A Way Forward for Agri Startups in India

Abstract

Agriculture in India has progressed well beyond the cultivation of essential food grains. The previous measures were effective in that India was able to transition from import dependency to self-sufficiency. However, the crucial question is whether our current plans appropriately prioritize the key elements that have the potential to bring farmers wealth by delivering cost-effective solutions and attaining desirable future growth. Startups are critical for fostering creativity in a society. These entrepreneurs are challenging the dominance of huge corporations not simply via innovation, but also by giving simpler answers to the problems they address. Startups have unique ideas. They are always understaffed, never have enough hours in the day, and nonetheless have a pragmatic mindset that drives them to find new solutions to problems. These firms, via their unique approaches, have aided stressed farmers (especially small and marginal farmers) and provide solutions to Indian agriculture's difficulties.

In this view, to understand the importance of startups in agriculture, the government of India is aggressively working on creating an ecosystem in the country to support the startups through several programs and schemes. Here we studied the recent scheme ‘RKVY-RAFTAAR’ (Rashtriya Krishi Vikas Yojana - Remunerative Approaches for Agriculture and Allied Sectors Rejuvenation) for the promotion and development of agriculture startups in the country.