What's Happening?
Ramesh Chand, a member of India's NITI Aayog, has projected a 4% growth in the country's agriculture sector by the fiscal year ending March 2026. This growth is expected to be driven primarily by significant expansions in the fisheries and livestock sectors,
including poultry and eggs. Chand made these remarks during the Agri Business Summit 2025 in New Delhi. Despite recent flooding in Punjab, which caused localized damage, the overall national agricultural output remains strong. Chand emphasized the importance of sustaining higher farm growth to achieve India's broader economic goals, suggesting that a 5% growth rate is necessary for the country to become a 'Viksit Bharat'. He also highlighted the potential for India to triple its agricultural GDP through innovative technologies and high-quality agricultural inputs.
Why It's Important?
The projected growth in India's agriculture sector is significant as it underscores the potential for increased economic stability and development within the country. A robust agricultural sector can contribute to food security, employment, and rural development. The focus on fisheries and livestock suggests a diversification of agricultural activities, which could lead to more resilient economic outcomes. Additionally, the emphasis on quality improvement and export potential indicates a strategic shift towards capturing higher-value markets. This growth trajectory aligns with India's broader economic ambitions and could position the country as a leading agricultural producer globally.
