Indian Agriculture Sector Grows By 4.6 percent in Last Six Years

The Indian agriculture industry has grown at an average annual growth rate of 4.6% over the past six years, according to the survey, which Finance Minister Nirmala Sitharaman presented in the Lok Sabha. In comparison to the 3.3% growth in 2020–21, it increased by 3.0% in 2021–22.

India has quickly emerged as the world's largest exporter of agricultural goods. India's exports of agricultural and related goods increased by 18% in 2020–21 compared to the previous year. The value of agricultural exports peaked in 2021–2022 at US$ 50.2 billion.

This period of strong performance may be attributed to the government's initiatives to support farmer-producer organizations, stimulate crop diversification, and increase agricultural production through support for automation and the establishment of the Agriculture Infrastructure Fund.

But the survey made clear that given a number of issues, including the negative effects of climate change, fragmented landholdings, inadequate precision farming, poor productivity, covert unemployment, growing costs of production, etc., Indian agriculture ought to shift course.

The survey also revealed that the nation's employment and economic growth depend on how well the agricultural sector performs. By providing loans in an accessible, timely, and equitable way, the sector must be motivated to make investments. The government has made major efforts through PM Kisan to provide income support, the PMFBY (Pradhan Mantri Fasal Bima Yojana) to boost institutionalized financing and coverage, the Kisan Credit Cards initiative, and exposure to apparatus and equipment that increase production.

Farmers' incomes have become more varied as a result of the emphasis on the horticulture industry and the push toward related industries, making them more resilient to weather shocks. The sector has developed sustainably and inclusively as a result of all these activities.

The findings of the survey also show that putting more effort into the growth of the food processing industry can lower wastage and losses and lengthen storage times, resulting in higher prices for farmers. To boost the agricultural market, measures like e-NAM and the promotion of Farmers' Producer Organizations have been implemented.

In an effort to strengthen the food processing industries and capitalize on their connections to the agricultural sector, interventions such as the Pradhan Mantri Kisan SAMPADA Yojana (PMKSY), Pradhan Mantri; Formalization of Micro Food Processing Enterprises Scheme (PMFME), and Production Linked Incentive Scheme have been implemented.