Agriculture is the biggest source of economy, employment and revenues for India. India has abundance of arable land and water which made India a healthy destination for agriculture. From Ancient time, India was a favorable trade partner of food products, clothing and accessories. India was the most important center in silk route which starts from Europe and goes to China.
India is the 2nd largest farm producer, 7th largest exporter and 6th largest importer as well. Food grain production touched 257 million tons in 2014 which is expected to be 251 million tons in 2015 because of low rainfall in this year. Production of food grains increased with a CAGR of 4.10% from 2010 to 2015 and is expected to grow at 2.45% till 2020.
India is the world leader in the production of the Mango, Banana, Papaya, Lemon, Guava, Jackfruit, Pomegranate, Jute, Cotton, Millet, Pulses, Chili, Chickpea, Ginger and Safflower. India is also 2ns largest producer of Rice, Wheat, Cucurbit, Dry Beans, Onion, Cabbage, Cauliflower, Broccoli, Eggplant, potato, tomato, pumpkin & gourd, sesame, sugarcane, tea, peanut, tobacco and Silk. Massive agriculture production have resulted into high growth of the country. More than 21% of population in India is engaged in agricultural processes.
India is almost fully self-sufficient in providing for the needs of its citizens, so the development of unutilized land area will go in exports. India is the world leader in many products which are high value items and are demanded and consumed mainly by the industrialized nations of the world and whose demand continues to go as world income rises. India has some advantages like self-sufficiency which cannot be overlooked and the underutilized capacity makes it an even more attractive destination for agriculture investment.
Growth in household income and food consumption, growing organic farming, expansion in the food processing sector and increase in exports, rise in private participation in agriculture and use of information technology are some of the key trends in the agriculture industry in India.
In budget of 2015-16, government of India allotted US$ 815 million for various schemes related to agriculture. India have signed 52 MOUs/agreements with various countries for the development of agriculture in India. The Agriculture Market in India is expected to grow at a CAGR of till 2020.
What the report offers
The study identifies the situation of India and predicts the growth of its Agriculture Market. Report talks about growth, market trends, progress, challenges, opportunities, government regulations, technologies in use, growth forecast, major companies, upcoming companies and projects etc. in the Agriculture Sector of India. In addition to it, the report also talks about economic conditions of and future forecast of its current economic scenario and effect of its current policy changes in to its economy, reasons and implications on the growth of this sector. Lastly, the report is segmented by types of products.