AgriNation News Network
New Delhi. 31 July 2018
Agriculture sector must grow at 4 per cent or higher in order to achieve GDP growth rate of 8-10 per cent, Niti Aayog CEO Amitabh Kant said on Monday.
This, he said, is achievable by digital farming and connected farm services which can increase farmers’ income. Citing a study, Kant said digital disruptions can impact 70 million farmers in 2020, adding USD 9 billion to their income.
“Agriculture and allied sector still accounts for 49 per cent of India’s workforce and 16 per cent of country’s GDP,” he said at an event organised by ICAR. As per a research, Artificial Intelligence in agriculture was valued at USD 432 million in 2016 and this would be around USD 2.6 billion by 2025, Kant pointed out..
Agriculture tech startups have raised over USD 800 million in the last 5 years, he added.