Unleashing the potential - AI revolutionising agriculture

In India, agriculture is the primary source of livelihood for over ~55% of the population. FDI in agriculture services stood at USD 410.62 million between April 2000 to September 2022, while agriculture exports touched a high of USD 50 billion in FY22. Within this, exports in staples such as rice, wheat, sugar, and cereals touched a record high.

It is not just the sheer numbers, though, but the historic backdrop agriculture shares with India across decades that matters more. At the time of independence, it made up over half of the country’s national GDP and cultivated the birth of several other allied industries. This has given India an exclusive identity and edge over many other countries, within which agriculture remains a fundamental pillar of its cultural heritage. 

Despite the countless hits, this sector still faces its fair number of pain points, being susceptible to unpredictable variables such as weather disturbances, pest and disease outbreaks, as well as market fluctuations. It consists of fragile supply chains and suffers from low productivity due to poor infrastructure and declining soil fertility from excessive fertilisation and pesticide use.

While many cross-applicative solutions to such issues have been introduced over the years, the application of artificial intelligence (AI) has garnered particular attention. AI, satellite imagery, and advanced analytics can potentially drive significant economic benefits to agricultural India, which includes addressing volatility issues, ramping up productivity and farming accuracy, and ensuring better crop monitoring, management, and sustainable practices.

A study conducted by NITI Aayog estimates that AI integration could lead to substantial improvements in agriculture, including a 15-20% increase in crop yield and a corresponding reduction in input costs.

This macro-PDF series examines how artificial intelligence can revolutionise the field of Indian agriculture and what this opportunity has in store from a People, Development, and Financial angle.

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Unleashing the potential - AI revolutionising agriculture