Agriculture sector in India contributes 16% of GDP & 10% of export earnings. Agricultural Development in India has led to exports of agricultural products worth US$ 22 Billion by 2014. More statistics here.
Agriculture Sector in India, Agricultural Development in India, Statistics
1. AUGUST
Agriculture 2012
For updated information, please visit www.ibef.org 1
2. AUGUST
Agriculture 2012
Contents
Advantage India
Market overview and trends
Growth drivers
Success stories: Green Revolution, Rallis India
Opportunities
Useful information
For updated information, please visit www.ibef.org
2
3. AUGUST
Agriculture 2012
Advantage India
2011–12E
Robust demand Attractive opportunities Food grain
• A large population is the key driver • Increasing demand for production:
of demand for agricultural products agricultural inputs such as hybrid 250.2
seeds and fertilisers million
• Rising urban and rural incomes tonnes
have also aided demand growth • Promising opportunities in
storage facilities; potential
• External demand has also been storage capacity expansion of 35
growing especially from key million tonnes under the 11th
markets like the Middle East Five Year Plan
Advantage
India
Competitive advantages Policy support
• High proportion of arable land (48 • Government is increasing Minimum
per cent or 157.9 million hectares) Support Prices (MSPs) to ensure higher
crop production
• Leading producer of jute, pulses;
second-largest producer of wheat, • Launched National Food Security
Mission (NFSM) to increase production
1960–61 paddy, fruits and vegetables
of rice, wheat and pulses
Food grain
production:
69.3
million Source: Ministry of Agriculture, World Bank, FAOSTAT,
tonnes Aranca Research
Note: E – Estimate
For updated information, please visit www.ibef.org ADVANTAGE INDIA 3
4. AUGUST
Agriculture 2012
Contents
Advantage India
Market overview and trends
Growth drivers
Success stories: Green Revolution, Rallis India
Opportunities
Useful information
For updated information, please visit www.ibef.org
4
5. AUGUST
Agriculture 2012
Evolution of agriculture in India
2000 onwards
1980-2000
• Increase in population and
1960-80
• Expanding cereal production strong income growth
• Economic reforms amplified the demand for
introduced; greater food grains
encouragement to exports • MNC players brought in
better technology to the
• Surplus of production of
market
• Pioneering work of agricultural agricultural commodities
1950s scientists and efforts of farmers over domestic demand • Rise in institutional credit for
led to Green Revolution • India thus emerged as a net agriculture
• High Yield Variety (HYV) of exporter of agricultural • Government launched NFSM
seeds, increased use of products to increase production of rice,
fertilizers and irrigation resulted wheat and pulses
• Stagnation in agriculture
in a significant spike in
• Low growth in crop and
production
grain production (0.4
and 0.1 per cent p.a.) • Attained food security and
reduced import of food grains
• Food grain production
of 59.2 mt in 1952–53, Source: RBI, Ministry of Agriculture, Aranca Research
with a yield of 579.8 Notes: NFSM - National Food Security Mission,
kg/ha MNC - Multi National Company, mt - metric tonne, p.a. – per annum
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6. AUGUST
Agriculture 2012
Growth in agriculture … (1/2)
GDP by value added – size of agriculture and allied activities
→ GDP of agriculture and allied sectors in India reached
(USD billion)
USD 147.7 billion in FY11
147.7
→ According to the Central Statistical Organisation
(CSO), the agriculture sector is estimated to have 138.0
grown by 2.5 per cent in FY12 136.5 136.6
→ Agriculture is the primary source of livelihood for 129.0
about 58 per cent of India’s population
Note: GDP – Gross Domestic Product
FY07 FY08 FY09 FY10 FY11
Source: Ministry of Agriculture,
Aranca Research
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7. AUGUST
Agriculture 2012
Growth in agriculture … (2/2)
→ At USD29.6 billion, agriculture accounted for 7.1 per Gross Capital Formation in agriculture and allied activities
cent of total Gross Capital Formation in FY11 (USD billion)
→ Under the FY13 Union Budget, planned outlay for 29.6
various schemes under the Dept of Agriculture and 26.5 27.3
Cooperation (DAC) has been fixed at USD 4.2 billion
22.0
19.2
→ Allocation to the Rashtriya Krishi Vikas Yojana (RKV Y)
in the FY13 budget has been increased to USD 1.9
billion, a rise of about 19 per cent from the previous
financial year
Note: RKVY is a central government scheme providing funds to
state governments to spend on agriculture
FY07 FY08 FY09 FY10 FY11
Source: Ministry of Agriculture,
Aranca Research
For updated information, please visit www.ibef.org MARKET OVERVIEW AND TRENDS 7
8. AUGUST
Agriculture 2012
Major seasons: Kharif and Rabi … (1/2)
→ There are two major agricultural seasons in India – Production of food grains (million tonnes) in
Kharif and Rabi Kharif and Rabi seasons
→ Kharif season lasts from April to September
(summer); rice (paddy) is the season’s main crop
123.6 122.0
→ Rabi season lasts from October to March (winter); 109.8 116.3
114.2
wheat is the season’s main crop
121.0 118.1 121.1 128.4
104.0
FY08 FY09 FY10 FY11 FY12E
Kharif Rabi
Source: Ministry of Agriculture,
Aranca Research
Note: E– Second advance estimates
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9. AUGUST
Agriculture 2012
Major seasons: Kharif and Rabi … (2/2)
Area sown in FY10 (lakh hectares)
Rabi Kharif
10.8 12.7
Wheat
71.0 Paddy
44.9 85.2
Pulses
Oilseeds
335.3
87.3 Oil seeds Pulses
100.1
279.1
Jowar Cotton
Maize 105.3 Bajra
136.9 174.4 Maize
Rice
Source: Ministry of Agriculture,
Aranca Research
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10. AUGUST
Agriculture 2012
Exports of Indian agricultural products
… (1/2)
→ India is among the 15 leading exporters of agricultural Agricultural exports from India (USD billion)
products in the world; the country accounted for 1.7
per cent of global agricultural trade in 2010
CAGR 25.0
→ Total agricultural exports from India expanded at a 17.8%
CAGR of 17.8 per cent (to USD 25.0 billion) over FY07- 18.6
11(P) 16.5 17.9
13.0
Note: P – Provisional estimate (for FY11);
CAGR – Compound annual growth rate
FY07 FY08 FY09 FY10 FY11P
Source: Ministry of Agriculture, World Trade
Organisation, Aranca Research
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11. AUGUST
Agriculture 2012
Exports of Indian agricultural products
… (2/2)
→ India exported cotton worth USD2.7 billion in FY1 1(P) Key agricultural and allied sector exports from India in FY11(P)
accounting for nearly 11% of total agricultural exports (USD billion)
3.0 2.7
→ Oil meals and rice were the next largest export items 2.3
in terms of value; each accounted for about 9% of 2.5
2.3
total agricultural exports in FY11(P) 1.8
2.0
1.6 1.6
→ As part of a conscious strategy, the government 1.5
monitors the flow of exports of agricultural products
1.0
depending on domestic demand and availability 0.7 0.7
0.5 0.5
0.5
Note: P – Provisional Estimate 0.0
Source: Ministry of Agriculture,
Aranca Research
*includes meat preparations;
**includes products made from paper/ wood
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12. AUGUST
Agriculture 2012
Key agricultural states and their
contributions
Punjab and Haryana were the key
states of green revolution and
continue to be large producers of
food grains Uttar Pradesh - largest
producer of wheat
14.34 million tonnes
Assam is India’s largest
producer of tea
Gujarat - largest
producer of cotton
7.99 million bales
West Bengal - largest
producer of rice
Karnataka - largest 14.34 million tonnes
producer of maize
3.01 million tonnes
Madhya Pradesh - largest
producer of pulses
4.30 million tonnes
Source: Department of Agriculture & Cooperation;
Note: All figures as of 2009-10
12
13. AUGUST
Agriculture 2012
Contents
Advantage India
Market overview and trends
Growth drivers
Success stories: Green Revolution, Rallis India
Opportunities
Useful information
For updated information, please visit www.ibef.org
13
14. AUGUST
Agriculture 2012
Growth drivers of Indian agriculture
• Population and income
growth
Demand-side
drivers
Growth
drivers
• Institutional credit
• Hybrid and genetically Supply-side
Policy support
modified seeds drivers • Increasing MSPs
• Mechanisation • Favourable policies
• Irrigational facilities
Notes: MSP – Minimum Support Price
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15. AUGUST
Agriculture 2012
A large population ensures high demand
for agricultural products
→ India, the second-most populated country in the Population of India (million)
world, has to meet food consumption needs of around 1400
1,210 million people 1,210
1200
1,029
→ This is a key demand driver of agricultural growth in 1000
the country 846
800
683
548
600
400
200
0
FY71 FY81 FY91 FY01 FY11
Source: Census of India 2011,
Aranca Research
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16. AUGUST
Agriculture 2012
Income growth also driving agriculture
demand
→ Domestic demand for agricultural and allied products Per capita income at factor cost (USD)
has not only been rising due to rising population, but
1,200
also as a result of greater consumption by a wealthier CAGR 1,111
population 14.3% 961
1,000
849
→ Over FY07-1 India’s per capita income increased at a
1, 800 746
CAGR of 14.3 per cent (to USD1,1 1)
1 650
600
→ Indian agriculture has also benefitted from rising
400
external demand and the sector’s wider participation
in the global economy
200
0
FY07 FY08 FY09 FY10 FY11
Source: Central Statistical Organisation,
Aranca Research
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17. AUGUST
Agriculture 2012
Growing area under irrigation … (1/2)
→ India’s irrigation potential has steadily increased over Area under irrigation (million hectares)
the years; as of March 2010 it stood at 108.2 million
hectares compared to 81.1 million hectares in FY92 86.4
76.6
→ In FY1 1, aided by central government funding,
63.2 63.3
individual states generated additional irrigation 55.1
49.8
potential of 0.6 million hectares under the Accelerated 48.0
Irrigation Benefit Programme (AIBP) 38.2 38.7
31.1
FY71 FY81 FY91 FY01 FY10P
Gross irrigated area Net irrigated area
Source: Ministry of Agriculture,
Aranca Research
Note: P is Provisional Estimate
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18. AUGUST
Agriculture 2012
Growing area under irrigation … (2/2)
→ Gross irrigated area under food grains is estimated to Gross irrigated area under food grains (‘000 hectares)
have grown to 58.6 million hectares in FY10(P)
58,641
→ Of the wide variety of crops in India, rice and wheat 53,609
are the most irrigated 44,866
37,851
→ With growing investments in irrigation, the 30,117
dependence on monsoons has declined considerably
over the years
FY71 FY81 FY91 FY01 FY10P
Source: Ministry of Agriculture,
Aranca Research
Note: P is Provisional
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19. AUGUST
Agriculture 2012
Increasing mechanisation of farming
… (1/2)
→ Mechanisation helps in raising farm income by Number of tractors sold
increasing productivity and limiting post-harvest
losses
CAGR 545,109
→ Growing sales of tractors and tillers in India reflect the 11.5%
increasing level of mechanisation in farming; over 419,270
393,836
FY07-1 tractor sales rose at a CAGR of 1 per cent
1, 1.5
352,835 346,501 342,836
→ India is the largest manufacturer of tractors in the
world, accounting for about one-third of global
production*
Source: ‘State of Indian Agriculture 2011-12’ by
the Dept of Agriculture and Cooperation (DAC)
FY07 FY08 FY09 FY10 FY11 Apr - Dec
2011
Source: Department of Agriculture and Cooperation,
Aranca Research
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20. AUGUST
Agriculture 2012
Increasing mechanisation of farming
… (2/2)
→ Sale of tillers increased at a CAGR of 22 per cent over Number of tillers sold
FY07-11
CAGR 55,000
22 %
→ The government has set up a number of Farm
Machinery Training and Testing Institutes to train 38,794 39,900
farmers on the operation and maintenance of 35,294
26,135
agricultural equipment
24,791
→ DAC proposes to initiate National Mission on
Agricultural Mechanisation (NMAM) to spread the
benefits of mechanisation among all levels of farmers
especially small and marginal ones FY07 FY08 FY09 FY10 FY11 Apr - Dec
2011
Notes: DAC– Dept. of Agriculture and Cooperation
Source: Department of Agriculture and Cooperation,
Aranca Research
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21. AUGUST
Agriculture 2012
Improved yield and resistance from
hybrid seeds … (1/2)
→ The size of India’s seed industry was about USD1.6 Production of seeds (‘000 tonnes)
billion (estimate) in FY10
200 3500
3000
→ There has been strong growth in the use of hybrid 150 2500
seeds due to their high yield and resistance
2000
100
→ Usage of hybrid seeds has been more prevalent in 1500
cash crops than food crops 50 1000
500
0 0
FY07 FY08 FY09 FY10 FY11P
Breeder seed production ('000 tonnes)
Foundation seed production ('000 tonnes)
Certified seed production('000 tonnes) ( RHS)
Source: Ministry of Agriculture, Aranca Research
P – Provisional Estimate
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22. AUGUST
Agriculture 2012
Improved yield and resistance from
hybrid seeds … (2/2)
→ Usage of hybrid seeds has boosted the yield of food Food grain yields (kg/hectare)
grains to an estimated 1,757 kg/hectare in FY12 from
1,023 kg/hectare in FY81
1,921
→ The government has been playing a proactive role in 1,757
1,626
promoting greater use of hybrid seeds; it encourages 1,380
private seed companies by providing a subsidy of 25
per cent of the capital cost subject to a maximum of 1,023
USD50,000 per unit
FY81 FY91 FY01 FY11E FY12E*
Source: Ministry of Agriculture, Aranca Research
Note: E – Fourth advance estimates, E* - First advance estimates
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23. AUGUST
Agriculture 2012
Institutional credit to agriculture on a
rise … (1/2)
→ Institutional credit to the agriculture sector increased Institutional credit to agriculture (USD billion)
at a CAGR of 18.1 per cent during FY07–1 1
69.3
→ Farmers are allowed to avail crop loans at an interest 59.5
of 7 per cent
47.7
→ In FY12, the government increased the interest 37.7
34.7 30.4
subvention for timely repayment of crop loans to 3 per
cent from 2 per cent in FY11 14.6
10.1 9.6 13.2 10.4
8.9 5.3 5.6 7.3 9.2 5.7
4.3
FY07 FY08 FY09 FY10 FY11 1H FY12
Commercial Banks Cooperative Banks Regional Rural Banks
Source: Ministry of Agriculture, Aranca Research
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24. AUGUST
Agriculture 2012
Institutional credit to agriculture on a
rise … (2/2)
→ Domestic banks (both private and public) are Share of institutional credit to agriculture
stipulated to provide almost one-fifth (18 per cent) of
their net bank credit to agriculture
74.5%
→ Banks are issuing Kisan Credit Card (KCC) to farmers
52.6%
to provide timely and adequate credit support; by the
end of Oct, 201 107.8 million KCCs were issued to
1, 39.2%
eligible farmers
15.7%
8.0% 9.8%
Co-operative Banks Regional Rural Banks Commercial Banks
FY01 FY11
Source: Annual report on Agriculture 2010-11, Aranca Research
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25. AUGUST
Agriculture 2012
Rising MSPs incentivise farming … (1/2)
→ The Indian government increases MSPs regularly to MSP of rice (USD per quintal)
incentivise farmers to enhance production of crops
and ensure there is adequate supply 22.5
20.8
18.8 19.8
→ The MSP for rice was raised by 8.2 per cent to
15.5
USD22.5 per quintal in FY12 from USD20.8 per quintal
in FY11
Note: MSP is Minimum Support Price
FY08 FY09 FY10 FY11 FY12
Source: Ministry of Agriculture, Aranca Research
For updated information, please visit www.ibef.org GROWTH DRIVERS 25
26. AUGUST
Agriculture 2012
Rising MSPs incentivise farming … (2/2)
→ Government has increased the MSP of pulses MSP of arhar (USD per quintal)
significantly in the past three years to encourage 66.7
production and thereby reduce the supply shortage 62.5
→ MSP for arhar increased more than 100 per cent to 47.9
USD66.7 per quintal in FY12 from USD32.3 per quintal 41.7
in FY08
32.3
FY08 FY09 FY10 FY11 FY12
Source: Ministry of Agriculture, Aranca Research
For updated information, please visit www.ibef.org GROWTH DRIVERS 26
27. AUGUST
Agriculture 2012
Favourable policies are supporting the
sector growth … (1/2)
• National Food Security Mission was launched in FY08 with an outlay of USD1.2
National Food Security billion during the 11th Five year plan
Mission (NFSM) • It aims at enhancing the production of rice, wheat and pulses by 10 million
tonnes, 8 million tonnes and 2 million tonnes by FY12
• Rajiv Krishi Vikas Yojana was launched in FY08 with an outlay of USD5.3 billion
Rajiv Krishi Vikas Yojana during the 11th Five year plan .
(RKVY) • RKVY aims at incentivising states to increase outlays for agriculture and allied
activities there by creating an increased focus on agriculture
• 100 per cent Foreign Direct Investment (FDI) is allowed under automatic route in
Foreign Direct storage and ware housing including cold storages
Investment (FDI) • FDI policy for agriculture was amended to allow 100 per cent FDI under
automatic route for development of seeds
Source: Ministry of Agriculture, Union Budget 2011-12, Aranca Research
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28. AUGUST
Agriculture 2012
Favourable policies are supporting the
sector growth … (2/2)
• Government has launched an initiative to spend USD 65.1 million to promote
Pulses villages 60,000 ‘pulses villages’ in rain fed areas for increasing crop productivity and
strengthening market linkages
• Realising that scientific and technical breakthroughs are critical to increasing
Incentivising agricultural agricultural productivity, the government in its FY13 budget has allocated
research USD41.7 million to incentivise research with rewards for institutions as well as
research teams
• The government plans to set up a Regional Rural Bank Credit Refinance Fund
with a capital of USD2.1 billion to enhance the capacity of RRBs to disburse short
RRB Credit Refinance
term crop loans to small and marginal farmers
Fund
• In its budget for FY13, the government raised the target for agricultural credit by
USD20.8 billion to USD119.8 billion
Source: Ministry of Agriculture, Union Budget 2011-12, Aranca Research
Note: RRB – Regional Rural Bank
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29. AUGUST
Agriculture 2012
Contents
Advantage India
Market overview and trends
Growth drivers
Success stories: Green revolution, Rallis India
Opportunities
Useful information
For updated information, please visit www.ibef.org
29
30. AUGUST
Agriculture 2012
Green Revolution: India becomes self-
sufficient in food grains
→ The Green Revolution started around 1965 in India, especially in the states of Haryana and Punjab, to increase the
production of food grains
→ The movement helped the country to reduce imports and become self-sufficient in food grains
→ Food grain production more than doubled to 150.4 million tonnes in FY86 from 72.4 million tonnes in FY66
→ Agricultural infrastructure improved during this period with dependence on monsoons going down due to better
irrigation facilities
Double
Food grain production (million tonnes)
cropping
existing 150.4
farm land 129.6
121.0
108.4
Continued 72.4
High
expansion Green
yielding
of farming Revolution
seeds
area
Use of
pesticides FY66 FY71 FY76 FY81 FY86
and
fertilisers Source: Handbook of Indian Statistics, Aranca Research
For updated information, please visit www.ibef.org SUCCESS STORIES: GREEN REVOLUTION, RALLIS INDIA 30
31. AUGUST
Agriculture 2012
Rallis India: Leading player in
agricultural inputs … (1/2)
Salient characteristics
• Rallis is a leading player in the agricultural inputs business and the largest player in agri chemical business
• Crop protection is the major segment for the company and it plans to expand its presence in seeds and PGN
• As part of the above mentioned plans, Rallis acquired a research-led seeds company ‘Metahelix’ and launched a PGN product in the
name of ‘Ralligold’
• Rallis India has set up Rallis Farm Management services to undertake contract farming
• Rallis Research centre has won the prestigious New Millennium Indian Technological Leadership Initiative award for a molecule
discovery
Major business segments
Crop protection Agri services
Rallis
Contract farming Seeds and PGN
Note: PGN - Plant Growth Nutrients
For updated information, please visit www.ibef.org SUCCESS STORIES: GREEN REVOLUTION, RALLIS INDIA 31
32. AUGUST
Agriculture 2012
Rallis India: Leading player in
agricultural inputs … (2/2)
Net sales (USD million) Profit before taxes (USD million)
259.4 38.4
222.0 31.8
183.1 30.5 31.1
174.3
140.5 22.3
FY08 FY09 FY10 FY11 FY12 FY08 FY09 FY10 FY11 FY12
Source: Company website, Aranca Research
For updated information, please visit www.ibef.org SUCCESS STORIES: GREEN REVOLUTION, RALLIS INDIA 32
33. AUGUST
Agriculture 2012
Contents
Advantage India
Market overview and trends
Growth drivers
Success stories: Green Revolution, Rallis India
Opportunities
Useful information
For updated information, please visit www.ibef.org
33
34. AUGUST
Agriculture 2012
Opportunities
Farm management services Agricultural inputs Logistics
• New agri business, which • Limited arable land • The 11th Five Year Plan
provides inputs such as against growing estimated a potential
seeds, fertilisers along with population makes storage capacity expansion
providing advice and agricultural inputs crucial of 35 million tonnes
training farmers on latest
agricultural practices • Huge opportunity exists • Cold storage capacity needs
for agri input segments to grow rapidly from the
• It introduces efficiencies like seeds and plant current level of 24 million
into the whole gamut of growth nutrients tonnes
agri practices
• In India, commercial seeds • Private warehouse
• Provides assistance to sell only account for minor operators are supported by
products at appropriate percentage (25 per cent) multiple income streams,
prices and huge demand is subsidy and available of
expected for quality credit
branded seeds
Source: Rallis Annual Report, FCI, Aranca research
Note: FCI - Food corporation of India
For updated information, please visit www.ibef.org OPPORTUNITIES 34
35. AUGUST
Agriculture 2012
Initiatives that will further prop up the
sector
FDI in multi – National Food
brand retail Security Bill
• The government’s plan to allow up
to 51 per cent FDI in multi-brand • Under the proposed National Food
retail (which is under discussion) Security Bill, government
will positively influence agriculture guarantees beneficiaries a
and enable its modernisation even prescribed quantity of food grains
further at heavily-discounted prices
• Foreign investors are likely to bring • To meet the demand that could
in efficiencies, especially in food emanate from implementation of
supply chains; they are likely to the bill, the government will take
invest in logistics such as measures to raise productivity
warehouses and cold storages
• The government is likely to invest
• Direct procurement from farmers more on the storage infrastructure,
will likely result in higher prices for which will reduce wastage and
the farmer and lower ones for the thereby lead to lower prices
consumer
For updated information, please visit www.ibef.org OPPORTUNITIES 35
36. AUGUST
Agriculture 2012
Contents
Advantage India
Market overview and trends
Growth drivers
Success stories: Green Revolution, Rallis India
Opportunities
Useful information
For updated information, please visit www.ibef.org
36
37. AUGUST
Agriculture 2012
Industry Associations … (1/2)
Autonomous Bodies
• National Institute of Agricultural Extension Management
Rajendranagar, Hyderabad–500 030, Andhra Pradesh
Phone: 040-24016702 to 706
Fax: 040-24015388
• National Institute of Agricultural Marketing (NIAM)
Bambala, Kota Road
Jaipur–302033, Rajasthan
Phone: 0141-2770027
Fax: 0141-2771938, 2770027
Boards
• Central Insecticides Board and Registration Committee
Machinary Store Building,
N.H.IV Faridabad
Phone: 0129 -2413002
• Coconut Development Board
Kera Bhavan, SRVHS Road, Kochi
Kerala–682011
Phone: 0484-2376265, 2377267, 2376553
Fax: 0484-2377902
For updated information, please visit www.ibef.org USEFUL INFORMATION 37
38. AUGUST
Agriculture 2012
Industry Associations … (2/2)
• National Dairy Development Board (NDDB)
PB No 40, Anand–388 001
Phone: 02692-260148/260149/260160
Fax: 02692-260157
• National Horticulture Board (NHB)
Ministry of Agriculture, Government of India
85, Institutional Area, Sector-18
Gurgaon–122015, Haryana
• National Oilseeds and Vegetable Oils Development Board
(NOVOD)
86, Institutional Area, Sector-18
Gurgaon–122015, Haryana
Councils
• Indian Council of Agricultural Research (ICAR)
Krishi Bhavan, New Delhi 110 114
Phone: 91-11-25846010
For updated information, please visit www.ibef.org USEFUL INFORMATION 38
39. AUGUST
Agriculture 2012
Glossary
→ AIBP: Accelerated Irrigation Benefit Programme
→ Breeder seeds : Seeds move from germplasm ( research) stage to breeder stage
→ CAGR: Compound annual growth rate
→ Certified/quality seeds : Foundation seeds are further multiplied to get certified seeds, which are sold to farmers
→ FMTTI : Farm Machinery Training and Testing Institutes
→ Foundation seeds : Breeder seeds are multiplied as foundation seeds
→ FY: Indian financial year (April to March)– FY12 implies April 2011 to March 2012
→ KCC: Kisan Credit card
→ MSP : Minimum Support Prices
→ NFSM : National Food security mission
→ NMAM: National Mission on Agricultural Mechanisation
→ PGN : Plant Growth Nutrients
→ RKVY : Rashtriya Krushi Vikas Yojana is a central government scheme providing funds to state governments to spend on
agriculture
→ USD: US Dollar– Conversion rate used: USD 1 = INR 48
→ Wherever applicable, numbers have been rounded off to the nearest whole number
For updated information, please visit www.ibef.org USEFUL INFORMATION 39
40. AUGUST
Agriculture 2012
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