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Building farmer resilience through livestock The Hindu BusinessLine

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The Rise of Indian Dairy Industry

India’s dairy industry has experienced significant growth over the years, driven by increasing demand for milk and dairy products. The country’s vast rural population and favorable climate make it an ideal place for dairy farming. With over 100 million dairy farmers, India is home to the largest number of dairy farmers in the world.

Key Statistics

  • India is the largest producer of milk in the world, accounting for over 18% of global milk production. The country’s dairy industry is valued at over $100 billion, making it one of the largest industries in the country. India’s dairy exports have increased by over 20% in the past five years, with buffalo meat being the main export product. ## The Importance of Buffalo Meat in Indian Dairy Industry*

    • The Importance of Buffalo Meat in Indian Dairy Industry

    Buffalo meat plays a crucial role in the Indian dairy industry, accounting for over 82% of the country’s meat exports. The country’s large buffalo population and favorable climate make it an ideal place for buffalo farming.

    India’s livestock industry is dominated by non-dairy sectors, with a significant growth potential.

    The Benefits of Livestock Ownership

    In many agrarian societies, women have traditionally played a crucial role in managing livestock.

    In these states, the KCC facility can be accessed to meet the working capital requirements. KCC provides short-term and long-term loans to the farmers at a fixed interest rate of 4.5% per annum. The loan amounts are up to ₹ 10 lakhs. The loan tenure can be up to 3 years. The interest rate is fixed and the interest is paid by the farmer at the end of the loan period. The interest payment is made in the form of a simple interest. The interest rates for KCC loans vary across different states, but the maximum interest rate is 6.5% per annum. The interest rates for KCC loans can be categorized into three types:

  • Short-term loans with interest rates ranging from 5% to 5% per annum. Medium-term loans with interest rates ranging from 5% to 5% per annum.

    The writer is DGM/Faculty Member, NABARD/National Bank Staff College. Views are personal

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