Here’s How India Can Unlock the Power of Agricultural Technology Through Public-Private Partnerships
The Indian Government’s proposal to deliver hi-tech services to farmers through public-private partnerships (PPPs), recently presented in its annual budget, is likely to offer critical support for the agricultural sector at a time when it is greatly needed, according to the World Economic Forum.
The COVID pandemic and the war in Ukraine has massively disrupted the global food system, putting huge pressure on agriculture-focused countries like India to provide more sustainable options.
This is where agricultural technology could prove key. India has potential economic value of $50-65 billion through digital agriculture by 2025 translating to 23% addition to the current value of agricultural produce, according to a report by the country’s Ministry of Electronics and Information Technology and McKinsey & Company.
Such investment can also have a significant impact beyond the economy. With 60% of India’s agricultural land being rain-fed, climate change poses a critical threat to food and agricultural systems.
So using agricultural technology and precision tools will be more important than ever to prevent hunger and eliminate food waste, and making these technologies more available to India’s 130 million smallholder farmers can ensure greater financial resilience for them.
Read more at World Economic Forum.
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