Agriculture sector need to grow at 4 percent or higher to boost economy, says Niti Aayog
Citing a study, Kant said digital disruptions can impact 70 million farmers in 2020, adding USD 9 billion to their income.
- Country:
- India
Agriculture sector must grow at 4 percent or higher in order to achieve GDP growth rate of 8-10 percent, Niti Aayog CEO Amitabh Kant said today.
This, he said, is achievable by digital farming and connected farm services which can increase farmers' income.
Citing a study, Kant said digital disruptions can impact 70 million farmers in 2020, adding USD 9 billion to their income.
"Agriculture and allied sector still account for 49 percent of India's workforce and 16 percent of country's GDP," he said at an event organized by ICAR.
As per a research, Artificial Intelligence in agriculture was valued at USD 432 million in 2016 and this would be around USD 2.6 billion by 2025, Kant pointed out.
Agriculture tech startups have raised over USD 800 million in the last 5 years, he added.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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