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Agriculture Business, Food Security and Financial Inclusion
“It’s often quoted share of agriculture in GDP is < 14% and is continuously shrinking. While the share of pure agriculture in national Gross Domestic Product (GDP) may have declined, the share of agribusiness in is bound to go up significantly with the demand for value addition continuously increasing in India.”
With 60% of Indian families still depending on agriculture income for livelihood, India today is largest producer of milk, pulses, and spices, maintains the largest cattle herd, have the largest area under wheat, rice and cotton. Although the agriculture growth rate and per unit productivity remains a big challenge and big area of concern, the country is steadily emerging as agricultural power. Agribusiness can empower India emerge as "Global Agricultural Super Power".
Agriculture development to a large extent addresses the “two key areas” which are drawing the maximum attention from Government, regulators, financial institutions and many others i.e., “Food security” and “Financial Inclusion”. These twin areas are “intertwined” with the “next phase of economic growth” of the India which we all aspire for, that which will be which lot more participative, broad based & inclusive and can be become real engine which will propel country into next growth trajectory.
While “Food security” of the country can be only ensured by pushing the “Agriculture growth”, the “Financial Inclusion” in India can truly be delivered through a framework which has “Farmers” at its heart.