Agriculture is the world’s largest industry, playing a crucial role in providing food and driving economic and societal growth. It currently contributes approximately 4% to global gross domestic product (GDP), and in many least-developed countries, this figure can exceed 25%. In India, agriculture occupies a central role in the economy, focussing on three primary objectives: promoting inclusive growth, enhancing rural income, and sustaining food security. It accounts for nearly 14% of India’s GDP and contributes about 13% of its exports. Remarkably, agriculture supports around 58% of the workforce, highlighting its importance as the principal source of income for millions of people across the nation.

Despite its significance, the agricultural sector faces substantial challenges in the 21st century. With population growth, climate change, and limited natural resources as challenges, the sector has to spread its innovation and sustainable practices to the world while protecting the environment. Experts and leaders from different industries came together to discuss "Vision Agriculture 2047" through a panel discussion at the Centenary Celebration of Halder Group to shed light on how agriculture can evolve over the next two decades. Their insights provide a roadmap for creating a resilient, sustainable, and inclusive future for food production.

Halder Group, a leading agricultural manufacturer who has overcome challenges as well as thrived in this sector for 100 years now, believes in sustainable practices and overcoming challenges with innovation. 

The factors below are how we can shape the next 20 years in agriculture with economic and societal contributions:

Global Food Security and Sustainability

Moderator Mr. Ambarish Dasgupta, Senior Partner, Intueri Consulting opened the panel discussion by emphasising the ambitious objective that India, along with agricultural pioneers like the Halder Group, has set for the future: "Food for All, Healthy Food for All, and Sustainability of the World Forever."

This goal focusses on feeding the world sustainably, ensuring that future generations inherit a future capable of supporting life. The vision of universal food security entails innovative agricultural practices that minimise environmental impact and maximise productivity.

Advancements in organic farming, precision agriculture, and the use of climate-resistant crops will play a pivotal role. These innovations aim to provide healthy food for all by reducing the use of chemical fertilisers and pesticides, ensuring that the food is both nutritious and environmentally sustainable.

Population Growth, Climate Change, and Resource Depletion

The global population is expected to increase by 20% over the next two decades, and the pressure on agricultural systems will rise drastically. Simultaneously, climate change will make it harder to grow food due to unpredictable weather patterns, reduced water availability, and declining soil fertility.

Mr. Rajib Basu, a Management Consultant,  highlighted these three critical factors that will shape the future of agriculture by 2047: population growth, climate change, and resource depletion, demanding innovative solutions. 

He mentioned a blend of technological advancements, such as vertical farming, and sustainable practices like regenerative agriculture will be more popular in the coming years to ensure continued productivity without further depleting the planet’s resources.

Financial Inclusion and Digitalisation for Farmers

One of the most pressing challenges for farmers, especially smallholders, is accessing financial services. Mr. Jayanta Chakraborty, Chairperson of the Agriculture and Rural Development Committee, Bengal Chamber of Commerce and Industries, pointed out the importance of digitising land records and improving financial systems.

Digitalisation can revolutionise agriculture by allowing farmers to access loans, insurance, and government subsidies more easily, even if they lack traditional land ownership records. By easing collateral requirements and providing structured financial support, governments and institutions can empower farmers to invest in sustainable technologies and practices that boost productivity while reducing environmental impact.

Digital finance platforms can create a more inclusive financial ecosystem, ensuring that small farmers are not left behind in the transition to modern agriculture.

Eliminating Hunger Through Innovation 

"There are still places in the world where food scarcity exists. While we can boost pesticide and fertiliser-free production through innovation, we must prioritise those who lack access to food and find ways to eradicate hunger. Despite the advancements in agriculture, food scarcity remains a global issue,” says Mr. Keshab Kumar Halder, MD & CEO of Halder Venture Limited.

Innovation in farming practices can indeed address both the challenges of hunger and environmental degradation. The introduction of methane-reducing techniques, such as optimising water usage in rice paddies, can help lower emissions while improving food production. The shift toward organic manure and modified seeds can further enhance yields without harming the environment. To truly address hunger, agricultural advancements must prioritise regions that suffer from chronic food insecurity.

Innovation in Food Production and Processing

As consumer demands evolve, the agriculture and food industries must keep pace with changing expectations. The future of food production will involve significant innovation in processing and packaging technologies. "In 2047, for a variety of reasons, both physical as well as business, the consumer would expect not only natural food but also fresh food in a packaged form, and therefore capturing freshness at the point where food is actually grown is going to be one of the biggest challenges," says Mr. Ashok Barat, former MD & CEO of Forbes and Company Limited, at the panel discussion. The circular economy model will also take centre stage, with a focus on reducing waste throughout the supply chain. Repurposing agricultural by-products into bioenergy or organic fertilisers will contribute to both sustainability and profitability. Additionally, plant-based and lab-grown proteins will emerge as alternatives to traditional livestock farming.

Halder Group as a business is striving towards a more sustainable world, ensuring healthy food for all. One key approach involves using manure and reducing water consumption, thereby moving towards carbon-neutral farming. This not only helps lower carbon emissions but also enhances carbon sequestration in the ecosystem, contributing to a sustainable future.

Additionally, they are making efforts to minimise raw material waste from farm to table. For instance, paddy straw, which was once considered waste, is now being repurposed for various applications, reflecting a policy of zero waste that enhances the value of agricultural products.

In the next 20 years, agriculture will undergo a dramatic transformation to meet the demands of global population growth while contending with climate change and limited resources. The agroindustry can thrive and contribute to both economic growth and environmental health with the help of government, policymakers, businesses, and farmers working together. 

Panel discussion - https://www.youtube.com/watch?v=blmpSV_NqOo&t=43s