India's fastest growing agritech startup | agrimarketplace

The global agritech market is estimated to significantly increase revenue to US$ 64,448.07 Mn by 2031 from US$ 13,265.5 Mn in 2022 at a CAGR of 19.2% over the projection period 2023-2031. As for India, the tech-powered industry is slated to reach a valuation of $13.50 Bn by 2023 in market size.

Diversifying agritech services available to farmers in India has been the need of the hour, and the government has been promoting it vigorously. The government has implemented various schemes, including e-NAM, Soil Health Card Scheme, Pradhan Mantri Fasal Bima Yojana, and National Food Security Mission, encouraging farmers to adopt new technologies and practices for increasing yields.

One of the leading and trusted agritech platforms is agribazaar, which offers a one-stop platform for farmers with services including soil testing, crop health monitoring, weather forecasting, pest management, and crop yield estimation. The company uses a combination of remote sensing, AI, machine learning, & many other advanced technologies to improve farmers’ profitability.

But how are the farmers going to benefit from these services?

• Improved crop yields: Technologies such as satellite imagery & data analytics provide farmers with accurate and timely information about their crops. Farmers can make more informed decisions about sowing, fertilising, and harvesting crops.
• Cost savings: Farmers can optimize their water, fertiliser, and pesticide use. This can lead to cost savings for farmers, as they can use these inputs more efficiently.
• Improved resource management: Farmers can optimize their irrigation schedules and use water more efficiently by monitoring soil moisture levels and other factors. 
• Risk management: Farmers can manage weather conditions, pests, and disease risks. They can make timely decisions to mitigate risks and minimise losses by providing real-time data on crop health and environmental conditions.
• Sustainability: Farmers can adopt more sustainable farming practices by optimizing the use of inputs & resources. This can improve soil health, reduce water usage, and decrease environmental impact.

Conclusion 

agribazaar is serving the agri community by developing hi-tech tools that are easy to use and will make the farmers tech ready. The diversification of agritech services available to farmers in India has significantly improved their access to technology and innovation, enabling them to overcome the various challenges they face in agriculture.
With the continued growth of these services, it is expected that the Indian agricultural sector will become more competitive and sustainable, ultimately benefiting both farmers and consumers. This is good news for farmers and consumers, who can benefit from improved food quality, increased supply, and reduced prices.