The Indian company AquaConnect showed their App and services for shrimp farmers in the international event InFinity

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AquaConnect, India’s trusted aquaculture platform, participated in InFinity, the financial technology and global thought leadership event from the International Financial Services Centres Authority (IFSCA) a few days ago. The Indian Company showcased technology there that provides end-to-end solutions to shrimp and fish farmers with AI and satellite remote sensing technologies.

The Prime Minister of India, Narendra Modi inaugurated via virtual conference the InFinity Forum, a 2-day thought leadership Forum on FinTech. The event was hosted by International Financial Services Centres Authority (IFSCA) under the aegis of Government of India (GoI) in collaboration with GIFT City and Bloomberg. Indonesia, South Africa and the UK are partner countries in the first edition of the Forum.

Modi emphasized that “the future of FinTech and Industry 4.0 is emerging in India. Just as India will learn from others, we will share our experience and expertise with the world. Because, what drives India also holds hope for others. And, we dream for India is what we also wish for the world. This is a common journey for all.”

InFinity was held over two days and has united world’s leading minds in policy, business, and technology to discuss and come up with actionable insight into how technology and innovation can be leveraged by the FinTech industry for inclusive growth and serving the humanity at large. Aquaconnect was proud to showcase its FinTech solutions helping numerous aquaculture farmers at the FinTech Showcase as part of the two-day event.

Helping improve the farm productivity

AquaConnect showcase their App, that captures pond data to provide data-driven farm advisory to help farmers improve their farm productivity up to 15% and reduce losses. It uses deep learning to provide context-aware alerts & suggestions to improve water quality, aquatic health and optimize feed consumption.

“Our Pond Diary feature –an open-ended data capturing- platform make farmers to capture all farm activities in multi-media format. AI decodes the farmer’s inputs and automate the farm advisory throughout culture cycle.”

Also, AquaConnec offers a go-to-store for all aquaculture needs. “Our omnichannel platform offers feed, healthcare products and farm equipment directly from manufactures at best prices. Farmers can also order through our toll-free for hassle-free ordering. We provide free-door step delivery at more than 19000 pincodes across India,” they explain.

India’s aquaculture industry is estimated to be worth $33 billion and is growing at 10% a year.

The shrimp sector is expanding particularly fast, driven by strong export demand making India the world’s second-largest producer of farmed shrimp. “Despite this surging demand and a strong growth rate, aquaculture farmers in India lack access to formal credit and insurance,” they report in their website.

“Through unique tech solutions that involve intelligent data gathering and assessment, Aquaconnect is making access and enablement of formal financial services easier for farmers as well as financial institutions.”

The company based in Tamilnadu, India, also offers to their clients Aquahubs, “one-stop shop for all aquaculture needs”.

Aquahubs are last-mile touchpoint to get connected with farmers within the vicinity of farms. “These multi-purpose centres help farmers to avail all our services like farm enrolment, farm input purchase, crop finance, sell harvest produce & technology handholding”.

SpaceTech, GreenTech and AgriTech

The agenda of the Forum FinTech was focused on the theme of ‘Beyond’ with various sub themes including: FinTech beyond boundaries with governments and businesses focussing beyond the geographical boundaries in the development of global stack to promote financial inclusiveness; FinTech beyond Finance by having convergence with emerging areas such as SpaceTech, GreenTech and AgriTech to drive sustainable development; and FinTech Beyond Next with focus on how Quantum Computing could impact the nature of Fintech industry in the future and promote new opportunities.

Each of the themes extends the realm of FinTech beyond boundaries, keeping in line with the overarching spirit of the event, and AquaConnect seized the opportunity.

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