True Prosperity Will Be Found in the Embrace of the Digital Economy. These Farmers Prove It

By Tara Nathan Executive Vice-President, Humanitarian and Development, Mastercard
Jan 20, 2023 4:15 PM ET
Farmers pick crops by hand
For farmers, the embrace of digitization has been transformational. Image Courtesy of World Economic Forum

Originally published by World Economic Forum on January 20, 2023

  • Digital agriculture platforms such as Farm Pass are helping millions of farmers in rural areas access fair prices and credit to grow their businesses.
  • Scaling these types of life-changing digitization programs is vital given the potential for their far-reaching economic impact across the world.
  • Empowering entrepreneurs and small businesses to embrace the digital economy can help foster inclusive, sustainable economic growth.

In India, farmer Saravanan Madhavan digitally connects with buyers to sell his crops. Payments are credited to his account the same day. It’s a welcome departure from how other farmers like him get paid: often late and only partially.

Buyer Ramesh Kumar once trekked through fields to find farmers. Now, technology helps him locate and purchase the exact produce he needs at the best price, saving him time and money on travel.

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