A significant sector in the Indian economy, the agriculture sector employs over 50% of the country’s workforce. The sector contributed around 18% to India’s Gross Domestic Product (GDP) in FY18. In terms of farm outputs, India ranks second worldwide with a high proportion of agricultural land and diverse agro-climate conditions that support the cultivation of different crops.
The Gross Value Added by agriculture, forestry, and fishing is estimated at Rs 18.55 lakh crore (US$ 265.51 billion) in FY 2019.
As per data released by the Department for Promotion of Industry and Internal Trade (DPIIT), the food processing industry in India received foreign direct investment (FDI) equity inflows worth USD 9.41 billion between April 2000 and June 2019.
One of the largest sectors in the country, Indian agriculture processed foods are exported to more than 120 countries.
India aims at doubling farm income by 2022.
The government of India aims at increasing the average income of a farmer household at current process to Rs 219,724 (US$ 3,420.21) by 2022-23 from Rs 96,703 (US$ 1,505.27) in 2015-16.
Investments worth Rs 8,500 crore (US$ 1.19 billion) have been announced in India for ethanol production.
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