Precision Digital Agriculture can ensure 40-80% increase in revenue

Precision Digital Agriculture Need of the hour: Achal Sharma ‘AC’

New Delhi: 9th October 2019

To promote greater use of precision technologies, including AI, ICT, robotics, optics, big data analytics, blockchain and PRA in agriculture to improve operational efficiency and profitability in farming Indian Council of Food & Agriculture organized World AgTech Congress at NASC. The occasion was marked by the presence of global CEOs from US, Israel, Singapore, Pacific and Netherland agtech companies.

Mr Achal Sharma, India Lead – Accenture Interactive said that Precision Digital Agriculture is the need of the hour. Digital Precision Agriculture presents significant potential in enhancing food productivity while at the same time providing sustainable management of resources. The Global precision farming market is estimated to grow at CAGR of 11.7% from 2015 to 2022 to reach $4.80 billion.

Precision Agriculture can help increase overall profit by 35% to 60% per acre. Precision agriculture helps to reduce up to 80% of diffuse water pollution from agriculture which in turn save around 40-55% money spent on water preservation which can be up to 2.5% Global GDP Per annum.  Hence, the total precision agriculture market is expected to reach USD 4.80 billion by 2020 from USD 2.76 billion in 2015 at a CAGR of 11.7% between 2015 and 2020.

However, there are some challenges in adopting technology in India. The high capital investment, lack of awareness about the technology among farmers. They are reluctant to adopt the latest technologies for farming practices. The high cost of gathering precise field data, less penetration even in advanced economies forbids economies of scale. Varying levels of mobile connectivity for workers in remote areas.

I feel the need for Public & Private Partnership to promote the Digital Agriculture in India as Precision Digital Agriculture ensure 40-80% increase in revenue. Digital agriculture can vastly increase efficiency as well as create new markets and opportunities, added Achal Sharma.

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