Top 10 Agricultural Countries by GDP Contribution 2016
Posted in Top Brand Lists, Total Reads: 249
Agriculture has played a vital role in Indian economy. More than 50% of the rural households are dependent on agriculture as their occupation and livelihood.
Agriculture along with forestry and fisheries is the single largest contributor to Gross Domestic Product (GDP). As per the records and estimates made by Central Statistics Office (CSO), the agriculture’s share and allied sector’s share which includes livestock, fishery, forestry and agriculture is 15.35% of Gross Value Added (GVA) for the year of 2015-16 measured at 2011-12 prices.
India is largest consumer, producer and exporter of spice and its products. India’s production of fruits has grown faster vegetable production. Which makes India one of the largest producer of fruits in the world. India output of horticulture which comprises of spices, vegetable and fruits was at a record high of 285 million tonnes for the year 2014-15. India also ranks third in agriculture and farm products.
Agriculture export contributes 10 per cent to the country’s total exports and is the fourth largest commodity which is exported. The agro industry of India is divided in several sub-parts such as dairy, canned, processed, poultry, meat, fisheries and frozen food.
Under ministry of agriculture comes the department of Agriculture and Cooperation which is responsible for the all the development taking place in the agriculture sector of India. It manages many other bodies such as National Dairy development Board (NDDB) to help develop other allied sectors of agriculture.
The agricultural sector in India is expected to gain and generate more momentum in next few years due to increasing amount of interments done by government in agricultural infrastructure such as cold storage, warehousing and irrigation facilities. Many factors like better fiscal incentives, improved port gate management and reduced transaction costs and time will contribute greatly to sector’s growth.
Agriculture contribution to GDP: 3, 59,601.43 million dollars