Union Minister of State For Science and Technology Jitendra Singh on Friday (May 20) said that agritech startups are critical to India’s future economy.
Addressing a conclave in Mysuru, the minister said that a new wave of agritech startups has emerged in the country in the last few years. “Many startups have come up providing innovative and sustainable solutions for farmers’ problems and are providing solutions . The increase in smartphone penetration and emergence of startups were facilitating fast technology adoption in the farm sector.” He also said that; These startups are solving problems related to supply chain management, improper infrastructure and inability of farmers to access a wider range of markets. “Young entrepreneurs are now quitting their jobs in the IT sector and MNCs to establish their own startups. These young entrepreneurs are now beginning to realise that investing in agriculture is one of the very few safe and profitable businesses” .