Hi-Tech Agriculture means the adoption of high and new technologies that can improve the performance of farming practices and farm management.
Food Processing & Hi-Tech Agriculture
Reason for choosing the segment
- India ranks second in terms of availability of arable land with 127 diverse agro-climatic zones, having a share of 11.2% of the total arable land in the world. In addition, the resource-rich country has the 6th largest food and grocery market and the 5th largest retail market globally. Thus, India is capable of providing the world a perfect blend of traditional and hygienic food processed and packaged according to modern technology.
- Benefiting from such a geographical advantage, India is the largest producer of milk, bananas, mangoes, guavas, papaya, ginger, okra, second largest producer of wheat, rice, fruits, vegetables, tea, sugarcane and cashew nut and the third-largest producer of cereals, coconut, lettuce, chicory, nutmeg, mace, cardamom, and pepper globally.
- The Horticulture sector has recorded a production of 300.6 Million Tonnes, which is 5% higher than in the previous year. The sector has witnessed an average growth rate of 5.5% annually over the last ten years.
- It also gains from its locational advantage from the viewpoint of trade, as it has close connectivity with Europe, Middle East & Africa from the western coast, and Japan, Singapore, Thailand, Malaysia, Korea, Australia & New Zealand from the eastern coast.
- Private Sector participation has been on a continuous rise in many segments of the value chain. And, there exist huge opportunities for investments in the fields of contract farming, raw material sourcing, and creation of Agri linkages. Many international companies have gained a major foothold in contract farming initiatives.
- Apart from growing population and burgeoning purchasing power, rising urbanization, rising retail trade due to initiatives such as Digital India, together with the presence of global players of the industry can be considered as the major growth drivers for the industry. As, India having a population base of 1.3 billion offers a large demand-driven market, with a retail sector that is expected to treble by 2020. Hence, the total consumption of the food and beverage segment domestically is expected to reach US$1.142 trillion by 2025.
GETROBIZ is working on to enter end-to-end solutions from contract farming through High-Tech Agriculture, processing and logistics to whole sale customers of High-end consumer products by the end of 2019.
