In some senses Indian agriculture is flourishing. Working conditions may be grim, but record harvest follows record harvest—and famine is a thing of the past
Yet in some senses, rather than stagnating, Indian agriculture is flourishing. Working conditions may be grim, but record harvest follows record harvest—and famine is a thing of the past. Farming exports in the fiscal year ending in March were up by 9% on the previous 12 months, hitting $26bn and representing 7% of India’s outbound trade. During the global food scare that followed Russia’s invasion of Ukraine last year, India became a pivotal exporter of rice and wheat , as well as other grains.
However, Indian agriculture has begun a subtle evolution—in terms of policies, technology and finance—that is helping bypass the many official constraints. This is apparent in the economic data. A little more than a decade ago, agriculture and manufacturing produced similar amounts of gross value added, a measure that subtracts purchase costs from revenues to capture contributions to economic activity. The most recent numbers show that agriculture contributes a quarter more.
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