Being the world’s second largest populated country, India provides a huge consumer base for agricultural products. Despite a significant increase in industrialization levels, agriculture continues to play an important role in the Indian economy in terms of GDP as well as employment. Agriculture continues to be the primary source of livelihood for around 65% of the country’s total population and is critical in meeting the food consumption needs of more than 1.25 Billion people. India is also among the 15 leading exporters of agricultural products in the world.
A number of factors have been acting as a catalyst in driving the growth of the Indian agriculture industry. These include: population growth, rising income levels, technological advancements in irrigation facilities, mechanization of farm equipments, etc. The Indian government has also recognized the importance of agriculture and has taken several steps for its sustainable development. These include – enhanced institutional credits to farmers, increasing MSP’s (Minimum Support Prices), promotion of cold chain infrastructure to increase the shelf-life of farm produce, FDI (Foreign Direct Investment), RKVY (Rashtriya Krishi Vikas Yojana), etc.
A new report by IMARC Group titled, “Agriculture Industry in India: Market Segments, Key Drivers, Challenges, Market Trends and Regulations” finds that the overall agriculture market in the country grew at a CAGR of around 14% during 2007-2014. The report also found that farming, food processing and dairy currently represent the three largest segments in the entire agriculture market. Floriculture, sericulture and cold chains, on the other hand, represented the three fastest growing segments. This report provides a comprehensive understanding of the Indian agriculture industry and serves as an analytical tool to understand not only the market trends, structure, drivers and restraints but also the outlook of the market till 2020. This report aims to serve as an excellent guide for investors, researchers, consultants, marketing strategists, and all those who are planning to foray into the Indian agriculture market in any form.
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The International Market Analysis Research and Consulting Group is a leading adviser on management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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