Agriculture & Allied Sector
India's Agriculture & Allied Sector plays a pivotal role in the economy, driving inclusive growth and ensuring food security. Recent years have witnessed significant advancements aimed at enhancing productivity, sustainability, and farmers’ livelihoods.
A notable achievement is the substantial increase in agricultural exports. Horticulture continues to thrive, with production in 2023-24 (First Advance Estimates) estimated at 355.25 Mn Tonnes, marking a 1.15% increase in cultivated area compared to the previous year. Moreover, improved infrastructure and post-harvest management have bolstered yields, benefiting small farmers and enhancing food and nutritional security. To further strengthen the sector, the government announced the development of large-scale clusters for vegetable production near major consumption centers.
During 2021-22, 59.12 lakh ha of area has already been brought under organic farming, thus ranking India at 4th place in terms of certified area globally under organic farming. This shift promotes soil health and sustainability and meets rising global demand for organic products, creating new market opportunities. Moreover, in the FY 2024-25 budget, the government announced that 1 Cr farmers nationwide will be introduced to natural farming, with support for certification and branding over the next two years. Additionally, 10,000 bioinput resource centers will be established based on specific needs.
A notable achievement is the substantial increase in agricultural exports. In the fiscal year 2022–23, India's agricultural exports reached $53.1 Bn, with the Agricultural and Processed Food Products Export Development Authority (APEDA) contributing 51% of these exports. During April–December 2023, 18 out of 23 principal commodities in APEDA's export basket showed positive growth, underscoring India's robust performance in the global agri-market. Further, India's Agriculture Export Policy (AEP) seeks to boost farmers' income and position India as a global leader in agriculture. By 2030, India aims to double its agricultural exports from the current level of approximately $50 Bn to $100 Bn.
Efforts toward climate-resilient agriculture remain crucial. Initiatives like the National Mission for Sustainable Agriculture (NMSA) focus on developing resilient crop varieties and sustainable farming practices to mitigate climate risks and ensure long-term agricultural sustainability.
Technological integration has transformed the sector, notably through the e-NAM (National Agriculture Market) platform. Currently, the platform integrates 1,260 APMC mandis across 22 states and 3 union territories, facilitating online trading of 203 agriculture and horticulture commodities. This digital initiative has improved price transparency and provided farmers with direct market access, thereby increasing their income potential.
To strengthen India's agricultural ecosystem, the government has laid out several key initiatives in the recent budget. Over the next three years, the government aims to implement Digital Public Infrastructure (DPI) in agriculture, bringing over 6 Cr farmers under the formal land registry system. A Digital Crop Survey will be conducted in 400 districts during FY 2024-25, with the remaining districts covered in FY 2025–26. Additionally, the issuance of Jan Samarth-based Kisan Credit Cards (KCC) will be enabled in five states, helping farmers access inputs and credit for agricultural and allied activities, thus ensuring India’s agriculture growth drivers perform progressively.
In conclusion, India's agriculture and allied sectors are pivotal for economic development. It leverages technology, sustainability, and diversification to meet domestic needs and enhance global competitiveness. These initiatives promise significant economic contributions, improved food security, improved livelihoods for millions of farmers across the country, and nutritional security for billions of consumers worldwide.
Electric Mobility
Reflecting on India's commitment to address environmental concerns, reduce emission intensity of its gross domestic product (GHG emissions per unit GDP) by 33%–35% over 2005 levels by 2030, and embrace sustainable transportation solutions, electric mobility is emerging as one of the cardinal segments in the automobile industry in India. It is estimated that E-Two Wheelers will reach a market of 5 Mn by 2025, with E-Three Wheelers accounting for 30% of sales.
Growing at a compounded annual growth rate of 49% between 2021 and 2030, the government anticipates the EV segment to cross annual sales of 17 Mn units by 2030. To encourage the adoption of electric vehicles, the Government of India initiated the second phase of Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in 2019. This initiative spans a period of 5 years, with a total budgetary support of INR 10,000 Cr. The primary focus is on electrifying public and shared transportation, with the aim of providing subsidies for 7262 e-Buses, 1.6 lakh e-3 Wheelers, 30461 e-4 Wheeler Passenger Cars, and 15 lakh e-2 Wheelers. The overall Electric Vehicle penetration of India is projected to grow 8x by 2030 from the current 5%.
The National Programme on Advanced Chemistry Cell (ACC) Battery Storage, which aims to establish Gigascale ACC and battery manufacturing facilities in India, has incentivized the adoption rate of this segment, leading to a 40% surge in the number of registered EVs in 2023 compared to 2022. With an aim to go fully electric by 2030, automotive players like Tata Nexon EV, Hero Electric Vehicles Pvt Ltd (Hero Electric Eddy), Mahindra Electric Mobility Limited (Mahindra eVerito), etc. have been engaged in research and development, in addition to working towards equipment for EVs, including GPS navigation, remote sensors, anti-theft locking systems, and more.
Bridging the gap of various challenges through the government's initiatives of charging infrastructure for electric vehicles, electric mobility in India is henceforth leaping towards a quantum surge in volumes and technology.
Healthcare
India's healthcare sector is a top priority, essential for both the nation's well-being and economic growth. With over 1.3 Bn people, the sector spans hospitals, medical devices, clinical trials, telemedicine, medical tourism, health insurance, and more. The Union Budget 2023-24 emphasized healthcare, allocating significant funds to the Ayushman Bharat scheme, the world’s largest government-funded healthcare initiative, which aims to cover over 500 Mn people. This initiative is transforming healthcare access for the economically disadvantaged and boosting the demand for medical services and infrastructure.
The National Digital Health Mission (NDHM) is also making waves by creating a digital health ecosystem that promises efficient service delivery and better connectivity among stakeholders. Additionally, the private sector, alongside government efforts, is crucial in advancing healthcare through investments in infrastructure and technology. The COVID-19 pandemic accelerated the rise of telemedicine, making healthcare more accessible, especially in rural and underserved areas. Medical tourism is another thriving aspect, with India becoming a preferred destination for affordable, high-quality treatments.
The sector is also a significant job creator, offering millions of employment opportunities across various fields. Furthermore, strategic policies and reforms focused on expanding healthcare infrastructure, promoting research and development, and fostering innovation are essential for the sector's sustainable growth. Programs aimed at improving primary healthcare, enhancing medical education, and increasing public health awareness are also pivotal. Overall, driven by robust government initiatives, private investments, and a strong emphasis on digital health, India’s healthcare sector is poised for significant progress, playing a vital role in the country's socio-economic development.
Semiconductor & IT Hardware
Semiconductors serve as the foundation of modern technology, powering all electronic devices. The industry has rapidly expanded in recent years to meet market demands, driven by advancements like cloud computing, AI, and 5G deployment.
India has identified semiconductors as a priority sector due to their potential for substantial economic growth and technological advancement. With increasing electronics consumption across sectors and a growing demand for smart devices—all of which utilize semiconductor devices—India aims to bolster domestic manufacturing capabilities and reduce dependency on imports. This strategic focus aligns with global trends towards digital transformation and connectivity, positioning India to become a significant player in the semiconductor industry and fostering innovation, job creation, and economic resilience.
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- Interventions for fast-track issue resolution at the Central and State level
- Facilitation and advisory for expansion
- Identifying niche investment opportunities to invite strategic partners
- Leveraging the growing ecosystem to scale up the value chain
- Cutting-edge research on sectoral opportunities across Indian States
- One-stop-shop for all Central and State level policy information
- Up-to-date repository of Investible Opportunities, and a snapshot of the investment ecosystem, infrastructure, and supply chains across sectors
- Bridging the Industry-Government gap through robust stakeholder consultations
- Representing India on global platforms to attract Investments
- Strategic Collaborations with Global organisations and multilateral
- Strategic location assessment based on Investor requirements
- Incentive advisory
- Representation to State Governments and Central Ministries
- Site visits to evaluate the feasibility of potential locations
- Single-window clearance support for regulatory clearances, permissions, and compliance
- Continuous relationship management with investors post-operationalization
- Interventions for fast-track issue resolution at the Central and State level
- Facilitation and advisory for expansion
- Identifying niche investment opportunities to invite strategic partners
- Leveraging the growing ecosystem to scale up the value chain
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