An Analysis of Financial and Technological Factors Influencing AgriTech Acceptance in Bengaluru Division, Karnataka

In 2023, India surpassed China to become the world's most populated nation. This demographic surge has precipitated an escalating exigency for sustenance as populace burgeons unabatedly. To satiate this burgeoning demand there arises an imperative to augment yield of agriculture commensurately. It is pertinent to acknowledge that as per Global Hunger Index of 2019, India occupies disconcerting rank of 102 amongst consortium of 117 nations when gauged by severity of hunger quantified through Hunger Severity Scale with disquieting score of 30.3. Aspiration of attaining utopian objective of zero hunger by 2030 as promulgated by Sustainable Development Goals appears to be quixotic endeavor seemingly beyond realm of plausibility. In this milieu agricultural technology (AgriTech) enterprises within India present veritable opportunity to invigorate agricultural sector. Agrarian landscape of India has been undergoing profound metamorphosis owing to technological renaissance that has permeated nation facilitated by innovative solutions proffered by nascent corporate entities. State of Karnataka stands as an epicenter of sorts for AgriTech enterprises within India. In this study we meticulously scrutinize impact wielded by financial factors on adoption of AgriTech solutions by agrarian stakeholders and elucidate technological determinants that actuate embracement of AgriTech within this demographic. The study uses descriptive statistics and chi-square analyses to rigorously assess predefined objectives. Geographic ambit of this inquiry encompasses regions of Chikkaballapura and Doddaballapura Taluks situated within Bengaluru division of Karnataka in 2022. The empirical revelations distinctly illuminate that individuals vested with access to technological and financial resources exemplified by parameters such as annual household income, accessibility to commercial banking services, cooperative financial institutions, mobile telephony, internet connectivity and Global Positioning System (GPS) technology exhibit palpable predilection for integration of AgriTech solutions into their agrarian practices.