Green Revolution 2.0: How Biological Inputs are Shaping India’s Agricultural Exports and Imports?

Author: Leena Sharad Shimpi, Deepak Verma and Shivam Dubey

Download PDF

Abstract

The Indian agricultural biologicals market was valued at USD 446.26 million in 2022 and is projected to grow to USD 1,269.24 million by 2030. This significant growth is poised to directly impact agricultural practices in India. Biological inputs such as biofertilizers, biopesticides, biostimulants, and other natural products are pivotal in promoting sustainable agriculture by enhancing productivity, improving soil health, and reducing dependency on chemical inputs. These environmentally friendly and economically viable alternatives support plant growth and crop protection, contributing to higher productivity and long-term agricultural sustainability. This paper evaluates the impact of biological inputs on agricultural production and their influence on India’s exports and imports, thereby affecting the balance of payments. The findings suggest that improving India's balance of payments requires a multi-faceted strategy encompassing both export and import enhancements and advancing the use of biological inputs and biotechnology in agriculture to boost output.

Keywords

Agriculture, Biological inputs, Balance of Payment, Exports, Imports

Conclusion

In conclusion, improving India's balance of payments requires a comprehensive and multi-faceted approach that targets both exports and imports while leveraging advances in biological inputs and biotechnology to enhance agricultural productivity. Diversifying the export basket by investing in high-value sectors such as electronics, pharmaceuticals, and renewable energy technologies is essential. Enhancing export competitiveness through reduced logistics and compliance costs, along with improved access to global markets via favorable trade agreements, is crucial. Promoting startups and innovation in high-demand industries like artificial intelligence, biotech, and clean energy can further stimulate agricultural production and increase export volumes. Reducing import dependence by promoting domestic manufacturing and expanding renewable energy capacities to lessen reliance on imported crude oil and coal is vital. Strategies to lower oil imports should include promoting energy efficiency and alternative fuels, while boosting domestic oilseed production can significantly reduce edible oil imports. Integrating biotechnology and advanced biological inputs into agriculture, such as genetically modified crops, precision farming, and biofertilizers, can optimize resource use, reduce environmental impact, and increase crop yields. These advancements will enhance agricultural exports and ensure domestic food security. By adopting this multi-faceted strategy, India can improve its balance of payments, create a more resilient and sustainable economic framework, and ensure long-term economic stability and growth.

References

-

How to cite this article

Leena Sharad Shimpi, Deepak Verma and Shivam Dubey (2023). Green Revolution 2.0: How Biological Inputs are Shaping India’s Agricultural Exports and Imports?. Biological Forum – An International Journal, 15(6): 977-982.