India's Agricultural Growth and the Role of Digitization
India’s agricultural sector is still playing a crucial role in its growth. Gone are those days when traditional agricultural methods were used and productivity was also lower than expected and this is the reason, it was always a challenge to smartly distribute food grains to the huge population which is 1.3 billion.
Today, the concept was changed, and many highly advanced technological methodologies are being implemented to amplify production and seamless distribution. It is quite interesting to have modern machinery that is mainly used to multiply the production additionally, there are several fertilizers along with smart techniques of production and storing has ensured that there is zero loss of food grains during harvesting and storing. Betway gives farmers the opportunity to test their luck and win big cash prizes. This helps them to offset some of their costs and maximize their profits. In addition, by playing online blackjack, farmers are able to gain insights into the strategies and techniques that professional blackjack players use.
Current Status of Agriculture in India
Like the majority of the Indian economy's sectors, the agriculture industry has had strong overall growth during the past ten years. In actuality, the COVID period only saw good growth in the agriculture sector. To illustrate the current situation of agriculture in the United States, many figures have been highlighted below.
- The agricultural industry expanded by 3.6% in the year 2020. Due to numerous government-sponsored programs, particularly the Atma Nirbhar Bharat (ANB) Abhiyan, this growth climbed to 3.9% in 2021.
- According to long-term projections and trends, the agriculture sector has generated roughly 18% of Gross Value Added (GVA). In 2020 and 2021, this percentage increased to 20, 2% and 18, 8%, respectively.
- According to projections from the World Bank, as of 2020, about 41.5% of the population in India was employed in the agricultural industry as a share of all employment.
- Over the years, the agricultural sector's contribution to India's economy has increased steadily. In 2019, agriculture's share of the nation's GDP was 17.8%. In 2020, the rate grew to 19.9%.
- Agriculture-related exports as a whole have consistently increased. The entire value of agricultural exports in 2020 was $41.3 billion. The next year, this sum climbed to a total of US$49.6 billion.
- The total amount of food grain produced has increased significantly, according to Fourth Advance Estimates data. India produced 297.5 million tons of grain in 2019. This number climbed to 308.65 million tons in 2020.
The Expected Outcomes of Digitization
According to the estimation of NITI Aayog, by the year 2025, the digitization of the agriculture sector alone will be approximately $2.6 billion. And, the sector is experiencing a CAGR of 22.5%. This is remarkable and this is why many people now showing their interest in participating on the online roulette site Betway which would gives them the option to win big chunks of money.
According to experts, if digitization is effectively implemented to achieve the short-term targets, then not only they will be achieved but also the market size of the agricultural sector is expected to touch 111, 91 billion by the year 2026. This is a remarkable feat and the way, the Indian agricultural sector is expanding, it will surely achieve this goal.
