Dr. Reet Kamal Tiwari (IIT Ropar), Shri Jagjit Singh Kochar (KBK), Shri Devendra Kaushik (KBK), Sebastian Glink (CelsiusPro) sign the MoU.
- The consortium will provide crop yield modelling throughout the globe.
- IIT Ropar will provide all remote sensing-based data inputs, parameters and will develop machine learning models using Artificial Intelligence and Deep Learning for crop yield prediction and estimation in India.
- IIT Ropar will provide field data about the soil health parameters, soil type, land parcel boundary and would develop a mobile app for use by farmers to store and send crop and soil-related on-ground data.
- CelsiusPro will set up a front-to-back platform from pricing, policy management and settlement to climate and NatCat monitoring for enabling seamless settlement of Claims Under various Fasal Bima Yojna.
- IIT will Set-Up and do the operation of Crop Yield Estimation System on village/block level in India which will be used by CelsiusPro as Input for the platform for the monitoring, estimation and calculation of loss based on average yield forecast at farmland parcel-level.
The writing is on the wall – for the first time, environmental and climate change-related risks occupy the top five spots in the Global Risks Report 2020, issued by the World Economic Forum (WEF).
The last five years are on track to be the warmest on record, natural disasters are becoming more intense and more frequent, and last year witnessed unprecedented extreme weather throughout the world. Climate change is progressing more rapidly than many expected – a fact that is reflected in the WEF Global Risks Report 2020.