AgriTech India 2023

Agriculture is the main source of livelihood for about 58% of India’s population. The Indian food industry is poised for huge growth, increasing its contribution to the world food trade every year due to its immense potential for value addition, particularly within the food processing industry. The Indian food processing industry accounts for 32% of the country’s total food market, one of the largest industries in India, and is ranked fifth in terms of production, consumption, export, and expected growth.

It contributes around 8.80% and 8.39% of Gross Value Added (GVA) in Manufacturing and Agriculture respectively, 13% of India’s exports and 6% of total industrial investment. In 2018-19, the Government of India is targeting foodgrain production of 285.2 million tonnes. India is the second-largest fruit producer in the world. Production of horticulture crops is estimated at a record 314.7 million tonnes (mt) in 2018-19 as per third advance estimates. In FY2019 agriculture exports were US$ 38.54 billion. India is also the largest producer, consumer, and exporter of spices and spice products.