Agriculture GDP growth of India is the highest in the world, says Ramesh Chand of NITI Aayog
India's agricultural GDP growth has outpaced the global average for the past decade, Chand highlighted, citing World Bank data. The sector's contribution to the global GDP has also increased from 3.2% in 2006 to 4.3% in recent times.
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India has registered a remarkable 5% growth rate in its agriculture sector over the past seven years, from 2016-17 to 2022-23, according to NITI Aayog member Prof. Ramesh Chand. Addressing the International Conference of Agricultural Economists (ICAE) on Saturday, Chand attributed this achievement to the government's sustained focus on the sector.
India's agricultural GDP growth has outpaced the global average for the past decade, Chand highlighted, citing World Bank data. The sector's contribution to the global GDP has also increased from 3.2% in 2006 to 4.3% in recent times.
Prof. Chand emphasized the critical role of agriculture in safeguarding economies during crises. Since the 2006-07 global economic downturn, the sector has demonstrated resilience by outperforming non-agricultural sectors worldwide. Moreover, agriculture continues to be a primary source of employment for a significant portion of the workforce, as the industrial sector has struggled to absorb rural labor.
Given the sector's importance in economic and human development, Prof. Chand called for a renewed focus on agriculture at all levels. The ongoing ICAE conference, hosted in India for the first time in 65 years, brings together over 1,000 delegates from 75 countries to address challenges such as climate change, resource degradation, rising costs, and conflict while seeking sustainable agricultural solutions.
The conference, which began on August 2 and concludes on August 7, centers on the theme of transforming sustainable agricultural food systems.
