Agriculture Industry in India | Top 10 MBA Colleges in Bangalore

Posted by Prof.Dr. G. N. Nagaraja On 09/12/2022 07:35:29

The agriculture industry comprises enterprises or companies that are majorly involved in cleaning, processing, storing, or packing various types of products that are mainly obtained from agricultural production. Some of the common agriculture products are categorized under fibers, foods, and raw materials. As a result, it represents an important part of the Indian economy and a source of employment for the majority of the country’s population, thereby driving market growth.  The agriculture industry in India's size reached Rs. 71,220 billion in 2021. Looking forward, IMARC Group expects the market to reach Rs. 1, 42,280 billion by 2027, exhibiting a growth rate (CAGR) of 12.3 percent during 2022-2027. online mba colleges in bangalore

Agriculture contributes about 54.6 percent of the total workforce and allied sector activities. Accounts for 16 percent of the country’s Gross Value Added (GVA) for the year 2019. There has been a continuous decline in the share of agriculture. Decline in GVA from 18.2 percent in 2015 to 16.0 percent in 2019. mba colleges in bangalore list

Consumer spending in India will return to growth in 2021 post the pandemic-led contraction, expanding by as much as 6.6 percent. The Indian food industry is poised for huge growth, increasing its contribution to the world food trade every year due to its immense potential for value addition, particularly within the food processing industry. The Indian food processing industry accounts for 32 percent of the country’s total food market, one of the largest industries in India, and is ranked fifth in terms of production, consumption, export, and expected growth. India is one of the major players in the agriculture sector worldwide and it is the primary source of livelihood for about 58 percent of India’s population. India has the world's largest cattle herd (buffaloes), the largest area planted for wheat, rice, and cotton, and is the largest producer of milk, pulses, and spices in the world. It is the second-largest producer of fruit, vegetables, tea, farmed fish, cotton, sugarcane, wheat, rice, cotton, and sugar. The agricultural sector in India holds the record for the second-largest agricultural land in the world generating employment for about half of the country’s population. Thus, farmers become an integral part of the sector to provide us with means of sustenance. mba in project management in bangalore

According to the Indian Council of Agricultural Research (ICAR), increasing awareness regarding the consumption of vegetables to meet various dietary requirements and nutritional needs has raised the demand for vegetables, consequently leading to an increase in the area of vegetable production. As reported by the Ministry of Agriculture and Farmers Welfare (India); DES (India), the Per capita gross availability of vegetables in India had increased from 378.10 grams per day to 388.70 grams per day. This indicates the expanding supply and consumption pattern of vegetables. In India, exotic vegetables such as mushrooms, green olives, fresh broccoli, and many other items have been gaining popularity in recent times among urban populations and gourmet hotels. mba colleges in bangalore list

Consumer spending in India will return to growth in 2021 post the pandemic-led contraction, expanding by as much as 6.60 percent. The Indian food industry is poised for huge growth, increasing its contribution to the world food trade every year due to its immense potential for value addition, particularly within the food processing industry. The Indian food processing industry accounts for 32 percent of the country’s total food market, one of the largest industries in India and is ranked fifth in terms of production, consumption, export, and expected growth.

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