Agriculture must double to $1 trillion for India’s $10-trillion dream: Experts

New Delhi: India’s agriculture sector needs to double its economic contribution to nearly USD 1 trillion from about USD 450

billion to help the country achieve its goal of becoming a USD 10-trillion economy by 2047, industry experts said on Thursday.

While agriculture employs nearly 46 per cent of India’s workforce, its value addition remains disproportionately low at about 15 per cent of gross domestic product, highlighting the need for policy reforms and increased private investment, they said.

“If we want to reach USD 10 trillion, agriculture’s share must rise from roughly USD 450 billion to USD 1 trillion,” Ajai Rana, Chairman of the Confederation of Indian Industry’s Northern Regional Committee on Agriculture, said at an industry summit here.

Rana, also Chairman of Federation of Seed Industry of India, pointed to India’s adoption of hybrid corn, which has risen to 90 per cent from just 15-20 per cent two decades ago, as evidence that technology can drive productivity when supported by policy, according to a statement.

However, inconsistent state-level policies and ad-hoc bans on crop technologies continue to deter investment, he said.

The summit, organised by CII and titled “Policy Reforms to Drive Growth in Agriculture”, brought together policymakers, industry leaders and scientists to discuss reforms.

Experts called for a science-led policy framework and the creation of a national agricultural technology council to harmonise centre-state regulations and introduce time-bound approvals for seeds and crop protection products.

Raghavan Sampathkumar, Executive Director of the Federation of Seed Industry of India, identified three

barriers to reform: activism influence, ad hoc interruptions, and arbitrary interpretations of laws.

“Science must triumph over sensation. Policy decisions cannot be dictated by activism or sudden state-level bans without scientific basis,” Sampathkumar said.

Industry leaders said a harmonised, science-driven framework could double the agri-inputs sector’s current USD 60 billion valuation within a decade and turn Indian agriculture into a trillion-dollar pillar of national growth.