Review on Disruptive Technologies in Agriculture based Small and Medium Enterprises in Sri Lanka

Abstract

In both developed and developing countries across the world, SMEs form an important fragment of the local economic system. In Sri Lanka, for instance SME contribute about 75% percent of businesses and contribute 52% percent of GDP. With the technological development, developed and developing societies are stepping by themselves into an era of a knowledge-based economies, indicating knowledge as the most important capital for all nations to propel socio-economic development. Having understood this fact, successive governments in Sri Lanka have taken various steps, from time to time, to promote this vital sector since independence. But, when analyzing the present contribution of this sector in the national economy, it is clear that the sector has not achieved desired level of contribution when compared with other developed and developing countries in the region. This is because of the lesser opportunities in adapting disruptive innovations by SMEs including agri based SMEs with the knowledge demanding society. So, there seems to be a vast opportunity for Sri Lanka to harness the opportunity by developing this vital sector through inventing on disruptive technologies. So, the objective of this paper is to provide a brief overview of the disruptive technology in agri based SME sector in Sri Lanka, and to make suggestions for enhancing the technological enhancement of agri based SMEs for a sustainable agriculture development in Sri Lanka.