Various Government Initiatives Help The Indian Agritech Industry Revenue to Reach Almost INR 11,000 Cr By 2025; Will The Growth Sustain? Ken Research

 Government initiatives such as upgrading of ~22,000 rural haats into Gramin Agricultural Markets, development of 1000 new FPOs, connecting additional 195,000 villages with paved roads by 2025, are expected to supplement the industry’s growth, as per findings released by Ken Research.

1. Government to set up 1,000 farmer producer organizations, allocates nearly, Rs 7,000 crore.

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For the transformation of agriculture into a sustainable enterprise through farmer producer organizations (FPOs), the central government proposed to form and promote 10,000 new FPOs in the country with budgetary provision of nearly Rs 7,000 crore. Moreover, "Formation and Promotion of Farmer Producer Organizations” launched on February 19, 2020, to promote 10,000 FPOs in the next five years, starting 2019-20, which would help small, marginal and landless farmers to enhance their income. The objective of the scheme is to provide small and marginal farmers "better collective strength for better access to quality input, technology, credit and better marketing access through economies of scale for better realization of income".

2. Pradhan Mantri Fasal Bima Yojana (PMFBY) becomes a lifeline for the prevalent marginal farmers in India.

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There are estimated about 150 Mn farmers in India with almost 85% of them, owning less than two hectares of farmland. A farmer with average land holding of about one hectare earns a gross income of about Rs 100,000 to meet his personal, family, and occupational needs. Taking the poor condition of the marginal farmers Indian government came with the program- Pradhan Mantri Fasal Bima Yojana (PMFBY) to provide a comprehensive insurance cover against failure of the crop thus helping in stabilizing the income of the farmers.

3. Agri-Market Infrastructure Fund (AMIF) with a corpus of Rs. 2000 crore with the National Bank for Agriculture and Rural Development (NABARD) sets the path for the agritech industry to grow.​

Government of India has announced to develop and upgrade existing 22,000 rural haats into Gramin Agricultural Markets (GrAMs). In these GrAMs, physical infrastructure will be strengthened using MGNREGS and other Government Schemes. Further, the Government has announced to set up of an Agri-Market Infrastructure Fund with a corpus of INR 2000 crore for developing and upgrading agricultural marketing infrastructure in the 22000 Gramin Agricultural Markets (GrAMs) and 585 Agricultural Produce Market Committees (APMCs).

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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.

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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?

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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.

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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.