Agriculture is the art and science of cultivating the soil, growing crops, and raising livestock. It includes the incubation of plant and animal products for us to use and their distribution to markets. Agriculture is additionally called “farming”, whereas scientists and inventors dedicated to rising farming ways and implements also are known to be engaged in agriculture. Agriculture is the primary source of livelihood for almost 2/3 of India’s population. Gross Value Added by agriculture, forestry, and fishing was estimated at Rs 19.50 lac crore (US$ 276.37 billion) in FY 20(PE). Growth in Gross Value Added in agriculture and allied sectors stood at 4 percent in FY 20.
What is Agricultural Industrialization?
The industrialization of agriculture in India is said to have achieved two goals one to free Indians from farming so they could join the labor force in offices and factories and the other is to make food and farming cheaper so Indians could afford to shop for the products offered by new industries.
According to the Internal Trade and Department for Promotion of Industry the food processing industry of India has successively attracted Foreign Direct Investment equity inflow of about US$ 10 billion between April 2000 and March 2020.
Major Investments in Recent
- In March 2020, Fact, the oldest large-scale fertilizer manufacturer in the country, crossed the 10 lac production and sales mark.
- Nestle India will invest Rs 700 crore in the construction of its 9th factory in Gujarat.
- In November 2019, Haldiram entered into an agreement for Amazon’s global selling program to E-tail its delicacies in the United States.
- Two diagnostic kits developed by ICAR, IVRI, and the Japanese Encephalitis IgM ELISA were launched in October 2019.
- An investment worth Rs 8,500 crore has been announced in India for ethanol production.