Traditional economic theories make us believe that if a country wants to develop, it has to migrate from agriculture towards manufacturing and then to services. There are live examples which prove it wrong. Covid-19 has shown us the importance and contribution of agriculture when everything else failed. Agriculture in India is a way of life which needs advancement, nor replacement.
The amount and quality of research in agriculture in India is still way behind counterparts like Israel and China. If India wants to make agriculture more productive and efficient, it needs to invest heavily on research in terms of investment in research institutions, investment in funding for research, investment in people in the field of agriculture and promotion of research in private companies through tax benefits. Research is the only way to counter the changing landscape of productivity in agriculture in India.
Long term sustainability, along with high productivity is possible if we can move away from Monoculture towards multiple agriculture and mixed farming. This will ensure long term sustainable growth and welfare of farmers.
Farmer producer organizations (FPOs) are being promoted in order to formalize agriculture in India. As per recent report of IMF, 95.2% of agriculture activity in India is still unorganized and informal in nature. Farmer productivity, welfare and growth can be enhanced only if he/she is brought under the formal net. Farmer’s growth means growth in the field of agriculture.
Agriculture has the potential to transform lives of millions of Indians, who are directly or indirectly dependent on it for their survival. Taking the above steps can ensure a fruitful, productive and efficient agriculture in India, which can re-frame economic studies on how countries should be structured for maximum GDP