India’s agriculture technology sector has the potential to grow manifold to $24.1 billion in the next five years, according to a new report. With a turnover of $204 million, India’s agri-tech sector is at under 1% of its market potential today. A big chunk of the gains will likely be made by companies addressing supply chain and financial services solutions, driven by the availability of affordable high-speed internet and maturing of India’s digital content ecosystem, the EY report on India’s agri-tech potential said. The report has also forecast consolidation in the agri-tech space along with startups expanding horizontally to service the end-to-end needs of farmers within the next few years. “Attractive market opportunity, nascency in investment funding and minuscule penetration by incumbent agritech players offer an opportunity for established players such as institutional retailers, e-commerce players and food processing companies to create impact at scale,” said Ankur Pahwa, partner and national leader – e-commerce and consumer internet at EY India.