Tech Harvest: Introducing TechVest to Indian Agriculture

In India, technology is transforming the agriculture sector, benefiting farmers, agricultural professionals, and consumers alike. The value chain is evolving, with technological advancements enhancing seed production, distribution, and sustainable practices. This transformation is boosting productivity, food security, and economic growth, offering new opportunities for farmers, and marking a shift towards a modern agricultural sector.

The concept of “TechVest” is a key driver of this transformation, combining technology and harvesting practices to improve crop yields, optimize resource usage, and streamline the harvesting process. This enables farmers to adopt modern farming practices and increase efficiency and profitability. Agricultural professionals can leverage technology to develop innovative solutions, while consumers can access fresh produce through e-commerce platforms and digital marketplaces. Overall, technology is revolutionizing Indian agriculture, driving growth, sustainability, and food security.

What’s the buzz about techvest?

In the Indian agricultural sector, the concept of “Tech Harvest” or “TechVest” encompasses the integration of cutting-edge technologies such as precision agriculture, digital payment systems and automated farming to enhance productivity, sustainability, and overall efficiency in farming operations. This initiative leverages advanced tools like data analytics to optimize resource management, mitigate water scarcity and climate change challenges, bolster farmers’ economic well-being, and safeguard national food security through the application of innovative solutions that adapt and modernize traditional agricultural practices.

Pre-tech hurdles for Agri stakeholders

• Before the widespread adoption of technology in agriculture, there were several common hurdles that affected everyone involved in the agricultural sector:
• Limited access to information: Farmers, researchers, policymakers, and other stakeholders in the Indian agriculture sector faced challenges in accessing timely and relevant data and knowledge, leading to impaired decision-making processes, reduced productivity, and decreased efficiency in the agricultural value chain.
• Inefficient supply chain: The absence of technology integration throughout the agricultural supply chain resulted in inefficiencies, including bottlenecks, delays, waste, and increased costs, negatively impacting market access, profitability, and overall value for farmers, processors, retailers, and consumers.
• Poor infrastructure: Inadequate infrastructure, including roads, storage facilities, irrigation systems, and marketplaces, severely impacted the Indian agriculture sector, hindering productivity, quality control, and market linkages, and thereby affecting the entire value chain.
• Low adoption of modern practices: Traditional farming methods, outdated techniques, and lack of awareness about sustainable and innovative practices were major challenges faced by all stakeholders in the Indian agriculture sector, leading to suboptimal yields, reduced competitiveness, and environmental degradation.
• Financial constraints: Lack of access to credit, insurance, investment capital, and financial services hindered the growth, innovation, and risk management of farmers, agribusinesses, cooperatives, and other entities in the agriculture sector, thereby limiting their opportunities and potential for success.
• Insufficient training and extension services: The absence of effective extension services, vocational training programs, and capacity-building initiatives impacted skill development, technology adoption, and knowledge transfer among all participants in the agricultural ecosystem.
• Market inefficiencies: Price volatility, information asymmetry, middlemen exploitation, and lack of transparency in market mechanisms negatively impacted farmers, traders, processors, retailers, and consumers by creating income disparities, reducing competitiveness, and inefficiently allocating resources, ultimately affecting the overall efficiency and sustainability of the agricultural sector.

Addressing these pre-tech hurdles required collective efforts, partnerships, and targeted interventions to enhance the overall resilience, sustainability, and inclusivity of the agriculture sector. Through the integration of technology, innovation, and policy support, it is possible to overcome these challenges and create a more vibrant and interconnected agricultural ecosystem that benefits everyone involved.

Unlocking techvest potential: harnessing technology to conquer challenges

The advent of technology has heralded a new era of possibilities for Indian agriculture, offering innovative solutions to age-old challenges. Here’s how technology has helped overcome the issues faced by agricultural stakeholders and policymakers:

• Precision Farming: Precision farming, enabled by technology, utilizes sensors, GPS, and data analytics to optimize crop yields, reduce waste, and minimize environmental impact, allowing farmers to make data-driven decisions, cut costs, and improve efficiency.
• Automated Farming: Automation has reduced labor costs and increased efficiency in farming operations, such as harvesting, planting, and pruning. This is particularly beneficial for large-scale farms and reduces the need for manual labor.
• Digital Payment Systems: Digital payment systems have made it easier for farmers to receive payments from buyers, reducing the need for cash transactions and increasing transparency. This has also improved the financial stability of farmers and reduced the risk of disputes.
• Farm-to-Table Logistics: Technology has streamlined the logistics of getting produce from farms to tables, reducing food waste and increasing the freshness of produce. This has improved the overall efficiency of the supply chain and reduced costs for consumers.
• Agricultural Research: Technology has accelerated agricultural research by providing access to vast amounts of data, enabling researchers to analyze complex problems more efficiently. This has led to breakthroughs in areas such as genetic engineering, crop breeding, and disease management.
• Farm-to-Farm Marketplaces: Online platforms have connected farmers directly with consumers, reducing middlemen and increasing profitability for farmers. This has also improved the transparency and accountability of the supply chain, allowing consumers to purchase produce directly from farmers.

These technologies have helped overcome various challenges faced by farmers, including reduced labor costs, increased efficiency, improved market access, and enhanced decision-making capabilities. They have also improved the overall sustainability and efficiency of the agricultural industry, making it more resilient to climate change and other external factors.

Consumer Power: Traceability Ensures Quality on Your Plate

Consumers crave quality, safe food. TechVest’s traceability bridges the farm-to-fork gap. Imagine scanning a fruit and seeing its origin, farming methods used! Traceability empowers consumers to:

• Verify origin: Support local farmers, know where your food comes from.
• Track practices: Choose food based on personal preferences for pesticide use, etc.
• Identify risks: Traceability helps pinpoint sources of contamination outbreaks.

Traceability is not just information; it builds trust and brand loyalty. Consumers feel confident about the quality and safety of their food. This win-win strengthens the entire agricultural chain: farmers get premium prices, retailers differentiate themselves, and consumers enjoy peace of mind. Traceability, driven by consumer demand, pushes the Indian agricultural sector towards quality and transparency.

Examples of technology boosting agriculture in India

• According to a report by the Federation of Indian Chambers of Commerce & Industry (FICCI), adopting precision agriculture technologies has led to an average yield increase of 20-30% across various crops in India.
• Millions of farmers have used mobile-based agricultural advisory services like mKisan and CropIn, which provide them with timely information and recommendations for crop management.
• Implementing the Pradhan Mantri Fasal Bima Yojana (PMFBY), a crop insurance scheme integrated with technology for faster claim settlement and risk assessment has provided millions of farmers with financial security.
• Soil health card scheme provides farmers with a soil health card containing crucial data on their soil’s nutrient deficiencies. This allows them to apply fertilizers more precisely, reducing waste and improving crop yield.
• Events like hackathons encourage developers and entrepreneurs to create tech-based solutions for specific agricultural problems, fostering a culture of innovation in the sector.

Conclusion

As agriculture steps into the digital age, the fusion of technology and investment is unlocking unprecedented opportunities to transform our sector and uplift the lives of millions of farmers. Through initiatives like Tech Harvest and the TechVest concept, we can unlock the full potential of India’s agricultural industry, ensuring a secure food supply, a sustainable environment, and economic prosperity for generations to come.

Dexian India in partnership with AgriTech providers is driving innovation and efficiency across the entire value chain in the agricultural sector. Dexian team of experienced professionals with a commitment to excellence, enables AgriTech providers to build solutions like precision farming, traceability, livestock and soil health, supply chain, and marketplace. We are a trusted partner for Agritech businesses seeking to leverage the latest technology.

About the Author

Venkat Lakshminarasimha, Head of Solutions for India, and the Middle East at Dexian India, is a visionary leader in business and product management. With expertise in digital transformation for IT enterprises, government bodies, and Agritech, he excels in translating complex needs into innovative solutions. Venkat’s consultative approach involves close client collaboration on software development, product launches, and lifecycle management, ensuring seamless transitions and sustained success. Venkat grew the team sixfold over four years, even amidst the challenges of the COVID-19 pandemic, driving customer success. He believes in uniting the team towards a common goal to achieve excellence. He has expanded Dexian’s Managed Services globally, leading hundreds of engineers across the US, Middle East, and India in digital transformation and cognitive projects. Venkat has established Centers of Excellence in data science, AI/ML, and AR/VR, demonstrating a commitment to engineering talent development.

Originally posted on ict connect.