Agriculture is the backbone of India’s economy, contributing 18 percent of GDP, providing employment to 60 percent of India’s workforce, and accounting for 15 percent of India’s exports.
Opportunities for New Zealand providers of products and services in the Agritech sector exist in:
- Dairy – The New Zealand dairy industry is held in very high regard in India. The Indian co-operative approach adopted by the dairy industry at large is similar to the co-operative system practiced in New Zealand. India is the world’s largest producer of milk but is facing serious concerns regarding its ability to increase milk production to cater to increased demand from an expanding consumer population.
- Horticulture – India is very interested in productivity improvements in this area and looks to other countries, including New Zealand, as models for development. New Zealand apple orchards are 10 times more productive than their Indian counterparts. In India, rootstocks are very old and varieties grown are not suited for export markets.
- Livestock raising and meat processing – Meat is both a culturally and commercially sensitive area in India and most New Zealand meat exports are blocked by non-tariff barriers. While New Zealand persists in seeking solutions to these barriers with India, there is an opportunity for
providers of equipment and technology for abattoirs and meat processing facilities.
- Seeds – The Indian seed industry is worth NZ$2.5 billion and is growing at a rate of 13 percent each year. In the case of vegetable seeds and planting material for horticultural crops, the private sector
dominates the market, with both multinational and Indian companies performing strongly.
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