Agriculture In India Market Size (2024 - 2029)

India Agriculture Market Analysis

The Agriculture In India Market size is estimated at USD 372.94 billion in 2024, and is expected to reach USD 473.72 billion by 2029, growing at a CAGR of 4.90% during the forecast period (2024-2029).

• The agriculture market in India is a critical industry, contributing significantly to the nation’s GDP and employment. As of 2024, agriculture continues to be a cornerstone of the Indian economy, engaging around 45% of the workforce and contributing approximately 18% to the country's GDP. The industry encompasses a diverse range of activities, including crop cultivation and horticulture. India is one of the largest producers of various crops, including rice, wheat, sugarcane, and pulses, and holds a significant position in global agricultural markets.
• In recent years, the Indian agriculture sector has undergone substantial transformations driven by technological advancements, government policies, and market dynamics. The introduction of new agricultural practices and modern technologies, such as precision farming, has enhanced productivity and sustainability. Additionally, government initiatives such as the Pradhan Mantri Krishi Sinchai Yojana (PMKSY) and the Digital India Land Records Modernization Programme (DILRMP) have played a pivotal role in improving irrigation facilities and land record management.
• The Union Budget for 2023-2024 strongly emphasizes regenerative agriculture, inclusive growth, enhanced access to agricultural credit, high-quality agricultural inputs, digitization, and technological advancement. Consequently, the increase in sustainable farming practices, government initiatives, and the drive to improve crop productivity through extension services are anticipated to propel the market's growth during the forecast period.

India Agriculture Industry Segmentation

Agriculture is the practice of cultivating the soil, producing crops, and, in varying degrees, preparing and marketing the resulting crop products, such as fruits, vegetables, and cereal crops, in the country.

Agriculture in India is segmented into food crops/cereals (rice, wheat, sorghum, millet, and barley), oilseeds (soybean, rapeseed, groundnut, and castor), fruits (banana, mango, orange, papaya, and grapes), and vegetables (potato, onion and shallot, tomato, eggplant, cabbage, and cauliflower). The report includes the production analysis (volume), consumption analysis (value and volume), export analysis (value and volume), import analysis (value and volume), and price trend analysis for the market. The report offers market sizes and forecasts in terms of value (USD) and volume (metric tons).