Letter from Publisher
Dear Readers,
To increase production, efficiency, and sustainability, the next generation of agriculture, known as Agriculture 5.0, uses cutting-edge technology including artificial intelligence (AI), the Internet of Things (IOT) and machine learning. Agriculture 5.0 is largely being facilitated by ICT technologies, and agribusinesses and agritech companies are leading the way in this innovation. Agriculture 5.0 is based on the principles of earlier agricultural revolutions, like the Green Revolution, which increased crop yields by using pesticides and fertilisers.
Also, it is heartening to note that Dr M S Swaminathan, the Father of the Green Revolution in India was conferred with India's highest civilian award ‘Bharat Ratna’ last month for his contribution to the country’s achievements in agriculture. Agriculture 5.0 goes beyond raising yields, leveraging technology to improve sustainability, efficiency, and climate change resilience in agriculture.
As Agriculture 5.0 takes off, India is poised to become a global leader in the field of smart agriculture. India’s smart agriculture market is poised for remarkable growth, projected to achieve a compound annual growth rate (CAGR) of 13.38 per cent and is expected to garner a revenue of $886.21 million by 2028, according to insights from Inkwood Research. This trajectory is fuelled by several factors including the widespread adoption of the IOT technologies, advancements in analytics and supportive government initiatives. Our team has covered the interesting aspects and latest developments in the Indian smart farming space as the lead story.
Along with smart farming the voluntary carbon credit market in India’s agriculture sector is also gradually gaining momentum, although it remains relatively nascent compared to other industries. This makes it an exciting field with substantial opportunities for growth. The value and recognition of agricultural projects within the carbon market, like those in other sectors, vary based on factors such as project scale, certification standards, associated co-benefits and market demand.
Last month, the centre launched a framework aimed at promoting the Voluntary Carbon Market (VCM) within the country’s agricultural sector. The initiative seeks to empower small and medium-sized farmers to benefit from carbon credits. Our team has spoken to industry leaders on the benefits of carbon credit and VCM and covered an article as to how it will work in the interest of Indian farmers. Besides, we are also covering experts’ articles on VCM and market opportunities in India.
With 432 million working-age women and 13.5-15.7 million women-owned businesses, providing direct employment to 22-27 million people, the empowerment of women in agribusiness holds immense promise for India’s economic growth. Women have taken remarkable strides in agriculture in India, ranging from agritech startups, agribusinesses and R&D to academia. According to a Mckinsey study, rural women entrepreneurs could contribute $1 trillion to the Indian economy, underscoring the potential economic impact of levelling the playing field for women.
As the world celebrates March 8 as ‘International Women’s Day’, our team presents the insights of women leaders from the agri-industry on the ‘Opportunities for women entrepreneurs in agribusiness in 2024,’ showcasing the transformative potential of women in shaping the future of agriculture in the country.
I hope you will enjoy reading this issue and find it informative as well.
Thanks & Regards,