Despite a dwindling share, agriculture could buttress India's growth projections amid rising global risks

Amid the uncertainties and disruptions resulting from the ongoing global tariff war, India’s growth prospects seem to be at risk.

- GNS News Agency, June 1

Concerns have been raised over the future trajectory of capital expenditure and private sector investment for India, as the impact of a slowing global economy will make its way to domestic shores, sooner or later. But, there is a silver tint in the clouds of doubt — a good projection for the monsoon that augurs well for agriculture.

Agriculture, which accounts for around 16 per cent share in the Gross Domestic Product (GDP) of the country and supports over 46 per cent of the population, has shown resilience over the last few years, especially in the post-Covid phase. The agricultural sector's annual growth has remained consistently above 4 per cent (except 2.7 per cent in 2023-24) in the last five years starting from the pandemic year 2020-21. This year, too, it is expected to gain with an above-normal rainfall forecast for the four-month long monsoon season in India.