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India – The Future Agritech Economy

India is rapidly positioning itself as a future agritech leader, thanks to its vast agro-ecological diversity and a booming agriculture sector. Agriculture contributes 18% to India’s GDP and employs 45% of the national workforce, highlighting its critical role in the economy. Despite this, the agritech market is largely untapped, with only 1.5% penetration, representing a US$ 24 billion opportunity. With advancements in technology, the agritech ecosystem has the potential to increase farmers’ incomes by 25-35%, adding US$ 95 billion to India’s GDP by lowering input costs and boosting productivity.

The Indian agritech industry is seeing rapid growth, driven by innovations in e-commerce, fintech, and digital technologies. Over 1,300 agritech start-ups have emerged, with Karnataka, Maharashtra, and Delhi NCR leading the charge. The sector’s market size is expected to skyrocket from US$ 4 billion in 2022 to US$ 34 billion by 2027. Core areas such as food crops, fibre crops, dairy, poultry, and aquaculture are set for massive growth.

With increasing government support and a focus on digitalization, India’s agritech sector is poised to transform the country’s agricultural landscape, contributing significantly to global food security and sustainability, making India a key player in the global agritech economy.