India significantly relies on agriculture both culturally and economically. The core of India lies in the Indian rustic region. A significant piece of India’s GDP is from agribusiness, a little and medium small and medium scale enterprises. We know the majority of the population are farmers and it is vital for the government to take all the possible measures to support them. Moreover, the government seldom allowed farmers to export and earn higher profits. Now let us try to understand how technology can be used to help the agriculture industry and farmers.
Normally, the lending organizations like banks protect their loans. If the borrower can’t pay, then the loaning agency will remunerate the losses of the banks. I don’t know why this is not done in the case of farm loans. Might be the insurance agency could have felt that it is excessively risky to recover the farm loans. It could be the absence of data, that is halting insurance agencies to cover crops. So let us attempt to give insurance agencies, banks, government, and the farming community data about the health of the crops so all the stakeholders will have a solid sense of reassurance and security and farmers also will be assured of returns.
One of the major prerequisites for farming is water. Water shall be provided to the crop at the right time and quantity, as overwatering can reduce production.