Agriculture exports see rapid growth in Telangana
Gross State Value Added by agriculture and allied sectors increased 186% from 2014-15 to 2022-23 in State
Hyderabad: The Gross State Value Added (GSVA) by the agriculture and allied sectors has increased by a staggering 186 percent from 2014-15 to 2022-23 in Telangana.
According to the Socio Economic Outlook 2023, released by Finance Minister T Harish Rao on Monday, the Agriculture, Forestry, Livestock and Fisheries sectors’ Gross Value Added (Current Prices) to the State economy has also seen a compound annual growth rate (CAGR) of 14.05 percent from Rs 76,123 crore in 2014-15 to Rs 2,17,877 crore in 2022-23.
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Telangana has made significant progress in the agriculture sector by adopting innovative methods, increasing the use of technology, and providing financial support to farmers.
The State accounts for substantial agricultural produce in rice, maize, lemon, grapes, mango and soybean, with highest production of turmeric and sweet orange.
As per the Socio Economic Outlook 2022, Telangana has emerged as the top contributor to the total Foreign Direct Investment (FDI) inflows in the Agriculture service sector of the country with a share of 26.32 percent between October 2019 and September 2021. During the period, the agriculture service sector in India is estimated to have attracted FDI of more than Rs 3,000 crore.
Agricultural exports are expected to play a pivotal role in doubling the farmers’ income and linking agriculture production to the export market is a critical step. To achieve this, the State government has been striving for all possible linkages to the export markets.
Accordingly, the exports from agriculture and allied sectors in Telangana during 2021-22, accounted for a massive Rs 6,737 crore, indicating the rapid growth in the State. Among the exports, cereals, spices, meat and cotton are the top commodities in the State.
Cotton exports were worth Rs 3,055 crore, while spices, coffee, tea and mate accounted for Rs 1,936 crore. This was followed by cereals with Rs 1,480 crore along with mean and edible meat offal exports at Rs 268 crore.
To improve productivity, efficiency and sustainability in the agriculture sector, the State government is deploying artificial intelligence (AI) and other technologies through pilot projects such as AI4AI-Artificial Intelligence for Agricultural Innovation.
These initiatives are aimed to help bring global competitiveness to the sector in a way that is profitable and sustainable for farmers.
