Unlocking the Potential of Agriculture B2B Trade Portals for New Startups

 

The agricultural sector in India is at a turning point. When India gained its independence from Britain 75 years ago, agriculture dominated the economy and accounted for more than 50% of its GDP. India continues to be one of the largest and most diverse food producers in the world, and agriculture—which accounts for more than 20% of India's income—remains a key sector of the country's economy.

However, serious issues prevent the country from reaching its full potential. If the problem could be resolved, a thriving agriculture sector would benefit the economy and greatly enhance farmer livelihoods and income. With a 50% increase from its contribution in 2020, agriculture could contribute about $600 billion to India's GDP by 2030. To get there, though, India must boost the sector's productivity and growth. Let us discuss the potential of agriculture B2B trade portals for new startups.

Indian agriculture has already benefited from Ag Tech

The number of agtech start-ups in India increased from less than 50 in 2013 to more than 1,000 by 2020, thanks to growing farmer awareness, increased internet access in rural areas, and the need for increased efficiency in the agricultural industry. 3 Additionally, the regulatory environment in India is gradually changing to support the expansion of digital technologies in agriculture.

Agtech in India is still growing, with innovations coming from both start-ups, or "agri fintechs," and major technology firms. Core companies in the value chain are using digital technologies like "super apps" to innovate and recognise the potential of agriculture B2B trade portals for new startups.

Suppliers are evolving into buyers, and financial services are being added by advisers

1) Agrochemical, fertiliser, and seed suppliers are utilising technology to develop direct-to-farmer sales channels that eschew middlemen and retailers. For instance, through its digital platform, nurture.farm, UPL (traditionally a core player in agrochemicals) offers mechanization services and agrochemicals to farmers. Additionally, the business has grown to offer market, advisory, and financing services.

2) Businesses, including banks and nonbanks, that specialize in lending money through farm and rural loans are utilising technology to better understand farmers, offer specialized products, and lower the risk of loans. As an illustration, the State Bank of India (SBI) created the YONO Krishi app to address the financial, input, and advisory needs of farmers.

3) Farm equipment retailers have begun offering mechanization as a service to farmers. Mahindra, for example, offers a tractor rental service.

4) Companies that deal with the buying, processing, or selling of agricultural goods have begun to integrate backward into the supply chain and build connections to the farmer's market. For instance, over the past 20 years, ITC, a core output player, has expanded direct-from-farm procurement using its e-Choupal network. The super app for ITC MARS has now been released. The app gives farmers access to contemporary equipment, high-quality inputs at reasonable prices, and financing through a partnership model.

Agriculture's potential B2B trade portals for emerging businesses

1) Wide Range of Customers Available: Startups have immediate access to a broad and diverse customer base made up of potential partners and customers in the agriculture sector thanks to B2B trade portals. As a result, startups are no longer required to make significant investments in creating their own customer networks from scratch.

2) Market Validation and Exposure: Startups can get important market validation and exposure for their goods or services by taking part in an agriculture B2B trade portal. They can increase their visibility and draw in potential clients by showcasing their offerings to a niche market of companies that are only interested in agricultural products.

3) Streamlined Sales and Marketing: B2B trade portals provide startups with a streamlined sales and marketing channel. For startups, they offer a centralized platform where they can create product listings, interact with potential customers, handle inquiries, and carry out transactions. This streamlines the sales procedure and enables startups to concentrate on developing relationships with customers.

4) Partnerships and Networking: B2B trade portals act as platforms for networking, bringing together startups and potential customers, suppliers, and distributors in the agriculture sector. Through these connections, startups may be able to scale their businesses and broaden their reach through valuable partnerships, collaborations, and joint ventures.

5) Reduced Time and Costs: For startups, joining a B2B trade portal for agriculture can greatly reduce the time and costs involved with entering the market. Startups can use the existing platform to reach potential customers, streamline transactions, and hasten their go-to-market strategy rather than developing their own sales infrastructure.

6) Credibility and Trust: Participating in a reputable B2B trade portal helps startups gain credibility and trust. The portal's verified profiles, product reviews, and customer ratings instill trust in prospective customers. This can assist new businesses in breaking through the initial trust barrier and establishing themselves as dependable suppliers in the agriculture sector.

Significant Obstacles for Agritech Startups

1) Information on Pre-harvest and Sowing Activities: Large businesses that rely on agricultural products want details on sowing and pre-harvest activities leading up to harvest. They also need an example of how farming communities can use technology to create benefits that last, like weather alerts on phones, advice on best farming practices, and guidance on how to deal with pest attacks.

2) A Lack of Visibility and Low Productivity: Another factor that has an impact on the agritech industry is low productivity and a lack of visibility in the supply chain. Blockchain technology and artificial intelligence are being used by many startups to address these problems.

3) Governmental Measures: Although the government has changed its agricultural policies, there is still a long way to go.

4) Lack of Commercial Guidance: Many of the existing agri-enterprises are having trouble growing their businesses past a certain point, despite experiencing some initial success. Project incubators typically offer such assistance to start-ups by assisting them with networking, building capacity, gaining access to information and resources, and other types of required expertise. Unfortunately, few of the roughly 300 incubators and accelerators currently in operation possess the knowledge and skills necessary to support farm-oriented businesses.

5) Droughts, Water Availability, and Climate Change: According to trends, the nation is concerned about disaster management, particularly when it comes to drought. To solve these issues, startups should concentrate more on cutting-edge technology.

How can Kisaan Trade assist new startups in maximising the benefits of agriculture B2B trade portals?

For new startups, Kisaan Trade can be extremely helpful in maximising the potential of agriculture B2B trade portals in the following ways:

1) Dedicated Platform for Agriculture: Kisaan Trade targets the agriculture market specifically, giving startups a dedicated space to network with potential customers, suppliers, and collaborators. Startups can benefit from the agricultural expertise and niche audience of Kisaan Trade by joining, increasing their visibility, and gaining access to pertinent opportunities.

2) Access to a Wide Customer Base: Kisaan Trade provides startups with immediate access to a large customer base made up of companies in the agriculture sector. This saves startups the time and effort of starting from scratch when creating their own customer network. Startups can reach a large audience of potential customers and improve their chances of generating sales leads by showcasing their goods or services on Kisaan Trade.

3) Increased Visibility and Branding: Kisaan Trade gives startups a platform to build a thorough profile showcasing their products, business details, and domain knowledge. The targeted audience benefits from increased visibility and brand recognition as a result. Startups can use the platform's features to highlight their distinctive selling propositions and set themselves apart from rivals, drawing in potential clients.

4) Opportunities for Networking and Collaboration: Kisaan Trade promotes networking and cooperation between start-ups and other agriculture sector participants. Startups have the opportunity to connect with potential partners, suppliers, distributors, and service providers, paving the way for fruitful partnerships and collaborations. Startups may be able to do this to increase their reach, gain access to resources, and find new growth opportunities.

5) Market Trends: Kisaan Trade might provide market trends, analytics, and insights tailored to the agriculture sector. Startups have access to information on consumer preferences, market trends, pricing dynamics, and market demands. Startups can use this information to understand the market environment, spot opportunities or gaps, and modify their strategies to meet changing customer needs.

Conclusion

In conclusion, Kisaan Trade is a useful B2B platform created especially for the agriculture sector. It functions as a specialized platform that links farmers, vendors, distributors, and other companies engaged in the agricultural industry. Businesses, especially startups, can access a wealth of advantages and opportunities by joining Kisaan Trade.

With immediate market access and exposure to potential buyers in the agriculture sector, Kisaan Trade gives startups access to a large customer base. The platform improves visibility and branding, enabling startups to present their goods or services to a specific audience and stand out from rivals.

You can reach out to us at any time with questions or for more information.