Agriculture Sector in India Expected to Grow at 12%, Driven by Government Support and Easy
Despite being a country largely dependent on agriculture for the sustenance of its people, India faces certain challenges inhibiting the growth of its agriculture industry. The government’s support along with emerging trend of contract farming, easy
India represents the third largest agricultural producer by value, after US and China. Agriculture is an important component of the Indian economy as it provides employment to a large portion of the Indian population. According to a new report by IMARC Group entitled, “Agriculture Industry in India: Growth and Opportunities”, the agriculture sector in India has grown at a CAGR of more than 14% during 2008-2015, reaching a value of INR 34,570 Billion in 2015. The report finds that currently, India is the largest producer and consumer of dairy products and spices as well as the second largest producer of fruits, fishes, wheat, rice and raw silk, globally. IMARC Group expects the agriculture sector in India to double in value by 2021 exhibiting a CAGR of around 12%.
Browse full report: http://www.imarcgroup.com/agriculture-industry-in-india
This report has divided the agriculture industry in India into 17 segments – farming, fertilizers, warehousing, food processing, floriculture, apiculture, sericulture, seeds, fisheries, dairy market, poultry, cold chains, animal husbandry, pesticides, animal feed, agriculture equipment and bio-agriculture. For each of these segments, the report has provided an exhaustive analysis which includes current and historical market trends, drivers, challenges, market structure, competitive landscape, market forecast, etc. The farming segment (which consists of fruits, vegetables, cereals, plantation crops, spices and pulses) represents the largest segment of the Indian agriculture industry. Farming, food processing and dairy segments together accounted for around 75% of the entire industry revenues in 2015. On the other hand, the fastest growing segments of the industry include – floriculture, cold chain and sericulture.
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Nov 09, 2016