Pandemic expedited digitisation of agri sector
According to agritech venture capital firm Omnivore’s The Future of Indian Agriculture and Food Systems: Vision 2030 Report, agriculture sector is slowly going digital, with large farmers, dealers and distributors adopting tech-enabled payment systems. The firm also identified the key trends that will drive the future of agriculture in India such as precision agriculture and automation creating a “farm of one”, eco-friendly crops, farmer-consumer intimacy, rise in diversity, quality and sustainability of food sources, among other things.
“India’s agritech sector is witnessing a paradigm shift catalysed by digitisation and rural smartphone penetration. Agritech as an asset class has more acceptable for more investors. In the last 3-4 years there has been a lot of interest in agritech, from corporates, private equity and other investors,” stated Jinesh Shah, managing partner, Omnivore. He opined that agriculture is slowly going digital, with large farmers, dealers and distributors adopting tech-enabled payment systems.