INDIAN AGRICULTURE INDUSTRY AT A GLANCE IN 2019 - 2020 In FY20 agriculture exports from India were US$ 28.93 billion. Agriculture is the primary source of livelihood for about 58 per cent of India’s population. The Gross Value Added by agriculture, forestry and fishing is estimated at Rs.18.55 lakh crore (US$ 265.51 billion) for the current financial year. Growth in Gross Value Added (GVA) by agriculture and allied sectors stood at 2.1 per cent. The Indian food and grocery market are the world’s sixth largest, with retail contributing 70 per cent of the sales.
Market Size
For 2019-20, Government of India targeted food grain production of 291.1 million tonnes.
India is the second largest fruit producer in the world. Production of horticulture crops is estimated at record 313.9 million metric tonne (MMT) in the current financial year . Milk production in the country stood at 187.7 million tonnes in 2019, registering a growth of 6.5 per cent. Milk processing capacity is expected to double from 53.5 million MT to 108 million MT by 2025.
Industry Exports
Total agricultural exports from India grew at a CAGR of 14.61 per cent over FY10-19 to reach US$ 38.54 billion in FY19. In FY20 agriculture exports were US$ 22.69 billion for the first half year period.
Industry Forecast
The organic food segment in India is expected to grow at a CAGR of 10 per cent during the period 2016-21 and reach Rs 75,000 crore (US$ 10.73 billion) mark by 2025 from Rs 2,700 crore (US$ 386.32 million) in 2015. Agri exports from India is likely to reach US$ 60 billion by 2022.
