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An assessment of economic impact of FDI on Indian Agriculture

  • Unique Paper ID: 151517
  • Volume: 5
  • Issue: 7
  • PageNo: 378-382
  • Abstract:
  • Around 2/3rd of the world population is dependent on agriculture for its livelihood. As per 2011 Census, In India, 69% of the total population lives in villages and more than 49% of the total working population are dependent on agriculture. The term Agriculture is derived from two Latin words called ‘Agri’ meaning ‘land’ and ‘Cultura’ meaning ‘Tillage’. Hence Agriculture means Tilling the Land. Agriculture has a greater role to play in the economic development of a country. Apart from contributing 16% to national income, it provides largest employment opportunity for larger segment of the population. Hence Indian Agriculture is regarded as the “back bone of Indian economy”. Agriculture supplies food grains to people. During 2015-16, around 275 Million tonnes of food grains was grown in the country, apart from this agriculture supplies fodder to animals, cattle & livestock. Agriculture also supplies raw materials to industries like raw cotton to cotton industry, sugar cane for sugar industry, oil seeds for edible oil industry, jute for jute industry, Wheat for Biscuits industry etc. These industries are known as ‘Agro based industries’. The prosperity of these agro based industries is directly dependent upon the availability of inputs from the agricultural sector. Apart from that agriculture creates market for the Industrial output like fertilizers, pesticides, tractors. The demand for industrial products depends upon the income of the farmers which in turn depends upon agricultural production. Despite having an important role to play, agricultural sector in India, exists at the subsistence level. To raise the standard of living of the people and to enable them to use the benefits of science and technology, miraculous advances in agriculture, industry, transport, communication, education, health services and other fields, it is almost essential that, capital formation should take place at a higher rate than before, so that the big development projects may be financed properly. When domestic capital available is not sufficient, it must be compensated through other means and FDI is an important source to supplement the capital scarcity f
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Cite This Article

  • ISSN: 2349-6002
  • Volume: 5
  • Issue: 7
  • PageNo: 378-382

An assessment of economic impact of FDI on Indian Agriculture

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Impact Factor
8.01 (Year 2024)
UGC Approved
Journal no 47859

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