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 today.
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.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app