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Indian Agriculture Industry Analysis

February, 2017

At 157.35 million hectares, India holds the second largest agricultural land in the world. With 20 agri-climatic regions, all 15 major climates in the world exist in India. India is the largest producer of spices, pulses, milk, tea, cashew and jute; and the second largest producer of wheat, rice, fruits and vegetables, sugarcane, cotton and oilseeds. Further, India is second in global production of fruits and vegetables, and is the largest producer of mango and banana. It also has the highest productivity of grapes in the world.

Total food grains production in India reached an all-time high of 251.12 million tonnes (MT) in FY15 (as per 3rd Advance Estimates). Rice and wheat production in the country stood at 102.54 MT and 90.78 MT, respectively. India is among the 15 leading exporters of agricultural products in the world.

The Government plans to revamp the old model Agriculture Produce Marketing Committee Act (APMC Act) and carve out the provisions on contract farming into a separate law to form a new Contract Farming Act.

Minimum wage for unskilled agricultural labour in C-class towns in central sphere has been fixed at US$ 5.28 (Rs 350) per day by the Government, effective from November 2016.

The Government of India has introduced several projects to assist the agriculture sector. They are Pradhanmantri Gram Sinchai Yojana: The scheme aims to irrigate the field of every farmer and improving water use efficiency to achieve the motto `Per Drop More Crop’. Overall the scheme ensures improved access to irrigation.

Paramparagat Krishi Vikas Yojana (PKVY): The scheme aims to motivate groups of farmers to take up organic farming.

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