Empowering ‘Viksit Bharat’: Key Insights from the Krishi Vikram Conclave on Agricultural Development

As India celebrates its centenary, the Indian Chamber of Commerce held the Krishi Vikram conclave in New Delhi, aiming to reshape agriculture and boost the nation’s economy. During the event, Union Minister of Commerce and Industry Piyush Goyal outlined a bold vision for Indian agriculture. He emphasized that agriculture is crucial for India’s goal of becoming a USD 5 trillion economy.

Goyal spoke to a diverse audience, including policymakers, farmers, and industry leaders. He stressed the need to adopt modern technologies and sustainable practices in India’s agricultural sector, which relies heavily on seasonal rainfall. Key strategies like drip irrigation, natural farming, and advanced food processing could not only help India achieve self-sufficiency but also enhance its position in the global market. Goyal highlighted that India could increase its agricultural exports from INR 4 lakh crore to INR 20 lakh crore by improving productivity and adding value to its products.

He insisted that irrigation should go beyond just boosting yields; it must also be financially beneficial for farmers and enhance India’s export in processed foods. This transformation, he argued, is not just about changing policies; it is a national movement aimed at aligning economic growth with climate resilience.

Empowering farmers through technology and better market access is vital for this transformation. Goyal noted the benefits of energy-efficient pumps, which can reduce costs and water consumption while pairing with drip irrigation for even greater results. The government is committed to improving farmer skills, increasing their earnings, and expanding the reach of Indian agricultural products, including high-value crops and niche segments.

Goyal referenced successful exports of lychees, coffee, spices, and millets as evidence of India’s rising profile in global agriculture. He encouraged stakeholders to work together and view agriculture as a critical component of India’s economic future.

Abhyuday Jindal, president of ICC and managing director of Jindal Stainless, supported Goyal’s vision. He expressed that technology, strong trade relationships, and trust among stakeholders are essential for agriculture to lead India’s economic growth.

The conclave also focused on fostering agri-entrepreneurship and preparing rural youth for skilled roles in high-value agriculture. With over 60% of India’s population depending on agriculture for their livelihoods, it was clear that transforming this sector is vital for the nation’s development.

Goyal’s call for comprehensive reforms pointed toward reimagining Indian agriculture. With alignment among leaders, support from industry, and active farmer involvement, there’s potential for this vision to turn India’s agricultural strengths into a significant global economic force.

In recent years, experts have noted a growing trend in agri-tech startups, which aim to innovate within the sector. As of 2022, India saw a surge in agri-tech investments, with a report indicating a rise to USD 1.3 billion in funding. This growth reflects a broader recognition of agriculture’s potential and the need for modern solutions.

Ultimately, this vision represents not just political aspirations but a collaborative effort to reshape the future of agriculture in India—critical for its economic revival.



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