Importance of agriculture in India economy

Source of Livelihood-The main source livelihood of many people is agriculture. Approximately 70 % of the people directly rely on agriculture as a mean of living.
Contribution to National revenue-Agriculture is the main source of national income for most developing countries.
Significance to the international trade-Agricultural products like sugar, tea, rice, spices, tobacco, coffee etc. constitute the major items of exports of countries that rely on agriculture. This helps to reduce countries unfavorable balance of payments as well as saving foreign exchange. This amount may be well used to import other essential inputs, machinery, raw-material, and other infrastructure that is helpful for the support of country’s economic development.
Marketable Surplus- The growth of agricultural sector contributes to marketable surplus. Many people engage in manufacturing, mining as well as other non- agricultural sector as the nation develops. All these individuals rely on food production that they might meet from the nation’s marketable surplus. As agricultural sector development takes place, production increases and this leads to expansion of marketable surplus. This may be exported to other nations.
Foreign Exchange Resources- The nation’s export trade depends largely on agricultural sector. For example, agricultural commodities such as jute, tobacco, spices, oilseeds, raw cotton, tea as well as coffee accounts for approximately 18 % of the entire value of exports of a country. This demonstrates that agriculture products also continue to be important source of earning a country foreign exchange.
Great Employment Opportunities- Construction of irrigation schemes, drainage system as well as other suchactivities in the agricultural sector is important as it provides larger employmentopportunities. Agriculture sector provides more employment opportunities to the labor force that reduce the high rate of unemployment in developing countries caused by the fast growing population.