Agribusiness: Making up for lost time
Changes will be needed across three main dimensions: farm productivity, farmer profitability and adoption of new technologies and farming business models
Indian agriculture is approaching an important crossroad. Based on the sector’s current trajectory, the demand-supply mismatch in crops is likely to hit more than 15% by 2020, with the gap worsening to 20-25% by 2025 if unaddressed. The underlying trends (input variables if you will) are equally distressing. Agricultural productivity levels have been stagnant for the past 10 to 15 years, with our crops requiring around two to four times the average global water intensity. Wastage levels in our agricultural supply chain hover between 30% and 40%. More than a third of farmer households today live below the poverty line. These distressing trends highlight the enormity of the challenges lying ahead for the Indian agricultural industry.
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