Enriching agritech platforms adding substance to agricultural value chain

Standing tall and lean, with a plow in hand, we have always placed Lord Balarama, the Indian god of agriculture, beside Krishna as his comrade-in-arms. In all his revered forms, whether in Puri, Mathura, or Vrindavan, Indian mythology has assigned agriculture a significant position right next to Vishnu. With 55% of the country’s population dependent on agriculture, it remains one of India's primary industries. Given this backdrop, the significance attributed to Balaram is appropriate.

Driven by traditional beliefs and seasonal uncertainties, Indian agriculturists and farmers have repeatedly faced significant obstacles. Covid-19 has exacerbated the challenges experienced by farmers, increasing the urgency for an overhaul of the agricultural industry.

In the given circumstances, AgriTechcompanies have positioned themselves as the seeds of change for the industry.

The first steps are taken by farmers, who have to reckon with challenges of low operational visibility and the inability to anticipate the seasonal nature of good yields.

Coming as saviours, armed with data analytics and AI,are AgriTech companies which can specifically address and resolve these issues, guide farmers to agro-practices that are suitable for regional conditions. In addition to providing expertise on farming practices, AgriTechfirms have also played a pivotal role in equipping farmers with cutting-edge farming technologies, which not only facilitate better crop yield but also enhance the digital acumen of the agricultural community.

As farmers scale up with ingenious practices, AgriTech companies find themselves on the bridge connecting farmers to consumers. Earlier, the supply chain was dependent on intermediaries, who might not necessarily prioritize welfare of farmers or consumers. However, AgriTechplatforms have circumvented intermediaries and are working directly with peer partners, retailers and farmers. By straddling the last mile between suppliers and farmers through doorstep deliveries, these platforms have facilitated integration of farming communities.

As a further boost, the government has encouraged online platforms and e-mandis. Providing a one-stop destination for farmers and consumers, these e-mandis help prevent farmers from being taken for a ride by unscrupulous local traders and also reduce costs on transportation and locating selling points. Byharnessing established agricultural markets and modern technology, the platforms help farmers get optimal prices via bidding processes while enabling customers and wholesalers to access real-time pricing information.

As the focus of discussion shifts towards consumers, Agritech platforms have conferred a variety of empowering benefits upon them. In a post-pandemic era, consumers are more conscious than ever about what goes on their plates. Agritech platforms enable farmers to receive fair prices for their produce, which safeguards consumers from receiving adulterated products. Additionally, the platforms serve as a conduit for farmers to convey their demands for organic products, which are increasingly in demand in today's health-conscious world.

The potential for growth in the Indian Agritech markets has become increasingly apparent, with an increasing number of startups entering the industry and building seamless digital platforms that can fully integrate value chains and fruitful harvests. Developing AgriTech platforms are enhancing the agriculture sector's efficiency by reducing information asymmetry, facilitating direct market linkages and improving supply chain management. Such improvements are crucial for meeting the rising demand for high-quality nutritious food, strengthening farmers' livelihoods, and promoting sustainable agriculture practices.

The impact of Agritech platforms on Indian agriculture is so significant that they have ripened into an incarnation of Balarama itself, wielding the 'Hal' to revolutionize and create value along every step of the agriculture value chain.

(The writer is Founder & CEO, Gramik)