22 February 2022, New Delhi: The agriculture sector in India contributes around 18% to India’s GDP. To boost the sector and improve productivity and profitability the government of India recently announced key initiatives during the Union Budget 2022. This includes special initiatives aimed at transforming the sector including AgriTech solutions, R&D, digitization and implementation of cutting-edge technologies like drones, AI, VR, IoT among others.
There has been an increase in companies/start-ups working in this space, and the latest company to enter the AgriTech space is EST Rural Tech Pvt. Ltd., a part of Rhiti Group, one of India’s fastest-growing conglomerates across sectors. Rhiti Group has announced collaboration with EST Global Inc., a leading FinTech company based in the Boston Cambridge MIT ecosystem working towards investing in FinTech solutions and bringing financial inclusion.
This new venture will take forward various initiatives towards a comprehensive transformation of India’s rural economy based on principles of SDG, ESG, and Circular Economy by developing islands of economies with rural eco centers. These will interact with each other and further integrate themselves to create a decentralized rural ecosystem and address major issues faced by farmers during pre-farming, farming and post-farming phase. The platform will also offer multiple opportunities to the rural population employed with various ancillary services in the rural economy beyond agriculture like small scale artisans and service providers.
Speaking on the collaboration Mr. Arun Pandey, Founder Rhiti Group and Co-chairman, EST Rural Tech Pvt. Ltd. said, “With seamless communication, data management and effective integration of cutting-edge technologies like AI, ML, IoT, Virtual Reality, Drone technology etc., we can transform India’s agricultural sector and subsequently change the lives of our farmers.”
Dr. Sindhu Bhaskar, Founder EST Group and Co-chairman, EST Rural Tech Pvt. Ltd., commented, “Industry 4.0 has given a definite fillip to Agriculture. AgriTech has the potential to substantially scale-up the autonomous and growing rural economy, rural capital and rural wealth improving the overall productivity. This not only helps in ensuring the financial and social mobility but also contributing to the national economy of the country.”
EST Rural Tech Pvt. Ltd. will provide all the pre-and post-harvest support to the rural community with AI, ML, IoT, Drone and Blockchain technology-based services, Crop Insurance, micro-lending and Rural E-commerce all under one umbrella so that a perfectly aligned rural ecosystem gets created. This amalgamation of technology and agricultural science within the matrix of rural economy will help farmers in making farming profitable. A reasonable, rational platform will always stand up to remove the blocks of the hinterland economy.
EST Rural Tech Pvt. Ltd. is launching this unique project of Globalagri.in (www.globalagri.com) throughout India. Mr. Pandey and Dr. Sindhu both stated that it is a humble project with noble intentions and widespread economic reach and impact.