Agriculture is an important sources of revenue for India, contributing 18% to the national GDP. Nearly 55% of India’s population depends on agricultural produce and sale as a source of income. Being a priority sector, investments (foreign and domestic) have poured in and technological innovations have boomed in this industry, primarily through the rise of entrepreneurial ventures. As of 2020, there are 450+ agritech startups in India, raising a total funding of USD 244.59 Mio (until June 2019).
Needless to say, agritech has the potential to redefine the food and nutrition market in the country by increasing the rate of food production for a growing population, ensuring cleaner, safer, and higher quality food, and reducing wastage. So what are the key areas of growth in this sector? What does it have to offer international startups?
We sat down for a conversation with Mark Kahn from Omnivore Ventures to find the answers. Omnivore is a venture capital firm that has pioneered agriculture investing in India since 2011. Mark Kahn shares his thoughts on where India’s agriculture was a decade ago and where it’s headed now –