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India’s agri-tech sector has the potential to grow to $24.1 billion in the next 5 years driven by the availability of affordable high-speed internet and maturing of India’s digital content ecosystem, according to the EY report.
With a turnover of $204 million, India’s agri-tech sector is at under 1% of its market potential today, the report added.
As per the report, there are more than 500 agritech startups in the country. The report also forecast consolidation in the agri-tech space along with startups to meet the end-to-end needs of farmers within the next few years.
