Agriculture Insurance: A Panacea for the Development of the Agriculture Sector in India

In many emerging nations, agriculture remains the industry that is most crucial. Agriculture financing will contribute to feeding 9 billion people by 2050 by facilitating the expansion of food value chains and enabling underprivileged farmers to increase their income. Global food demand is projected to increase by 70% by 2050, necessitating annual investments of at least $80 billion [1]. To eradicate hunger, achieve food security, and promote sustainable agriculture are the three objectives of the second sustainable development goal (SDG2). Agricultural insurance is a useful safeguard for achieving SDG2. For agriculture to be viable, farmers must be shielded from natural disasters and given credit eligibility for the upcoming season. The study examines the sector of agriculture insurance in India's present policy initiatives. In the current study, a content analysis technique is used to assess and analyse the viewpoints on development and performance analysis of India’s current agricultural insurance programmes. The researchers also suggested a plan to boost the effectiveness of the agriculture insurance programme. To improve the insurance programme and carry out the sustainable agriculture mission, governments and development organisations must take a more active part in collaboration with commercial reinsurers, technology providers, input suppliers, and financial institutions.