Abstract
India’s 1991 economic reforms, prompted by a balance-of-payments crisis, marked a shift from a state-controlled to a market-oriented economy, significantly reshaping agriculture, which employed over 60% of the workforce in 1991 and contributed 29% to GDP. This article analyzes the reforms’ impact on agricultural productivity, crop diversification, trade, rural employment, and socio-economic disparities from 1991 to 2024. Using data from the Ministry of Agriculture, Reserve Bank of India, Indian Council of Agricultural Research (ICAR, 2024), and recent studies, it reveals a 49% rise in food grain productivity (1,738 kg/ha in 1990–91 to 2,600 kg/ha in 2023–24), a 13-fold increase in agricultural exports ($3.2 billion in 1991 to $42 billion in 2018, with 2024–25 projections at $17.77 billion for April–December), and a decline in rural poverty from 50% in 1993 to 22% by 2024 (USDA, 2024; NSSO, 2019). The 2023–24 record food grain production of 332.3 million metric tons (MMT) reflects progress, yet declines in pulses (23.9 MMT) and oilseeds (39.5 MMT) signal vulnerabilities (IBEF, 2024). Smallholders, comprising 85% of farm households, faced challenges from reduced subsidies, market volatility, and environmental degradation, including groundwater depletion and soil erosion. Regional disparities, particularly in eastern states, exacerbated inequalities. Data tables and Python-generated graphs illustrate these trends. The study advocates for policies enhancing credit access, sustainable practices like organic farming, and infrastructure development (e.g., cold storage, rural roads) to address smallholder challenges, promote inclusive growth, and ensure environmental sustainability, balancing market-driven reforms with equitable support.