The escalating threat of heat and drought stress, fueled by climate change, is wreaking havoc on India’s agricultural sector, with far-reaching socioeconomic consequences. This chapter comprehensively examines the multifaceted impacts of these climatic stressors on crop yields, livestock productivity, food security, livelihoods, and rural communities. Evidence reveals alarming yield reductions across major crops: rice (10–40% due to heat, 20–50% due to drought), wheat (6–35% heat, 15–40% drought), maize (10–25% heat, 25–45% drought), and pulses (15–30% heat, 30–60% drought). Livestock, a crucial component of India’s agricultural economy, also suffers, with milk yield losses of 10–30% in cattle and 8–25% in buffaloes. These losses translate into economic burdens exceeding billions of dollars annually. The socioeconomic ramifications extend beyond production losses. Increased food prices, malnutrition, farmer indebtedness, and forced migration are some of the devastating consequences. Heat and drought further exacerbate social vulnerabilities, especially for women, and intensify conflicts over dwindling resources. The health of rural populations is also at risk, with rising cases of heat-related illnesses and mental health issues. Mitigating these impacts necessitates a multipronged approach, encompassing drought-resistant crops, efficient irrigation, climate-smart agriculture, carbon farming, early warning systems, and targeted support for vulnerable communities. Addressing socioeconomic disparities and promoting gender equity is paramount to building long-term resilience in Indian agriculture.