Agriculture is the primary occupation of around 50% Indians, and the nation is a leading supplier of agri products globally.
largest food and grocery market across the world
largest fruit producer in the world (313.9mn tonnes)
FDI in food processing during 2019-20
food processing output expected by 2025-26
worth total agricultural exports reported from India during the financial year 2019
of agricultural export targeted by the Government by 2022 under the renewed policy
of total food grain production estimated by Government for the crop year 2018-19
expansion targeted in food processing capacity; +US$900mn committed to food parks
FDI allowed in the marketing of food products and in e-commerce under automatic route
India’s Union Cabinet on June 3 approved an amendment to the Essential Commodities Act, a historic step towards transformation of agriculture and raising farmers’ income in the post-Coronavirus economy. The move will provide better economics to exporters and investors in the agri trade/infrastructure space.
India’s Union Cabinet on June 3 approved ‘The Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Ordinance, 2020’ which will balance the risks in agricultural activity.
On July 8, a cabinet headed by the Prime Minister approved the creation of a pan India 'Agriculture Infrastructure Fund' that will provide end-to-end support to the sector through long term debt financing, investment support, subvention and post-harvest management.
As part of the newly instituted Agriculture Infrastructure Fund, a loan amount of US$ 13 bn will be offered to Primary Agricultural Credit Societies (PACS), Farmer Producers Organizations (FPOs), Self Help Group (SHG) and Marketing Cooperative Societies among others as part of medium long-term financing options.
A component, Innovation and Agri-entrepreneurship Development programme has been launched under Rashtriya Krishi Vikas Yojana in order to promote innovation and agripreneurship by providing financial support and nurturing the incubation ecosystem.
The initiatives listed by the The Department of Agriculture, Cooperation and Farmers Welfare include State/UT government promoted 'Mandis', shops for seeds and fertilizers, logistics, manufacturing and machinery based support.
The bill enables farmers to take up a barrier-free approach to trade their respective produce. Electronic payment mechanisms are to be set up in order to facilitate payment and the respective States are to abstain from levying market fees on produce sold outside APMC identified markets.
The bill allows for the forming of an agreement between farmer and buyer for period of one crop season. A dispute resolution mechanism headed by a Magistrate and Appellate Authority are to arbitrate should issues arise.
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India has a well-oiled enterprise promoting machinery that is backed by strong legislative, judiciary, executive and capital establishments
Nestlé sources more than 1.5mn kgs of milk per day from around 100,000 farmers.
India's Parag Milk Foods delivers farm fresh milk and products from India to Singapore.
Rallis, a subsidiary of Tata Chemicals, is a leading crop care company with reach in more than 80% of India’s districts.
Godrej Agrovet operates in animal feed, crop protection, oil palm, dairy and poultry and processed foods.
ITC, a leading exporter of agri products, sources Indian feed ingredients, food grains, marine products, processed fruits and coffee.
India has a well-oiled enterprise promoting machinery that is backed by strong legislative, judiciary, executive, and capital establishments