| Agriculture in India is one of the most prominent sectors in its economy. Agriculture and allied sectors like forestry, logging and fishing accounted for 16.6% of the GDP in 2007 and employed 60% of the country's population. It accounts for 8.56% of India's exports. About 43% of India's geographical area is used for agricultural activity. Despite a steady decline of its share in the GDP, agriculture is still the largest economic sector and plays a significant role in the overall socio-economic development of India. The monsoons play a critical role in the Indian subcontinent's agriculture in determining whether the harvest will be bountiful, average, or poor in any given year. The entire rainfall in the sub-continent is concentrated in the few monsoon months.
India is world's second largest producer of food and a country with a billion people. From canned, dairy, processed, frozen food to fisheries, meat, poultry, food grains, alcoholic beverages & soft drinks, the Indian agro industry has dainty areas to choose for business.
The Indian Agriculture Industry is on the brink of a revolution that will modernize the entire food chain, as the total food production in India is likely to double in the next ten years.
Major exports from India are Basmati & Non Basmati Rice, Sugar, Wheat, Soya Bean Meal, Pulses, Spices, Tea, HPS ( Ground Nut) Sesame Seeds, yellow Corn Maize, Slat Dry Fruits / Iron Ore Fines etc. Exports are primarily destined to South & West Africa, far East Asia, Middle East, Europe and North America. The quantity of rice & wheat export last year is to the tune of 5,00,000 MT valuing over Rs. 3.00 Billion, accounting for about 9% of country's total Rice & Wheat exports. Major imports are Logs and Pulses from Far East Asia.
As per the recent studies the turnover of the total food market is approximately Rs.250,000 crores (US$ 69.4 billion) out of which value-added food products comprise Rs.80,000 crores (US$ 22.2 billion). The Government of India has also approved proposals for joint ventures, foreign collaborations, industrial licenses and 100% export oriented units envisaging an investment of Rs.19100 crores (US$ 4.80 billion) out of which foreign investment is over Rs. 9100 crores (US$ 18.2 Billion). The agricultural food industry also assumes significance owing to India's sizable agrarian economy, which accounts for over 35% of GDP and employs around 65 per cent of the population. Both in terms of foreign investment and number of joint- ventures / foreign collaborations, the consumer food segment has the top priority. The other attractive features of the indian agro industry that have the capacity to lure foreigners with promising benefits are the deep sea fishing, aqua culture, milk and milk products, meat and poultry segments.
Excellent export prospects, competitive pricing of agricultural products and standards that are internationally comparable has created trade opportunities in the agro industry. This further has enabled the Indian Agriculture Industry Portal to serve as a means by which every exporter and importer of India and abroad, can fulfill their requirements and avail the benefits of agro related buy sell trade leads and other business opportunities. |
