Introduction
Agriculture Sector plays a very vital role in India’s economic, social and political growth. The growing momentum in the agri-business and allied activities is very much visible from –
- increasing improvements in agriculture sector
- adoption of innovative management practices (both on-farm and off-farm)
- value addition due to modern technology, knowledge and financial assistance
- various Government initiatives
The significance of the agricultural sector is reflected in terms of contribution to the GDP, employment, export revenue, export tax and duty, as well as economic and rural development
An attempt is made in this article to know the emerging trends in Agriculture Sector in India and to understand the role of Corporate Sector and Corporate Professionals.
Key Statistics
- Agri sector in the first half of 2010-11 grew by 3.8 per cent and is estimated to reach 5.4 per cent during this fiscal
- The total expenditure in the first four years of the Eleventh Five Year Plan (2007-12) is estimated to be US$ 9.98 billion, up from US$ 3.36 billion in the entire five-year period of the Tenth Five Year Plan (2002-07), according to the Annual Report of the Department of Agriculture and Cooperation, Ministry of Agriculture
- The Gross Capital Formation, or investment, in agriculture sector related to GDP has shown a substantial increasing trend from 15.8 per cent in 2005-06 to 22.3 per cent in 2009-10
- Exports of agricultural products are expected to cross US$ 22 billion mark by 2014 and account for 5 per cent of the world’s agriculture exports, according to the Agricultural and Processed Food Products Export Development Authority (APEDA).