Importance of agriculture and the present panorama
Agriculture and allied sectors in India make use of about 50% of India’s workforce. Yet, it contributes to lower than a fifth of the GDP. An common farmer in India earns lower than US$ 2000 every year, in comparison with the United States of America, the place the Food and Agriculture sector contributes ~US$ 1tn to the GDP and employs roughly 25 million individuals, immediately and not directly.
The Food and Agriculture per capita GDP within the US is ~ US$ 40,000. Even with the most important space of land underneath agriculture on this planet, agricultural yield per hectare remains to be low for main crops in India. The hole in productiveness and effectivity within the Indian farm and agriculture sector is a evident one.
Farm productiveness and farmer earnings in India is plagued with a number of challenges – marginal land holdings of farmers making mechanisation tough and implementation of expertise tough or unviable, well timed entry to real and top quality inputs and farming recommendation, closely intermediated provide chains, dependence on monsoon rains, and insufficient storage services.
Furthermore, farmers lack institutional assist by way of entry to monetary companies (loans, insurance coverage) and capability constructing. With their incomes already underneath strain, farmers are unable to modernise agricultural practices to enhance yield.
Demand for meals continues to extend because the inhabitants grows. Productivity challenges within the agricultural sector want pressing options. Even as primary meals safety is achieved, altering client preferences are resulting in rising demand for wholesome, contemporary, and nutritious meals choices past simply carbohydrates.
Conscious shoppers wish to know the way and the place their meals has been produced, processed, and saved earlier than it reaches their desk.
Data science and its makes use of to deal with the agriculture sector’s challenges
Data science is the strategy of gleaning insights from information. It permits the usage of real-time information and previous information to kind significant insights on purchaser behaviour, buyer credit score behaviour, product testing, cropping patterns, and others.
Data science already performs a big position in banking and healthcare, each in India and globally. The rules of knowledge science is also utilized to the Indian agriculture business throughout the worth chain from the farm by way of retail.
Improving yield and productiveness
One of the challenges Indian farmers face is lack of entry to greatest practices from sowing to harvesting and storage. Farmers need to tailor the selection of crop and crop care methods to the soil and climate situations of their land to derive probably the most yield.
Data science can present actionable insights bespoke to farmers’ land and possession sample on what to plant, when to plant, and what farm practices to deploy. Making well-informed choices may save prices and improve a farmer’s profitability and earnings.
Enabling sensible farming
Solutions to allow real-time monitoring of farms will assist farmers deploy corrective measures on time. For instance, early illness detection in crops and monitoring soil moisture ranges in farms for optimised yield.
Smart farming helps farmers monitor related parameters repeatedly by way of IoT-enabled options. These options can also assist farmers automate and optimise processes similar to pesticide spraying, irrigating, rejuvenation of soil, and different such actions.
Financial options for farmers
Banks and different monetary establishments wouldn’t have enough information on crop efficiency and farmer incomes. Data science options on farmlands and cultivation tendencies may also help monetary companies firms to enhance their underwriting of loans and insurance coverage merchandise for agri-related financing.
High variable prices and restricted entry to underwriting information make lending and insuring farmers an unviable enterprise, notably in India the place majority of farmers personal small tracts of land.
However, new-age options at the moment are utilizing satellite tv for pc imagery and mixing non-traditional information units similar to climate information and satellite tv for pc imagery to trace cultivation progress and climate patterns. Such options may also help predict farm-level yields and allow monetary establishments to assist farmers with insurance coverage merchandise and loans for working capital and capex for farmlands.
Building built-in provide chains
COVID-19 has emphasised the necessity to construct built-in provide chains. Crisis or not, you continue to want meals on the desk. Data-led and tech-enabled processes improve procurement capabilities, farm-level traceability, and monitoring, thereby making certain a smoother provide chain and serving to cut back meals wastage.
Business fashions in different markets have confirmed the viability of utilizing information in agriculture. Several firms have recognised these purposes of knowledge science to resolve agricultural challenges.
For occasion, Monsanto, a number one agricultural firm, acquired Climate Corp, a digital agriculture firm that makes use of climate, soil, and subject information to assist farmers make optimum farming choices. DuPont acquired Granular, Inc., a supplier of software program and analytics instruments that assist farms enhance effectivity, profitability, and sustainability. The final decade has additionally witnessed a rise in agri-tech investing by sector-focused and early-stage generalist funds.
India has the second-largest highway community on this planet. Connectivity between cities, cities, and rural markets has additionally step by step improved during the last decade. Most Indian villages now have entry to electrical energy. Infrastructure in India is able to give a digital makeover to the agriculture sector.
India has over 1 billion cell phone connections and over 500 million smartphone customers. Backed by the bottom cell information charges on this planet, India is greater than prepared for digitisation.
The price of cell information and expertise prices (IoT gadgets, controllers, chipsets) have considerably diminished during the last decade. Smartphone penetration and the usage of cell gadgets would proceed to rise. India is quickly digitising, and this may produce huge portions of knowledge.
The variety of firms that use information to enhance farmer incomes and farm productiveness is on the rise. The digital revolution of the agricultural sector has already begun, and plenty of revolutionary companies will discover their area of interest whereas collectively addressing the sector’s most urgent wants.
(Disclaimer: The views and opinions expressed on this article are these of the creator and don’t essentially mirror the views of YourStory.)
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