Agriculture sector in India is the one industry that is capable of creating more value and jobs singlehandedly than any other industry! And, that is saying a lot considering India is one of the leading providers of IT services, technology, services (especially ITES/BPO) and has the potential to become the manufacturing centre of undeniable scales. Yet agriculture sector and the tertiary sector around its ecosystem has the ability to dwarf all these industries in comparison.
Recently, there has been a marked increase in the interest Venture Capitalists are showing in agri-based start-ups as well. One such person putting his money where it matters is Jignesh Shah– more popularly known as the “Exchange Man”.
After successfully setting up 10 exchanges in 10 years, making some of them the biggest exchanges in the world today. He not only believes, but most definitely knows having seen the industry closely for over two decades the value it holds. He feels that even just one project based on the Agri industry – for example the proposed Agri-Grid via e-Nam that would bring the entire agriculture and commodities ecosystem into one integrated market platform has enough potential to create 10 crore new jobs!
The management of this large ecosystem platform of Agri-Grid and associated data will be valuable in making the decision to trade in spot, forward, store, harvest commodities, global trading etc. Thus, a central repository in the form of a robust secured encrypted data management system (through use of block chain technology), will be the heart of the whole network.
The network can connect users by apps, web platform, tele-callers etc. The economic size of the consolidated marketplace and support infrastructure will be so significant that it will attract global investment interest in the much-deprived agriculture sector. Hence, linkages with banking and financial markets are an integral part of the whole system.