By PTI Dec 23, 2021 10:35:19 PM IST (Published)
A report titled 'Investing for Impact: Agri, Food and Agritech' suggests that with smart innovations, infrastructure and policy support and newer business models, the top-10 ideas researched by the IFP community can attract $272 billion in investments and generate $813 billion in revenue, impacting 1.1 billion lives.
With an investment of $272 billion in agritech and allied segments by 2030, India can generate $813 billion in revenue, creating 152 million jobs, making it the largest private sector industry in the country, according to a report. With agriculture remaining the mainstay of the Indian economy, investment in agritech and allied segments can transform the face of Indian agriculture with far-reaching implications for food security and sustainable farming solutions, according to a report titled 'Investing for Impact: Food, Agri and Agritech' by Aspire Impact.
In the past decade, India attracted about $9 billion in foreign direct investments (FDIs) in the agriculture sector, said Amit Bhatia, founder of Aspire Circle and creator, Impact Future Project. He added that this decade brings an opportunity for India Inc to take advantage of the massive untapped potential this sector holds and transform it to be sustainable and future-ready.
"With smart innovations, infrastructure and policy support and newer business models, the top-10 ideas researched by the IFP community can attract $272 billion in investments and generate $813 billion in revenue, impacting 1.1 billion lives," he added. The report has been authored by leading agritech experts, industry leaders, academics and thinkers.