higher margins.

2. Rising number of start-ups has driven over 1 billion USD in investments in the agri-tech market in India in the last five years

Agtech Sector Outlook India

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India has registered an impressive number of funding for agritech start-ups till 2021. Dehaat raised $30 mn in a Series C financing round led by Prosus Venture in January 2021. The company plans to utilize the latest round of funding for expanding operations in Madhya Pradesh and Rajasthan. Agri financial solutions provider, Sammunati raised INR 89.6 crores ($12 mn) in January 2021 via debt from two financial inclusion funds, FMO-Entrepreneurial Bank and Triodos Investment Management. Cropin raised $20 Mn in a Series C funding round led by Singapore-based PE firm, ABC World Asia. The company aims to use the latest funding for global expansion & driving the European market.

3. The government is actively taking several initiatives to improve the Agricultural Infrastructure and boost the Agri-tech market to reach over INR 11, 000 Cr. in India

Agtech Sector Outlook India

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The Government of India has been increasingly adapting to the innovations and changes in the agricultural sector to keep up with the pace at which the sector is developing globally. Here, infrastructural development plays a major role in building a robust Agri-tech sector. The Agriculture Infrastructure Fund (AIF) is a part of the nation’s agriculture fund and has supported more than 18,321 projects totaling INR 13,681 crore. In addition to this, 8,076 warehouses, 2,788 primary processing units, 1,860 custom hiring centers, 937 sorting and grading projects, 696 cold store projects, 163 assaying projects, and approximately 3613 other post-harvest management initiatives and community farming assets, and cold storage projects were established under the fund.

Monday, May 8, 2023

3 Catalysts That Helped the Indian Agritech Industry to Witness a Growth of More Than 80% from 2019 to 2020; Will the Growth Sustain? : Ken Research

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Indian Agri-tech industry revenue to reach more than INR 11,000 Cr by 2025 and witness a CAGR of 32.0% during 2020-2025., as per findings released by Ken Research.

1. Strong Already Existing Infrastructure Sets the Path for The Agritech Market Revenue to Reach Almost INR 11,000 Cr By 2025.

India Agritech Market

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Agriculture industry in India has been growing over the years but has experienced volatility and fluctuation. The market growth is dependent on various factors such as climatic conditions, productivity of the crop, weed management, pest and disease management. Satisfactory monsoon season in 2017 led to high growth in agriculture produce. Moreover, almost 285 new irrigation projects were undertaken in 2018 to provide irrigation for more than 16 Mn hectares of land.

2. Rising Number of Agritech Startups has been Playing Major Role in the Boom in the Agritech Industry in India; How These Startups Would Shape the Agricultural Setup in the Country?

India Agritech Market

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Number of Agri-tech startups in India have witnessed a sharp spike from almost 60 in 2014 to ranging 600-700 by the end of 2020, growing at a CAGR of over 47.0%. Nearly, 75% Agri-tech startups have incepted post-2013, with 2015 and 2016 witnessing the emergence of maximum number of players. Moreover, the adoption of Agri-tech solutions among farmers and farmer organizations continues to be low and startups experience long gestation period to develop trust amongst the community. In addition, total 8 Indian states including Delhi, Haryana, Tamil Nadu, etc, are each home to at least 25 Agri-tech startups. Maharashtra and Karnataka together account for almost 50% of the Agri-tech startups in India.

3.  Other Government Policy Support to Improve Agri Export Volumes from India from almost USD 35 Bn by 2020.

India Agritech Market

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  • The Agriculture Export Policy, 2018 was approved by Government of India in December 2018. The new policy aims to increase India’s agricultural exports to almost 100 bn in the next few years with a stable trade policy regime.
  • The GoI has come out with the Transport & Marketing Assistance (TMA) scheme to provide financial assistance for transport & marketing of agriculture products in order to boost exports.
  • The agriculture reform laws announced by the govt. in 2020 also aim to increase Agri exports by allowing farmers to directly trade with exporters & by exemption exporters from stock limits.