Agriculture is the main source of livelihood for 58 percent of the Indian population and it represented almost $300 billion of gross value add in FY20. However, the annual growth in this gross value add is a mere 3 percent. This represents the lack of innovation that this critical sector has experienced over decades, however, it also represents the huge opportunity for innovation and technology.
Farmers face fundamental issues including lack of information on farm inputs, unorganised credit, and absence of market linkages. To put things in perspective, most farmers are compelled to use the traditional channels to purchase raw materials such as seeds, fertilisers, and other farming products. Moreover, almost 30-40 percent of the total harvest gets wasted at various levels of the distribution or supply chain, which amounts to very low earnings for farmers.