India has an agriculture-based economy. 43% of India’s territory remains employed in agricultural activities. Globalization and agriculture in India are both intricately connected to each other as agriculture in India prevails over all other sectors because it plays a pivotal role in the socio-cultural life of its people.
Hence, it is agriculture that is the most influential field as compared to others in India. It is also most affected due to globalization in terms of the export and import of agricultural commodities - a major source of income in India.
Agriculture along with other related fields like forestry and logging provides employment to 60% of India’s population. Agriculture also accounts for 8.56% of the country’s total exports. According to a 2005 survey, agriculture accounts for 18.6% of the GDP (Gross Domestic Product).
Most of the Indian population lives in its villages and thus the contribution of agriculture to Indian economy becomes very important.
Majority of Indians depend on agriculture for their livelihood. Sustainable agriculture in India is in the process of acquiring importance. Sustainable agriculture is defined by the presence of eco-friendly agricultural practices.
It pays attention to conservation of the environment as much as to crop yield. Hence equipment, fertilizers, pesticides, etc used are monitored.
One of the primary agriculture companies in India is Bhartiya Agro Industrial Foundation of Maharashtra. It was created by Manibhai Desai in 1967.
NABARD (National Bank for Agricultural and Rural Development) is a bank, which is employed in encouraging agriculture based economic activities in rural India.
Besides this, the Multi Commodity Exchange (MCX) was founded in 2003 in Mumbai for the upliftment of agricultural economy in the country.
Recently a great telecommunication giant - Bharti Enterprises has forged alliances with Field Fresh and Wal Mart, which are globally acclaimed companies..
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