India can be among the top five exporters of agro-commodities by shifting its focus on cultivation and effectively handholding farmers.
The market size of the India Agriculture Market is projected to be USD 355.52 billion in 2023 and will continue to grow at a compound annual growth rate (CAGR) of 4.90% to reach USD 451.59 billion by 2028. About 58% of Indians rely on agriculture as their main source of income.
Since 2015, 1,303 cold storage facilities with a 45 lakh MT capacity have been built. Credit is readily available, there are several sources of income for private warehouse operators, and they are supported. Over the next decade, it is anticipated that the agricultural sector will undergo changes due to a 4% increase in the capacity to safeguard food grains.
Types of agricultural inputs like seeds and fertilizers for plant growth have enormous potential. Total 22 of the 37 authorized mega food parks in the nation were open for business as of January 2021.The World Bank approved Rs.3,000 crore (US$ 429.25 million) in September 2019 to fund small and large food parks all over the nation.
A new venture in agriculture that offers inputs like fertilizer and seeds, as well as counseling and teaching farmers on the newest techniques. A task force was established in December 2019 by the Department of Agriculture.
