India has always remain a nation that known for its agriculture and majorly of the citizens depends on the age old occupation to survive. The sector still faces a lot of challenges in terms of growth, revenue, technological advancements, degradation of natural resources and climate change. The nation’s strategy to boost service and manufacturing has ensured that GDP grows rapidly, however slower agricultural growth has not been able to help the farming community much.

The rural distress has increased over the years and the sector needs a second green revolution to adapt to climate change. Every year we celebrate Kisan Diwas in the country on the birth anniversary of former Prime Minister Chaudhary Charan Singh. As of today agriculture remains the primary occupation of majority of the people, despite attraction from the service and manufacturing sectors. Agriculture income generation has been a challenge and will continue to be untill concrete steps are taken to boost the sector. Fiinovation understands that more private sector money has been invested to upgrade the status of the sector. However, there are still numerous opportunity that is yet to be tapped.

Fiinovation reviews with new challenges knocking at the door steps, the agriculture sector will need another second revolution that changes the landscape of the sector. Growth can only be achieved there is higher productivity, lower crop damages and reduced wastage. Improvement in quality is also a concern with organic crops fetching more money at global markets. Along with this there are other issues such as adapting to climate change, crop insurance etc. Farmer suicides is a problem in India that is often spoken about yet there has not been a stop to this menace. Most of the farmers committing suicides belongs to the lower castes with not much social security.

So, is it all good for the farmers in India? Fiinovation reviews that to improve the situation, the private sector needs to play a pro-active role. The government has its means of operation and is doing its best. However, the private sector needs to step up to the occassion whether through direct intervention or through CSR. Fiinovation recommends CSR livelihood projects addressing the challenges with proper value of chain management of crops and agro-commodities can help reduce wastage, increase efficiency, productivity and generate higher income for the farmers. CSR initiatives in India can help develop agricultural infrastructure such as water harvesting structures, irrigation facilities, warehouses, cold storages, improved transporation systems etc. Fiinovation belives this will strengthen the value chain and should be taken up by corporations as part of nation building.

By Rahul Choudhury
Media & Communications, Fiinovation