With the pandemic catalyzing tech-adoption in agriculture, the Indian agritech sector witnessed an unprecedented boom in 2020-21. Till date, record investments in agritech have led to infusion of fresh capital from leading domestic and global investors. This, in turn, is driving the rapid pace of innovation led by various start-ups in different stages of maturity that are building market-specific solutions. It is already expected that 2022 will be much bigger than 2021 for agritech in terms of investments, innovation, growth and impact.
As per the latest report by Bain & Co., the agritech sector is poised to grow into a $30-35 billion market by 2025. These expectations reflect the increasing penetration of new-age technologies down the agri-food value chains, driven by digitalization of the agriculture sector. The Indian agritech sector stands at the cusp of transformation in 2022, but to truly realize the growth potential of both agriculture and agritech, policy-driven governmental support is critical, especially at the grassroots level.
