The minister reported that Rs 6,865 crore will be invested by the government to establish 10,000 new Farmer Producer Organizations (FPO). He said that 86% of the nation's small farmers, who are unable to make significant investments, are taken into consideration when making decisions.

 

India received almost $1 billion in agritech funding from 2017 to 2020, according to the India Brand Equity Foundation. India ranks third in terms of agritech funding and the number of agritech businesses, with strong interest from investors. Indian agritech startups are anticipated to get funding by 2025 worth $30-35 billion.

 

According to studies, the Indian agritech ecosystem has the potential to draw over $10 billion in investments over the next ten years.

 

It went on to say that the government has shown a willingness to alter agricultural and related policies and support the ecosystem for agricultural startups. It noted that the recently introduced agro reforms are an effort to disintermediate the convoluted agri-supply chain.

 

The government is promoting the use of smart farming methods by implementing technology and innovation in the country's agriculture industry. The India Digital Ecosystem of Agriculture (IDEA), farmers database, Unified Farmers Service Interface (UFSI), and support to the states on the new technologies, soil health, and fertility are all part of the government's Digital Agriculture Mission (DAM).

 

The National e-Governance Plan in Agriculture (NeGPA) programme offers state governments funding for digital agriculture initiatives that make use of cutting-edge technology, such as artificial intelligence and machine learning, the Internet of Things (IoT), blockchain, etc. The utilisation of information and communication technology, particularly drone technologies that are being implemented nationally, is intended to accomplish rapid development in India.

 

The government is offering a subsidy of Rs 5 lakh to women, farmers, and small and marginal business owners in the northeastern states in order to encourage the usage of Kisan drones.

 

This year, Prime Minister Narendra Modi launched 100 Kisan drones in various Indian cities and towns to spray pesticides on farmland as part of a special programme to aid farmers. The election season has begun for a number of states, including Punjab, Uttar Pradesh, and Goa.

 

In addition, the government is supporting the use of Kisan drones for nutrient and pesticide spraying, digitising land records, and crop evaluation. Funding for these initiatives has been included in the budget.