Digitalization of Agriculture in India: Pathway to Prosperity

Abstract

Digital marketing covers all the marketing strategies that are using the internet or an electronic device. It is a new way of approaching customers. According to a recent survey, India’s digital advertising industry is growing at a rate of 33.5 per cent annually. There is a gradual rise in digitization and modernization taking place in several aspects. Agriculture sector is also identified as one of the potential sectors of digitization due to large volumes traded and a high level of fragmentation present in the supply chain. In India, a significant part of the population is engaged in agriculture. Although different modern techniques and practices have been adopted in agriculture that has undoubtedly helped to improve the production over the years, but there has been a constant challenge to provide a market for the marketed surplus and getting fair prices for the same. Agricultural marketing covers the services involved in moving a farm product to the target consumer. It has undergone numerous changes over the last few years. It has beautifully evolved from barter system to organized marketplaces to today’s electronic market platform owing to several technological changes and government interventions. Institutions such as Agriculture Produce Marketing Committees (APMC), regulated market yards, and minimum support price are instances of state support that have led to a strong primary sector. Further, development of technological and financial innovations has changed the commodity transaction pattern of the stakeholders. Digitization of transactions helps in trading large volumes and also enhances transparency and associated benefits. Different initiatives have been taken by the Indian Government to digitize the agriculture sector to help the farming community such as launching of Digital India Campaign and various mobile applications that help in increasing agriculture productivity