Fisheries, Livestock to drive higher 4% agriculture growth in FY26, says NITI Aayog's Ramesh Chand

New Delhi [India], December 8 (ANI): India's farm sector growth is expected to strengthen in the financial year ending March 2026, rising to around 4 per cent from 3.5 per cent last year, driven by a sharp expansion in fisheries and livestock, Ramesh Chand, Member of the NITI Aayog said on Monday.

"The growth in the farm sector is seen higher primarily by huge growth in fisheries and the livestock sector, which includes poultry and eggs," Chand said on the sidelines of the Agri Business Summit 2025 held in the national capital. He added that horticulture is also a key contributor to a higher growth rate.

Responding to the question that though a bountiful monsoon boosted the food grains in the country, there were reports of damage in Punjab due to floods, Chand said recent flooding in Punjab would not meaningfully dent the national output picture. "The damage was done in limited areas while overall yield has improved," he said.

Looking at long-term performance, Chand said India's farm sector has strengthened significantly over the decades. Farm growth rate is on the rise now.

"We are at number one in agriculture growth. Even China is lagging us," he said.

Chand argued that sustaining higher farm growth is essential for India's broader economic ambitions. "If India wants to become Viksit Bharat and achieve that goal, then the farm growth rate should be 5 per cent," he said. Achieving 5 per cent annually, he added, "is not difficult... I have a roadmap for this and also published in my papers."

He said India could triple its agriculture GDP through innovative technologies and high-quality agri inputs earlier than the targeted time if momentum accelerates. "If we grow with 5 per cent growth rate then we can achieve it in 2042; otherwise if we remain stuck at 4.6 per cent we can reach by 2047-48," he said. With sustained expansion, "farm produce may also double in 15 years."

Chand pointed to internal demand pressures that shape agricultural planning. Domestic food consumption is rising more rapidly than population growth.

"Domestic food consumption is growing at 2.5 per cent while population growth is 0.7 per cent, down from 2.4 per cent earlier," he said.

Although India produces surpluses in several crops, exports remain constrained by price mismatches. "There are some crops we are in surplus but cannot export because of unviable prices," Chand said. On rice, he noted: "Production is 25 per cent higher than domestic demand. Domestic prices are usually higher and global prices are lower."

Chand said policy tools could help bridge these gaps. The Bhavantar Bhugtan Yojana, he said, "can play a big role" in stabilising farmer incomes by compensating for price differences. When export markets fail to absorb a commodity, "it can be provided to domestic industry," he said.

He said that quality improvement could open new opportunities. "The global market can pay two to three times more for quality product. There is also a class emerging in India ready to pay more for premium products," he said.

Chand also drew comparisons with China. "China does production with intense management. They use double the fertilisers than us but don't have adverse consequences. We should learn that part from China," he said. (ANI)

(This content is sourced from a syndicated feed and is published as received. The Tribune assumes no responsibility or liability for its accuracy, completeness, or content.)