Indian agriculture and its allied sectors are the largest source of livelihood in the country.
It is estimated that India can generate $813 billion in revenue with an investment of $272 billion in agritech and allied segments by 2030.
The sector is slowly shifting from traditional farming to horticulture and livestock production and the demand for fresh and processed food products has also increased due to the rise in income levels, urbanisation and changing consumption habits.
The government has announced several policies, schemes, and programmes, such as a production linked incentive scheme to boost the food processing sector, Krishi UDAN 2.0 scheme for facilitating and incentivising movement of agri-produce by air, a composite portal to provide agricultural marketing-related services through a single digital platform and more.
The traditional agriculture industry is ripe for disruption that will benefit both the farmer community and businesses. So what does the agritech industry expect from the union budget to discuss this Startup Street spoke to Mukul Garg, founder of AGRIM and Ranjith Mukundan, co-founder and CEO of Stellaps.
Mukundan said he expects much better capex support, better loans for setting up milk processing plants, treating the dairy farmers on par with rest of the agri farmers, and helping access to better green credit facilities for example solar driven cold-chain, which is a big green initiatives etc.