Agriculture is one of the leading growth-driving industries in India and across the world. If we talk about India alone, almost 50 % of the population is involved in farming. Hence, it’s obvious that it will contribute heavily to the GDP. Soon after independence, the agriculture sector was contributing 50% of the GDP, which is a huge number.
As the economy evolved and new businesses and industries shaped, the contribution of farming to total GDP decreased a bit. Yet, it remained highly significant. In 2021-2022, the percentage of GDP taken up by agriculture is around 19%. During this period, about two-thirds of India’s population was dependent on the sector.
In FY 2022-2023, the percentage of GDP taken up by agriculture grew by 3.5%. India is becoming a leading producer and exporter of agricultural products.
The farming exports touched the mark of $50.2 Bn in FY 2022-23. If we talk about the production, the total kharif foodgrain production was 149.9 million tonnes, which was the highest of all time. All in all, agriculture is shaping the Indian economy and growth.
23-Sep-2023 | Answer by: Asad Khan