| | SEPTEMBER, 202419firms are making key investments to digitize the agricultural sector.Firstly, a lot of agritech companies are investing in precision farming, as they see it fit to enhance productivity and lessen environmental impact by applying resources like pesticides, fertilizers, and water more precisely.Then, they are making agricultural equipment and inputs more accessible to farmers.They are handling the last mile of product delivery through technology, while forecasting the supply and demand for inputs using artificial intelligence and data-driven choices.Lastly, agritech companies are investing in developing technology platforms that eliminate middlemen and ensure better profit sharing by bringing farmers and buyers together directly.India is expected to invest $250 billion a year, which is projected to significantly expand its clean energy sector.The Pharma SectorMany Indian pharmaceutical companies are observed to be pouring their funds into technologies like AI, among other digital technologies, to improve patient care, increase efficiency, and eventually cement their place in the global market as a whole. We can take note of technologies like automation, machine learning (ML), predictive maintenance systems, the Internet of Things (IoT), and the idea of linking things to the internet being invested on here by the pharma industry.Besides that, there has also been constant persistence by the Indian pharmaceutical industry to further the incentives from the government to augment its spending in pharmaceutical research and development (R&D) within the nation. As is, the Indian pharmaceutical industry is already engaged in spending more on R&D efforts for drug discovery and selling of medicines. Here, the investment focus tends to lean more on the development of novel chemical entities (NCEs), complicated generics, and biosimilars.The Steel IndustryAn analysis of the Automation, Digitalization and Technology Integration for the Indian Mining and Steel sector foresees that the country's investment in process and digital technologies across the steel value chain could reach a total of $ 2.7 billion. From the government's take, its National Steel Policy 2017 aims to double India's installed steel-making capacity to 300 million tonnes by 2030, making the year 2030 significant for the country's steel sector. It's believed that digital tools could help with compliance in environmental aspects through improved energy efficiency and emission monitoring, according to the report. It also pointed out digital technologies' ability to provide the scalability and flexibility required, which could help get everything in sync with that of the market's changes while keeping the innovation flowing and enhancing worker safety. Additionally, the study pointed out that digital technologies provide the scalability and flexibility required to adjust to changes in the market, spur innovation, and enhance worker safety.The Renewable Energy MarketSimilar to China, India is expected to invest $250 billion a year, which is projected to significantly expand its clean energy sector. By 2030, the country plans to put 500 GW of renewable energy capacity into service, accounting for more than 40 percent of the additional electricity produced. If all goes as planned, India could be at the forefront of the renewable energy transformation, which opens up numerous avenues for investment and economic expansion.In China, clean energy investments grew by 40 percent year over year to $890 billion last year, driving economic development. India is believed to also follow suit, with investments in clean energy emerging as a key factor in the country's GDP expansion. Again, if everything goes according to plan, the industry could raise the GDP by 10 percent and could open up a lot of vocational opportunities, industrial expansion and energy security.
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