Agriculture is the primary source of livelihood for about 58% of the population of India. While Agri exports from the country are expected to cross over $60 billion by 2022, the Government also plans to double the farmer’s income by 2022. With a high rate of agricultural land and diverse agro-climate conditions, the Indian ecosystem encourages the cultivation of multifarious crops. From fruits to various food grain products, India’s agriculture segment is growing by leaps and bounds and is also poised for huge growth in the future.

These have also attracted various startups and companies, who have come up with various technologies to support the agricultural society and make it flourish more.

Recently, Finance Minister Sitharaman declared the third tranche of the economic stimulus package, and agriculture was one of the primary focuses of it. The government has allocated some reforms and funds for strengthening the farm gate infrastructure of India.

A new central law will be brought in to provide adequate choices to farmers to sell their produce at an attractive price, barrier-free interstate trade as well as a framework for e-trading of agricultural produce.

The Government will amend the Essential Commodities Act, 1955. This will help the farmers towards better price realisation of cereals, edible oils, oilseeds, pulses, onions and potatoes.

As a part of the reform, the government has earmarked Rs 1 lakh crore as Agri-Infrastructure Fund for aggregators, farmers producers’ organisations, agricultural startups, which will fortify the farm gate infrastructure.

Along with strengthening the agriculture industry of India, these reforms will create space for private players to have access to integrated markets. Moreover, with more buyers, the associates of the industry will have better prices and wider scope of bagging higher returns.

Post the announcement, Ashok Gulati, Chair Professor for Agriculture at Indian Council for Research on International Economic Relations said, “These are positive and big bold steps which were long overdue. What we need is the private-sector competition. When you create competition for their crops, the price also improves.”

With agriculture getting highly influenced by various technologies like hydroponics, vertical farming, etc., these new reforms will encourage private players to venture into agritech more and bring further innovations. Also, the government has given private access to the atomic sector for upgrading the irradiation of foods, escalating the shelf life of the product. Hence, the agriculture industry will benefit further.

If you are keen on bringing further innovation to the agriculture industry and ready to be one of the top private players in strengthening the farm gate infrastructure, but is worried about funds, then Hyderabad Angels will help you to achieve your dreams.