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The agriculture industry in India size reached INR 71,220 Billion in 2021.
The significant rise in the need for various agricultural products due to population growth and the rapid adoption of enhanced technologies and methods in dairy, fisheries, and livestock are the major growth-inducing factors.
The emergence of modern retail formats has enabled the farmers to directly sell their products to consumers. The establishment of rural banking and credit system is also playing a pivotal role in the industry’s growth.
The increasing adoption of social distancing measures in the country due to the outbreak of the coronavirus disease (COVID-19) has led to disruptions in the supply of agricultural products across the country. The non-availability of migrant labor is also interrupting harvesting activities, thereby negatively impacting the industry.
The Indian agriculture industry is expected to reach INR 142,280 Billion by 2027, exhibiting a growth rate (CAGR) of 12.3% during 2022-2027.
The agriculture industry in India has been segregated into 17 major sectors, including farming, agriculture equipment, fertilizers, pesticides, warehousing, cold chain, food processing, dairy market, floriculture, apiculture, sericulture, seeds, fisheries, poultry, animal husbandry, animal feed, and bio-agriculture. Amongst these, the farming sector accounts for the largest market share in the agriculture industry.
The leading players operating in the industry are E.I. DuPont India Private Ltd., Rallis India Ltd., Nuziveedu Seeds Ltd., Godrej Agrovet Ltd., Nestle India Ltd., Advanta India Limited, Monsanto Company, Parle Products Private Limited, Britannia Industries Ltd., REI Agro Limited., and Indian Farmers Fertilizer Cooperative Limited (IFFCO).
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