The agriculture and allied sectors have contributed to 17.3
per cent to India’s Gross Value Added in last five years and the country has
witnessed a stupendous growth in food grains’ production since Narendra Modi
led BJP government came to power.

The records available with Ministry of Agriculture states
that India produced record 278.38 Million tonnes of food grains in year 2017.
The advanced estimates available with the Agriculture department suggested that
the yield of rice reached 2.39 tonnes/hectare while wheat yield touched 2.4
tonnes/hectare in the country, highest among the developing economies.

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Backed by decent monsoon India’s food grain production
increased by 8.7 per cent. Every grain be it rice, pulses or wheat; had a
bumper yield last year. Timely upliftment and payment for the crop by the
Central government and its agencies further propelled the confidence of the
peasants to sky high.

Prime Minister Narendra Modi’s flagship scheme, Pradhan
Mantri Fasal Bima Yojana (PMFBY) also gave confidence to the agriculturists
that the current regime cares for them and it will ensure that farmers should
not suffer because of government policies. The central government agencies
insured 19 million hectares of agriculture land from the total 64.5 million
hectares in the country.

The net insurance amount for insurance of rabi crops is
around Rs 671.96 Crores. The scheme has brought a paradigm shift in the
approach of policy makers who have been dealing with the agriculture and allied
sectors for years.

India’s 59 per cent population relies on agriculture and
allied sectors for their principal means of livelihood. When country’s overall
GDP is expected to grow at 7.1 percent in the current fiscal, the agriculture
GDP may cross 4.1 per cent touching Rs. 1.06 Lakh Crores.

Central government’s thrust to Indian food industry has
unveiled its immense potential that may catapult its growth to double digit in
next ten years. India is increasing its contribution to world food trade every
year. Currently the country is sixth largest food and grocery market in the
world with retail contributing 70 per cent of the sales. Indian food processing
industry makes 32 per cent of the global food market and is ranked fifth in
term of consumption, production of food items and their export.

In fact, India is the world’s largest producer of milk for
the last two decades and contributes 19 per cent of the world’s total milk
production. The country is emerging as the export hub of instant coffee that has
led to exports of 1,77,805 tonnes coffee between April-August 2017 as against 1,62,641
tonnes in the same period last year.

India has also topped the list of shrimp exporters in the
world, as the value-added shrimp exports rose 130 per cent year-on-year basis to
23,400 tonnes in 2017.

The country is also the second largest fruit producer in the
world. India’s horticulture output, is estimated to be 287.3 million tonnes
(MT) in 2016-17 after the first advance estimate.

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