A Study on Economic Feasibility of Hydroponic Farming In Bangalore

Abstract

In the present days there is a scarcity for availability of food in that too availability of nutritious food. According to The Global Food and Nutrition Security Dashboard supported by Global Alliance for Food Security, In 2022 over 203.1 million in 45 countries faced food crisis and it is projected to reach 669.1 million by 2030. According to UNO- In India nearly195 million people undernourished which quarter and India ranks 68th among 113 major countries in terms of food security index which is published in Economic Intelligence Unit. This is because of use of pesticides and chemicals, lack of fertile soil, lack of water for farming and even some times scarcity of availability of land for cultivation. To overcome these issues, there is a need of upgrading farming techniques and methods and hydroponics is the best among them. It is not only solution for the above issues but also it of one of the most profit making industry. The initial investment required is high but it can yield great returns out of our investments. Economic feasibility study helps to understand the viability of the hydroponic farming, in this research we are going to analyse the economic feasibility of hydroponic farming in Bangalore. Since the population is 1,80,65,540 and the population density of Bangalore is 24,380/km².The area available for farming is very less, availability of exotic food produce are at expensive prices, and less availability of water for agriculture purpose are the reasons which says that deploying hydroponic method of farming is the best solution for Bangaloreans. It is not only a solution to the consumers but also this is a source of income for the farmers since there will be a higher and faster growth rate of plants, water required is less. There is a high demand for the food produce grown hydroponically because they are healthy, organically grown, nutrients rich and pesticides free. We can able to grow both Desi as well as exotic varieties under hydroponic system which can able to export to other countries....