Digital Revolution in Indian Agriculture: 40% Farmers Embrace Electronic Payments

India's agricultural sector is witnessing a digital transformation, with 40% of farmers now opting for electronic payments, according to a recent McKinsey survey. This shift marks a significant departure from traditional cash-based transactions, reflecting the growing adoption of digital technologies in rural India.

 

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However, the survey also reveals that farmers still largely rely on traditional farming methods, showing reluctance to fully embrace modern agricultural technologies. The government's focus on agri-tech in the recent budget, with initiatives to improve the use of AI, IoT, and satellite data in agriculture, aims to address this gap.

 

As digital transactions become the norm in India's agri-trade, experts anticipate improved financial inclusion and efficiency in the agricultural sector.

 

Sources: Business Standard, Bajaj Broking, FNB News, March 25, 2025