40% of Indian farmers now paying electronically, says McKinsey survey

But they're still relying on traditional farming methods, says McKinsey survey

Cash is no longer the king for Indian farmers, with digital payments at the retail level catching on pretty fast. And they are increasingly moving to formal credit channels like banks and subsidised government credit.

 

While farmers are increasingly buying crop insurance as well as biologicals to improve yields, they still rely on traditional farming methods instead of adopting modern farming technology. And they are the least enthusiastic of growers surveyed globally about digital interactions at all the stages of the purchase journey, from research to planning the next stop, according to the latest survey by McKinsey

 

The survey was