Reported by: banking|Updated: May 3, 2019
The Digital Wave has enormously transformed all the businesses and the agricultural sector is no different. The prediction about returns from the sector gets the highest level of accuracy when mediums like satellites, drones, mobile devices, fuel pumps, commodity markets, exchanges etc., are used. The farmers can use these key information factors and then determine the success or failure of the crops. They can thus reduce risks and maximize returns.
After the Green Revolution in India nearly 55 years ago, time is now ripe for the next revolution as technology is ready to support it. What is needed is support from the ecosystem – from the corporates, banks, insurance companies, agri companies and the government. All these stakeholders have already started their digital journey and it is now time to include the farmer for mutual benefit.
Today, a variety of commercial technologies are available in the market. The challenge lies in choosing the best technology keeping in mind factors such as ‘time to market’ and loss of productivity. For example, missing 1-2 crop seasons to validate results. Decision makers are constantly trying to determine what diligence and trust is needed to take this call.
To help chart the roadmap for extending the digital ecosystem to the farming community, Banking Frontiers is organizing a roundtable for the stakeholders who can revolutionize farming and bring economic prosperity to the farmer. We are pleased to invite you to the roundtable and await your confirmation in participating in this brainstorming session.