Agriculture has the Potential in India to help it reach a $ 5 trillion economy
The country today intends to move to $ 5 trillion from the present $2.8 trillion economy. It is certainly doable as 50 percent of India is employed in agriculture but the sector accounts for just 15 percent of GDP. The clarion call for 5 trillion can be achieved by leveraging the agriculture potential of the country by channelizing these factors.
1. Productivity and Quality: After green revolution of 1965 we leapfrogged into self sufficiency and earned billion of dollars in exports. Today South Korea and China are doing much better than us despite having less arable land under agriculture. The cost of agriculture is higher which makes our export less attractive in European and African markets.
2. Market access: the Mandi system and money lenders crippled the agriculture sector in India. The market mechanism should be developed in robust mode with the support of information and communication technology. Digital India can be a game changer in innovating and incentivizing the markets.
3. Sustainability: Agriculture today is losing it character and essence among the youth. Agriculture sector has been stagnant with less revenue generation options. The push factor of migration has put strain on the cities and towns.
Making mechanized equipment available to them on a shared basis as well as contract farming will provide them a big help and enhance their capability and productivity. As would agri- service entrepreneurs at a village level in strengthening the agriculture sector. There is therefore a need to have a partnership between the government and the industry as this mechanism of empowerment will handhold the farmers for best practices and also solve their complex and myriad issues.
Professor -Finance & Practising Cost Accountant
4 年Three crops a year shall immediately triple the existing income. Irrigation is important
Professor , Department of Management Studies Jamia Millia Islamia
4 年Thanks a lot to all for the interest shown in my article. I will surely keep you all abreast with my new findings and researches.
Professor , Department of Management Studies Jamia Millia Islamia
4 年Certainly, we are trying to do research in this field and would certainly share th developments with all.
SAFe POPM | Product Owner | Business Analyst | Process Consultant | BFSI | MBA-B. Tech | Business Process Transformation
4 年In a country where agriculture is the primary business for around 70% of the population, it's important to formulate policies around the sector so that the population working in agriculture sector is ensured to earn enough to run their lives smoothly, next step to improvise the sector is to invest in agriculture machinery industry which will help to produce efficiently. Another consecutive step should be to divide the land on basis of geographic location to produce more and to produce organic. There is lot more to do if Policy Makers show some willingness