With a total population of 1.27 billion, India becomes second most populous and seventh largest country in the world. Agriculture has been the primary source of livelihood in India with at least 58% of Indian population depending upon it. India is also the largest producer of agricultural products of milk, jute, and pulses, and the second largest producer of rice, sugarcane, wheat, groundnuts, and cotton, and leading producer of spice, fish, poultry, livestock, and plantation crops. The Indian food processing industry also accounts for 32% of the country’s total food market, and is ranked fifth in terms of production, consumption, export, and expected growth. During the crop year 2017-18, the food grain production in India is estimated at record 284.83 million tonnes, and in the current crop year, the government of India is targeting on increasing their food grain production up to 285.2 million tonnes.

Today, the Indian agriculture industry continues to face internal as well as external challenges. The reasons for such challenges might be monsoon dependence, low level of input usage, fragmented land-holding, lack of technology application, antiquated agronomic practices, and poor rural infrastructure that would deter a healthy growth. The Indian agriculture industry is at the verge of a revolution that will modernize the entire food market of India, and the total food production in India is likely to double in the upcoming years. Currently, there are excellent export prospects for India which has created international trade opportunities for India.

The Indian government has taken several initiatives to encourage private investment in the agricultural area including deregulation of the sector from license, relaxing import duties and FDI norms, and changing policy regulations for private sector activities in the market. The govt. has also invested in several government infrastructure projects such as Food Parks, Agri Export Zones, and Terminal Markets.

Some of the major governmental initiatives in the agricultural industry are as follows:

• Rs. 2,021 crore has been transferred to the bank accounts of more than 10 million farmers on February 2019 under the Pradhan Mantri Kisan Samman Nidhi Yojana (PM-Kisan).
• In order to boost agriculture exports, the Indian government has launched the Transport and Marketing Assistance scheme to provide financial assistance for transport and marketing of agriculture products.
• The Cabinet Committee on Economic Affairs, Government of India, has approved a Rs 5,500 crore assistance package for the sugar industry in India.
• The Pradhan Mantri Krishi Sinchai Yojana of the Government of India has planned an investment of Rs 50,000 crore for the development of irrigation sources for providing a permanent solution from drought.