New Delhi, Feb. 19 -- A few years back, a fertilizer manufacturer from India carried out an internal survey of farmers in the 40+ age group. A stark finding was that most farmers felt they were not going to bequeath a worthy asset, the plot of land on which they farm, to the next generation.

So why is farm land not a worthy asset anymore? Because of a vicious cycle. Sustaining a family on earnings from a small plot of land is a daunting task. Crop prices and profitability is low, so farmers have little surplus left to invest in the farm, say, to restore soil health and improve crop productivity. Meanwhile, recurring climate shocks such as a drought or a heatwave is an additional risk.

Nearly half of India's workforce is employed in the ...