The gross value added (GVA) of India’s agriculture and allied sectors has more than tripled between FY2012 and FY2024, according to a new report released by the Ministry of Statistics and Programme Implementation (MoSPI). The data underscores the sector’s continuing importance to the economy, contributing nearly 16 per cent to the country’s GDP and supporting over 46 per cent of the population.
The Ministry’s ‘Statistical Report on Value of Output from Agriculture and Allied Sectors’ shows that agri GVA surged from Rs 1,500 thousand crore in FY12 to over Rs 4,800 thousand crore in FY24 – a 22 per cent increase over the previous fiscal alone. During the same period, the gross value of output (GVO) rose by 55 per cent, reaching Rs 3,000 thousand crore, up from Rs 1,900 thousand crore in FY12.
Although the report does not specify causal factors, sector experts attribute the sustained growth to favourable monsoon conditions, improved productivity, and targeted government initiatives aimed at boosting farm income.
Crops continue to form the largest share of agricultural GVO at 54 per cent, with cereals and fruits and vegetables together accounting for over 52 per cent. Paddy and wheat remain dominant, contributing 85 per cent of the total cereal output.
In a notable shift, banana overtook mango as the top fruit by value in FY24. Banana recorded a GVO of Rs 47 thousand crore, narrowly edging past mango’s Rs 46.1 thousand crore. Among vegetables, potato retained the lead, with GVO rising from Rs 21.3 thousand crore in FY12 to Rs 37.2 thousand crore in FY24.
Uttar Pradesh remained the leading contributor to national agricultural output with a 17 per cent share. It was followed by Madhya Pradesh, Punjab, Telangana, and Haryana – together accounting for 53 per cent of the country’s total GVO in the sector.
The livestock sector saw its GVO nearly double over the 12-year period, from Rs 488 thousand crore in FY12 to Rs 919 thousand crore in FY24. Milk continued to dominate livestock output, though its share declined slightly to 66 per cent, while meat’s share increased to 24 per cent.
Horticulture also registered robust growth, with floriculture GVO nearly doubling to Rs 28.1 thousand crore, up from Rs 17.4 thousand crore in FY12 – signalling rising commercial interest in the segment.
The report reflects the evolving role of agriculture in the Indian economy – as a provider of food security, a source of rural livelihoods, and a growing contributor to economic diversification.
