Is Agriculture Blocking India’s $10T Dream?

Why does 50% of India’s workforce remain in agriculture while the U.S. has just 2%?

Despite all those hands in the soil, the sector contributes just 15-18% to the GDP.

While countries like the U.S. and Europe shifted quickly from agriculture to industry, India’s progress was pretty slow. So, is it too late for India to catch up and move on from agriculture?

Although India did build textile mills and steel plants, its industrialization lagged behind faster-growing Asian economies like Japan, South Korea, and China, which aggressively pursued manufacturing.

So, what happened?

Well, India’s focus remained on agriculture, missing the chance to build a strong industrial base that could absorb its large agricultural workforce. But there’s a new hurdle—manufacturing isn’t the job creator it once was.

Experts like Subhash Garg argue India may have missed the industrialization train. With automation reducing labour needs, ramping up manufacturing might not create enough jobs for India’s vast workforce.

In this episode of The Neon Show, Subhash Garg, former Secretary of Economic Affairs, shares his unique perspective on India’s economic ambitions and the journey toward the $10 Trillion Dream.

Check out Subhash Garg’s book The Ten Trillion Dream Dented

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