Is agriculture India's strength or weakness? Panel to debate at BS Manthan

At the second edition of BS Manthan, Business Standard's annual flagship summit, experts will debate whether agriculture is India's strength or weakness now

India has historically been recognised as an agriculture-based country, with the sector playing a pivotal role in its economy and society. However, decades after India’s independence, this notion has evolved due to structural changes in the economy, leading to a reduced share of agriculture in the Gross Domestic Product (GDP) and a shift towards industrial and service sectors.

 

The question now: Is agriculture India’s strength or weakness? This topic will be up for debate at the second edition of Manthan, the annual Business Standard flagship summit, which kicks off on February 27 at Taj Palace, New Delhi.

 

Joining the debate will be Ramesh Chand, Member of Niti Aayog; CSC Sekhar, Professor at the Institute of Economic Growth (IEG) and former Honorary Director of the Agricultural Economics Research Centre, University of Delhi; and Ajay Vir Jakhar, Chairman of Bharat Krishak Samaj, Vice Chair of Sustainable Consumption, and UN Food Champion at the UN Food Systems Summit.

 

 

Agriculture has long been the backbone of India’s economy, employing nearly 45 per cent of the workforce, according to NSSO’s Periodic Labour Force Survey 2022-23 and contributing about 18 per cent to the country’s Gross Domestic Product (GDP). Yet, it remains a sector riddled with paradoxes — immense potential for growth, but plagued by low productivity, climate vulnerability, and policy bottlenecks.

 

Recently, the government announced several measures for agriculture and allied sectors in the Union Budget 2024-25. Finance Minister Nirmala Sitharaman announced ‘Prime Minister Dhan-Dhanya Krishi Yojana’ targetting 100 low-productivity agri-districts. The programme, to be launched in partnership with states, is expected to benefit 17 million farmers.

 

BS Manthan

 

The two-day, high-profile event, which marks 50 years of Business Standard’s publication, will have Union Finance Minister Nirmala Sitharaman delivering the inaugural address on February 27. During a fireside chat after her address, Sitharaman will delve deeper into the subject of India’s unique position in the world.

 

Besides agriculture, the summit will also see discussions on banking, markets and investment, the matter of state finances, defence, renewable energy, the future of jobs, and the luxury sector.

 

In its second year, BS Manthan provides a forum to thought leaders at home and abroad for deliberating on major economic, business and strategic policy options, as also the challenges that face the Indian economy. The summit will take these vibrant discussions forward this year with top minds coming together over two energy-packed days.