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Agro Universities, India, Interaction, R&D

In an exclusive interview with AgroSpectrum, Dr Dinesh Kumar Chauhan, the recently appointed CEO of ICRISAT’s Agribusiness and Innovation Platform, discusses recent advancements in the AIP programme and how it can strengthen the agri-ecosystem.  Edited excerpts:

The International Crops Research Institute for the Semi-Arid Tropics (ICRISAT), has developed the Agribusiness and Innovation Platform (AIP), for agricultural and agribusiness industries. AIP offers a nurturing and empowering atmosphere through its network of experienced mentors, investors, and stakeholders. In an exclusive interview with AgroSpectrum, Dr Dinesh Kumar Chauhan, the recently-appointed CEO of ICRISAT’s Agribusiness and Innovation Platform, discusses recent advancements in the AIP programme and how it can strengthen the agri-ecosystem.  Edited excerpts:

As the new CEO of the Agribusiness & Innovation Platform (AIP) at ICRISAT, what are your plans for this platform in the coming years?

The role of AIP in the broader scheme of things, is to create, leverage, and aggregate programmes and services to promote agribusiness and enhance partnerships through entrepreneurship development, innovation, and value addition for accelerated agricultural growth in the drylands. AIP operates in three modules, namely Agribusiness Incubator (ABI), Innovation and Partnership (INP) and Nutri-Plus Knowledge (NPK).

ABI supports startups and SMEs to successfully enter markets, by providing technical, research and infrastructural support services and also help scale-up agri-businesses with global connect through soft-landing services.

INP develops collaborative partnerships with public, private, and allied sectors for agribusiness and entrepreneurship development across value chains. The aim is to improve the livelihoods of   small- farmers, with special focus on women to help them thrive as independent, self-sufficient and valuable members of their communities.

NPK focuses on value addition, post-harvest management, nutritional study interventions, nutritional and health claim validations along with food safety awareness in the agri-food sector through innovative processing, product/ technology development and capacity development.

The Intellectual Property Facilitation Cell (IPFC) provides IP protection, advisory, and technology transfer services for SMEs to enhance their competitiveness.

These existing programmes enhance agricultural resilience and improve farmers’ lives. We aim to maximise their potential, adapt to new opportunities, and establish our platform as a global hub for all our incubation centres. Our goal is to be recognised as a world leader in agribusiness incubation. Additionally, we plan to create a Center of Excellence in Food Processing with a focus on alternative proteins. 

What are some of the value chain projects that AIP has worked on in the past or is currently working on?

AIP has implemented a supply chain management project under the aegis of the Government of Tamil Nadu in 10 districts of the State. The project entailed creating primary and secondary processing units for fruits and vegetables through establishment of effective backward and forward linkages. It was also successful in developing the key crop value chains by adopting digital solutions.

Another project, funded by the Walmart Foundation, was focused on accelerating value chain benefits for improved income for small farmers and nutrition for consumers. The project adapted innovative methods through end-to-end value chain interventions along with establishment of kitchen gardens, women-led Farmer Producers’ Company (FPC), four primary processing units for ground nut and pigeon pea and a secondary processing unit for manufacturing millet-pulse-groundnut based ready-to-cook and ready-to-eat foods.

We are currently implementing a supply chain management project for fruits and vegetables in Odisha and are involved in building a value chain for millets in Bihar. With the Assam government, we’re implementing the Millet Mission.

Similarly, in Africa, ICRISAT has developed and implemented novel agribusiness entrepreneurship promotion models in 12 African countries in partnership with a diverse set of stakeholders from the agricultural and rural development ecosystem.

To read more click on : https://agrospectrumindia.com/e-magazine

In an exclusive interview with AgroSpectrum, Dr

Finance, India, Opinions, Schemes - Banks, Schemes - Govt

By Anuj Kumbhat, Co-Founder & CEO, WRMS

Agriculture, the backbone of economies worldwide, faces numerous challenges, from unpredictable weather patterns to market volatility. In recent years, the importance of agricultural insurance has grown significantly, providing farmers with financial security against these risks. With the global agri-insurance market on the rise, Indian insurance companies stand at the threshold of immense opportunity. Let’s explore the burgeoning prospects for Indian agriculture insurance companies in the international arena.

Growing Significance

Agricultural insurance plays a pivotal role in safeguarding farmers’ livelihoods and ensuring food security. It provides a safety net against crop failures, natural disasters, pests, and price fluctuations, thereby fostering resilience in the agricultural sector. As climate change exacerbates weather-related risks, the demand for robust insurance solutions continues to escalate globally.

Opportunities 

Technological Innovation: Indian agriculture insurance companies can leverage technological advancements to offer more efficient and tailored insurance products. Innovations such as satellite imaging, remote sensing, and data analytics enable better risk assessment, streamlined claims processing, and proactive risk management. By embracing these technologies, Indian insurers can enhance their competitiveness in the global market.

Microinsurance and Inclusive Growth: The global agricultural insurance landscape includes diverse farming communities with varying needs and resources. Indian insurers have expertise in microinsurance models, catering to smallholder farmers and marginalised rural populations. By promoting inclusive insurance schemes, Indian companies can expand their reach and contribute to sustainable development goals on a global scale.

Public-Private Partnerships: Collaborations between government agencies, international organisations, and private insurers are instrumental in scaling up agricultural insurance coverage. Indian companies can leverage their experience in public-private partnerships (PPP) to enter new markets and co-create innovative risk-sharing mechanisms. By forging strategic alliances, Indian insurers can navigate regulatory complexities and access untapped opportunities abroad.

Climate Resilience and Sustainable Agriculture: With climate change posing unprecedented challenges to agriculture, there is a growing emphasis on building climate resilience and promoting sustainable farming practices. Indian insurance companies can develop insurance products incentivising farmers to adopt climate-smart techniques, such as agroforestry, precision farming, and water-efficient irrigation. By aligning insurance incentives with sustainable agriculture goals, Indian insurers can differentiate themselves in the global market.

Market Diversification: While India represents a vast domestic market for agriculture insurance, international expansion offers significant growth prospects for Indian insurers. Emerging economies with agrarian economies similar to India’s present attractive opportunities for market penetration. By diversifying their geographical footprint, Indian insurers can mitigate concentration risks and tap into new revenue streams.

To read more click on :https://agrospectrumindia.com/e-magazine

By Anuj Kumbhat, Co-Founder & CEO, WRMSAgriculture,

Finance, India, Industry Reports / Analysis, Schemes - Banks, Schemes - Govt, Schemes - NABARD

Both the government and private insurers are recognising the potential of index-based insurance. Collaborative efforts and technology startups specialising in agri-tech are leading the way in fine-tuning and promoting these innovative insurance solutions. In an era of digitisation, technology is pivotal in refining index-based insurance. Satellite data aids accurate monitoring of weather patterns, while AI algorithms can help predict and set appropriate indices. Let’s explore how tech-driven crop insurance and the leveraging of AI in insurance payouts is poised to disrupt the crop insurance landscape in India.

India, like many other countries, faces challenges such as weather fluctuations, pest attacks, erratic rainfall, and humidity, affecting agricultural produce. These factors lead to lower yields and income for farmers each year. Between 2015 and 2021, India lost 33.9 million hectares of cropped area due to floods and excess rains and 35 million hectares due to drought. To address this, the government of India is increasingly considering “parametric” insurance or weather-based index insurance, which relies on predefined parameters to trigger a payout. This helps overcome the shortcomings of indemnity-based insurance by directly linking the compensation to specific parameters rather than farmers’ actual loss. The results are reduced transaction costs, greater transparency, and a faster processing time. Weather-based index insurance can rely on remotely sensed weather data to determine a threshold level of weather variables. Both the government and private insurers are recognising the potential of index-based insurance. Collaborative efforts and technology startups specialising in agri-tech are leading the way in fine-tuning and promoting these innovative insurance solutions. In an era of digitisation, technology is pivotal in refining index-based insurance. Satellite data aids accurate monitoring of weather patterns, while AI algorithms can help predict and set appropriate indices. Let’s explore how tech-driven crop insurance and the leveraging of AI in insurance payouts is poised to disrupt the crop insurance landscape in India.

Currently, the Pradhan Mantri Fasal Bima Yojana (PMFBY) is in force as the flagship crop insurance scheme in India. Operated under the ambit of the Ministry of Agriculture & Farmers Welfare, it has gained high momentum and acceptability, providing constant financial protection to farmers in the event of crop failure or damage due to unforeseen climatic changes. The PMFBY serves as a safety net to the farmers supporting them on production risks, which vary from pre-sowing to post-harvest stages and is the biggest risk mitigation tool to support farmers in India in the event of loss of crops due to natural calamities or climate changes. The scheme has undergone many modifications for better implementation and since its inception in 2016, PMFBY has served as the best risk protection financial tool for farmers.

The PMFBY has gained momentum by earning the trust and confidence of farmers across the nation and is implemented in all 27 States/UTs in one or other season. Currently, PMFBY is the largest crop insurance scheme in the world in terms of farmer enrolments with an average of 3.15 crore farmers/year having covered nearly 57 crore farmer applications for a sum insured of over Rs 15.99 lakh crore since 2016 kharif onwards.

Farmer enrolment is estimated to increase by 23 per cent in 2023-24 against 2022-23 and shall reach 3.75 – 4 crore with more than 13 crore farmer applications for the year. Down the line, PMFBY has become 3rd largest scheme in the world, in terms of insurance premiums and the graph is going up every year, earning the trust and acceptability of the scheme by farmers and other stakeholders through various farmer friendly modifications and technological innovations and interventions.

In the past eight years of implementation of PMFBY, 56.80 crore farmer applications have been enrolled and over 23.22 crore farmer applicants received claims. During this period, nearly Rs 31,139 crore were paid by farmers as their share of premium against which claims of over Rs 1,55,977 crore have been paid to them. Thus, for every Rs 100 of premium paid by farmers, they have received about Rs 500 as claims.

PMFBY is a demand driven scheme and is voluntary for the states as well as farmers. The number of farmer applications has grown 33.4 per cent and 41 per cent year-on-year during 2021-22 and 2022-23, respectively. Furthermore, during the year 2023-24, there is an increase of 27 per cent in terms of farmers enrolled under the scheme. Also 42 per cent of total farmers insured under the scheme in FY 2023-24 are non-loanee farmers.

Leveraging Technologies 

The PMFBY recognises the need for technological interventions in crop insurance to make the insurance mechanism more efficient, transparent and farmer-friendly. Considering the complexities associated with Indian agriculture such as small and scattered land holdings, very high eco-geographical variability, yield variability and weather aberrations, it is imperative that technologies are effectively used to increase the efficacy and effectiveness of the insurance sector. For effective implementation of the PMFBY several technological options have been proposed by the NITI Aayog after it deliberated on the subject “Use of Technology for Agriculture Insurance” with almost 100 leading experts in 2016. The Task Force proposed the use of remote sensing technologies (satellite and Unmanned Aerial Vehicles − UAVs), smart-phones, digital photography, new statistical techniques and modelling approaches, and IT/ICTs.

To enhance farmers’ access to crop insurance under the PMFBY, the Ministry of Agriculture & Farmers Welfare (MoAFW), Government of India has been working with the United Nations Development Programme (UNDP) since 2018. The goal of the partnership project is to build a sustainable and climate resilient agriculture sector with increased incomes, secured livelihoods, and a better quality of life, particularly for small, marginal and women farmers. Building on the learning and success of phase I (2018-2022), the partnership was renewed for the duration of 2023-2026, with an expanded mandate of access to agricultural credit and insurance.

The MoAFW and the UNDP have signed a Memorandum of Understanding (MoU) in May 2022 to enhance the implementation of PMFBY and Kisan Credit Card – Modified Interest Subvention Scheme. Under the MoU, UNDP will leverage its expertise in systems and global know-how for supporting the government for the implementation of combined agriculture credit and crop insurance.

In July 2023, the UNDP India signed another MoU with Absolute Foods, a leading bioscience company specialising in agri-tech, to enhance the implementation of the PMFBY and the Restructured Weather Based Crop Insurance Scheme (RWBCIS) by building technical capabilities of the scheme and digitising service delivery of crop insurance and agricultural credit processes to increase reach and uptake of the schemes. It will also promote credit profiling of farmers, agri-entrepreneurs, and Farmer Producers Organisations (FPOs), for accurate crop loss assessment and risk evaluation to mobilise agriculture financing.

In July 2023, the MoAFW launched new initiatives under PMFBY and RWBCIS, such as Yield Estimation System, based on Technology (YES-TECH) Manual, a technology-driven yield estimation system, offering methodologies, best practices, and integration insights for accurate yield assessments at the Gram Panchayat level, Weather Information Network Data Systems (WINDS) portal, a centralised platform that hosts, manages, and processes hyper-local weather data collected by Automatic Weather Stations and Rain Gauges at Taluk/Block and Gram Panchayat levels and door to door enrollment app AIDE/Sahayak, aims to revolutionise the enrolment process, bringing it directly to the doorstep of farmers, marking a turning point in India’s crop insurance landscape.

To read more click on: https://agrospectrumindia.com/e-magazine

Both the government and private insurers are