India Agritech Market 2023-2030

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    The Indian agriculture sector contributes nearly 18 percent of the gross domestic product (GDP) and 40 % of the total rural Net Domestic Product (NDP). Despite its significant contribution to driving socio-economic growth, Indian agriculture still faces a number of challenges. These range from issues such as low productivity to climate change, and lack of access to finance.


    A majority of Indian farmers are small landholders who rely on traditional resource-intensive farming techniques. They have limited access to modern machinery, logistics and storage facilities, and information such as data on weather patterns, soil health, and protection of crops.


    The agriculture sector in India is expected to generate better momentum in the next few years due to increased investment in agricultural infrastructure such as irrigation facilities, warehousing, and cold storage.


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    Furthermore, the growing use of genetically modified crops will likely improve the yield for Indian farmers. India is expected to be self-sufficient in pulses in the coming few years due to concerted effort of scientists to get early maturing varieties of pulses and the increase in minimum support price.


    To have an increased level of production within the nation as part of fulfilling the required population proportional gain, it is important to provision various methodologies and advancements into action. These Technologies of importance include the Agritech or also known as Agricultural Technology which focuses mainly upon Crop productivity and proportionality analysis by integration of various modules in its growth.


    Agricultural technologies are developed to increase production, resolve chemo-physical, biological, and socioeconomic constraints related to crop production systems. During the past three decades, there has been an increasing realization that technologies need to be tailored to the circumstances of farmers as well as to future sustainability goals including climate change projections.




    Sr. No. Timeline Company Updates
    1 December 2021 Samunnati Foundation and IITMIC IIT Madras Incubation Cell (IITMIC) collaborated with Samunnati Foundation to encourage innovative technologies in agriculture and allied areas in India. The two organizations signed an MoU to promote agritech startups to improve farmer incomes, reduce waste and encourage sustainable agriculture.
    2 July 2021 Social Alpha and Cisco India CSR Social Alpha and Cisco India CSR partnered to launch Krishi Mangal—an initiative to bring together the power of innovation, entrepreneurship, and communities for the wellbeing and prosperity of smallholder farmers.
    3 June 2021 Boheco BOHECO- Bombay Hemp Company joined hands with Spring Sciences Australia Pvt. Ltd. (SSA) for the exclusive supply of the BOHECO range of hemp and cannabis-derived products to the Australian B2B market.
    4 July 2020 Agribazaar Agribazaar signed a pact with state-owned Central Warehousing Corporation (CWC) to provide e-auction and sales facilitation services for the agri-commodities stored at its warehouses across the countries.
    5 March 2020 Agribazaar German drug and agrochemicals major Bayer partnered with Agribazaar for its ‘Better Life Farming’ projects in India.


    Multiple structural challenges are inhibiting Indian agriculture sector from reaching its full potential. Yields on crops such as cereals are lower in India by 50% compared to countries such as the US or China.


    Presence of numerous intermediaries throughout the value chain contributes to a reduction in farmers’ income. Limited access to technology, credit and marketplaces are some of the other challenges that India’s agriculture sector is grappling with.


    It is imperative to recognize that small and marginal farmers constitute the lion’s share of India’s farm holdings (86%). As a result, solutions to challenges in Indian agriculture need to be inclusive of the needs of these small and marginal farmers.


    Agritech market opportunity is spread across multiple segments, therefore, assessing the market potential for each segment is critical to understand the headroom left for growth in this sector.


    A bottom-up approach has been used across each segment to first estimate the size as well as growth of the underlying market (e.g., agricultural output is the underlying market for “Supply chain tech and output market linkages” segment).


    Constraints such as relevance of the corresponding segment towards serving the needs of small and marginal farmers are used to further estimate the addressable market potential for the segments.


    Optimization of agricultural practices for enhanced crop yield is considered to be essential phenomena for countries like India. In order to strengthen the economy and also to meet the food demand for the exponentially growing population, optimizing agricultural practices has become a necessity.


    In India, weather and geographical conditions are highly variable and were thought to be the major bottleneck of agricultural practices to achieve improved crop yield.


    Economic  loss  due  to  the  lack  of  information  on  crop  yield productivity is  another major concern in the country. These hurdles can be overcome  by  the  implementation  of  advanced  technology  in  agriculture.


    Some of  the trends observed are  smart farming, digital agriculture and  Big Data  Analytics  which  provide  useful  information  regarding  various  crop yields, influencing factors and predicting the accurate amounts of crop yield.


    Some of the important advanced agricultural techniques which can transform Indian Agriculture are as follows: Biotechnology: This is a technique which helps the farmers produce more in lesser areas by use of advanced agricultural systems. This technique is also environment friendly and helps in increasing food production by the use of plant and animal wastes/residues.


    The  exact  prediction  of  crop  yield  helps  farmers  to  develop  a  suitable cultivation plan,  crop health monitoring system, management of crop yield efficiently and  also to  establish the business strategy in  order to decrease economic  losses.  This  also  makes  the  agricultural  practices one  of  the  highly  profitable  ventures. 


    This  paper  presents  insights  on  the  various applications  of  technology  advancements  in  agriculture  such  as  Digital Agriculture, Smart Farming, or Internet of Agriculture Technology (IoAT), Crop Management, Weed and Pest control, Crop protection and Big data analytics.



    The Indian Market of Agricultural Technology can be segmented into following categories for further analysis.


    By Product Technology Type

    • Direct Product Based Application
    • Motor Vehicle Based Application
    • Digitised Application
    • Solvent / Water Based Application


    By Vehicular Usage Type

    • Drone Based Vehicle
    • Light Commercial Based Vehicles
    • Agricultural tractor Based
    • Heavy Commercial Vehicles Based


    By Flow Chain Integration Type

    • Production Stage Application
    • Supply Chain and Transportation
    • Yielding and Surveillance


    By Integration Visibility Area

    • Physical Technology
    • Artificial intelligence Technology
    • Nano Based Technologies
    • Detection Based Technologies
    • Geological Assessment based Technologies


    By Regional Classification

    • Northern Region
    • North Eastern Region
    • North Western Region
    • Central Region
    • Southern Region
    • South East Region
    • South Western Region




    Sr. No. Timeline Company Updates
    1 December 2021 AgriBazaar AgriBazaar becomes the first online agri-trading platform to have its in-house virtual payment solution – agripay to provide additional security and enhanced convenience to users (buyers and sellers) while transacting on the platform.
    2 July 2021 Dhanuka Dhanuka digitally launched ONEKIL, a 9(3) molecule that is a complete solution for weed-free Onion crop, for onion growers.
    3 April 2021 Boheco Bombay Hemp Company’s brand BOHECO Life launched its flagship first-of-its-kind health and wellness store-come-clinic in collaboration with Bangalore distributor Danes Medical Solutions, with MD, Karan Adpangaya. The products available at the store will comprise of BOHECO Life and its partner brands products – Rx and OTC.
    4 June 2020 Crofarm Crofarm entered the business-to-business-to-consumer (B2B2C) space by launching a community-based platform Otipy that connects farmers and consumers through resellers.


    The agricultural sector carries immense importance for the Indian economy. It plays a significant role in the overall socio-economic fabric of India. It contributes about one-sixth of the national income and provides direct employment to nearly 50 per cent of the workforce.


    It has positioned itself as more relevant for meeting the food, feed, fodder, fuel, fibre, and timber demands of an increasing human and animal population.


    Green farmhouses, poly houses and small bio farms for growing vegetables etc are becoming beneficial for the farmers due to their quality and fair prices. These days organic farming is becoming popular among women farmers also. Today a farmer can start an agricultural business plan as a start-up, develop it as a source of permanent income and sell his products in the open market.


    Amongst the latest technologies in use within India, The Most innovative and improvised one include Nano Science based Agricultural Intervention, which  is a technique which provides information to the farmers through use of smart delivery systems and nano sensors as to whether or not plants are receiving water and other necessary inputs in adequate quantity. Besides, it also provides information about the quality of food produced.


    By adopting geo spatial farming, agricultural production can be increased on a large scale. Higher production can be achieved on the basis of factors like weeds, quality of soil and its moisture content, production (fertility), rate of seeds, need of fertilisers and other such factors. Big Data: Big data will help in smart farming and it will help the farmers in taking appropriate and timely decisions. This will help in forecasting and advance estimates and will strengthen agricultural development.


    Big data has now become a key player for the utilization of technology for agricultural  development. Big data plays a significant function in Agro-business by improving harvest yield, overseeing risk, and increasing efficiency.


    Data given to farmers can assist them with settling on timely decisions which can provide astounding outcomes. Soil sampling data can assist farmers with knowing the expected yield on their farm, efficient use of fertilizers and pesticides which can reduce their input cost.


    The deployment and development of AI in agriculture is increasing because of the accessibility of the precision data. Artificial intelligence-based modern and cutting-edge tools can help get precision to large-scale farming. Farm equipment can plant various densities of seeds and apply varying amounts of fertilizer in different pieces of a field.




    Agriculture sector in India is suffering from a variety of problems like the use of outdated equipment, improper infrastructure, and farmers unable to access a wider range of markets with ease while making just limited profits on crop sales.


    Proper infrastructure and supply chain management are the more pressing concerns. With improvement in areas of technology, digitization and start-up culture growing rapidly, there are many new ones entering the Indian start-up ecosystem.


    The Agri startups in India are providing information, techniques, and efficiencies to farmers. This shows an Internal Competition being placed in terms of the presence and technological implementations being brought into existence by these Agritech Startups around the country.


    The Major competitors in this sector are mainly the startups which includes SFarms India, Kethi Gaadi, Farm 2 Farm, Cro Farm, BOHECO, AUS – Aarav Unmanned Systems, Aibono, Agricx Lab, Cropin, Fasal and Gold Farm. Boheco is an Agro-based start-up that is reinventing the future of agriculture and sustainable living with hemp as their lens in India.


    The start-up harnesses the power of agriculture by advocating industrial Hemp and its benefits to society. Alongside this, based and Built on high-tech angular technology, Agritech company KhetiGaadi portal is as safe as an online banking portal.


    To make the platform user friendly for the farmers, KhetiGaadi has made it available as an App in 10 languages and the company’s website can be viewed in 3 different languages, English, Hindi, and Marathi.



    • Agri bazaar – Founded in 2016, Mumbai-based Agri Bazaar is an online platform that helps connect farmers, traders, banks, enterprises, and governments. Modelled on the traditional Mandi system, the start-up provides a digital platform for small farmers and merchants to directly sell and buy farm produce without the involvement of middlemen.
    • Boheco – Bombay Hemp Company was incorporated in 2013. They assist local farmers in cultivating the crop by providing optimum seeds, best practices in cultivation techniques, and innovating Agro-products.
    • Krishi Hub – The start-up uses an AI-powered supply chain to undertake farm-to-doorstep delivery. Use of proprietary algorithms for determining the best route for delivery agents has helped the organisation ensure delivery within 12 hours. Reportedly, Krishi Hub has helped farmers reduce their vegetable wastage by up to 25 percent.


    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2023-2030
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2023-2030
    19 Market Segmentation, Dynamics and Forecast by Application, 2023-2030
    20 Market Segmentation, Dynamics and Forecast by End use, 2023-2030
    21 Product installation rate by OEM, 2023
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2023
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix
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