India markets closed
  • BSE SENSEX

    52,578.76
    -273.51 (-0.52%)
     
  • Nifty 50

    15,746.45
    -78.00 (-0.49%)
     
  • Dow

    35,144.31
    +82.76 (+0.24%)
     
  • Nasdaq

    14,840.71
    +3.72 (+0.03%)
     
  • BTC-INR

    2,831,472.25
    -49,610.50 (-1.72%)
     
  • CMC Crypto 200

    904.62
    -10.86 (-1.19%)
     
  • Hang Seng

    25,086.43
    -1,105.89 (-4.22%)
     
  • Nikkei

    27,970.22
    +136.93 (+0.49%)
     
  • EUR/INR

    87.7706
    -0.0053 (-0.01%)
     
  • GBP/INR

    102.5989
    -0.1283 (-0.12%)
     
  • AED/INR

    20.2110
    +0.0180 (+0.09%)
     
  • INR/JPY

    1.4761
    -0.0060 (-0.40%)
     
  • SGD/INR

    54.7270
    -0.0030 (-0.01%)
     

Want to be a farmer in India? Here is how much you need to invest

·2-min read
Farmer with hat standing in a coffee plantation field and looks into the distance. Concept image
Farmer with hat standing in a coffee plantation field and looks into the distance. Concept image

India is a country where agriculture is the go-to profession for a majority of the population. We are talking of a hefty percentage — about 60% to 70% of Indians are farmers. This sector also provides additional employment to about 52% of people working as labourers on farms. The sector is one of the most significant contributors to the country’s GDP, at 14-15%.

Climate conditions, cheap labor, and solid infrastructure support the inherent desire to grow food make farming a viable business in the country. In India, becoming a farmer means you will have to take care of certain aspects, starting from land acquisition, managing agricultural material like soil, fertilisers, grains, livestock, and subsidiary support systems like farm vehicles and labor.

To become a farmer in India, the minimum investment that one will have to put in depends on the type of farming one chooses. Among the different kinds of farming, there is urban agriculture, crop farming, fruit and vegetable farming, poultry, and dairy.

The first step to any farming activity is the acquisition of land. Even a small-scale farmer requires at least 30 acres of land that is fertile to grow crops or set up a farm. Depending on the location (urban or rural), the land costs between Rs 5 and 10 lakh.

The next step is to list all the subsidiary charges incurred while the farming process is in operation. To run the farm, one will need a couple of full-time employees or labourers, which will cost about Rs 8,000. For the hard labor on the field, there is always the possibility of hiring daily wagers, between Rs 150 and Rs 500 per day, depending on the state or area one is based in. In an urban setting or a high-end metro, labourers charge about Rs 500 per day. In a poorer state like Odisha, labor can be hired at Rs 150 per day.

Next, one will have to acquire seeds and fertilisers, which come at varied prices. In India, per hectare consumption of fertiliser is 147kg. They cost between Rs 500 and Rs 1000 per 50kg bag. Seeds cost between Rs 700 and Rs 2,000 per bag, depending on whether you are growing regular or exotic crops. Indian farmers depend on organic fertilisers, too, to reduce the cost incurred in chemical fertilisers.

Starting a farm is not a challenge in India. It is making it profitable that counts at the end of the day.

Don't miss: How do you know your bank is trustworthy? Here is a checklist

Richest and poorest states in India by GDP

Buying your first home? Here are five things to consider

These are the world’s 10 richest millennials

World's 10 most powerful passports: how does India fare?

This content is not available due to your privacy preferences.
Update your settings here to see it.
Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting