Prioritising effective warehouse management and expanding finance availability will also aid farmers in safeguarding their harvest from external threats, they said.
Shortcomings in post-harvest infrastructure are often critical factors in determining how much food is lost in the supply chain. A lack of processing equipment, driers, cold chain facilities and storage often leads to the unnecessary loss of produce, said the executives.
“It is anticipated that the Union budget would significantly emphasise private sector investment. The government might relax regulations to make investing easier for the private sector,” said Ashok Prasad, CEO of Unnati, a fintech-based agri-platform.
The agritech sector is key to India‘s agriculture sector’s efforts to compete globally, said industry executives, and the landscape is ripe for innovation as the pandemic has accelerated digital adaptation among farmers at an unprecedented rate.
“The budget should allot tax breaks and extend monetary incentives such as subsidised credit facilities and interest rate subvention to agritech enterprises,” said Amith Agarwal, CEO, Agribazar.
Aquaculture farming, an integral part of rural economy, has been adversely impacted by higher production costs due to increased input costs, making Indian exports less competitive.
