India is the largest or second-largest producer of most agricultural crops. At the same time, output waste ranges from 7% for pulses to 15% for horticulture. Agriculture is still rain-dependent, with only 45-50% of cultivated land irrigated. With adverse climate events now a regular feature, there can be no certainty in the relation between a normal monsoon and farm output.

Beyond this, fragmented landholdings, limited access to credit and uneven penetration of technology further constrain productivity. Farmers also face volatile market prices and frequent policy shifts, making planning difficult. Building resilience, therefore, requires structural reforms that secure incomes, reduce vulnerability to weather and improve market access. So, how do we make agriculture resilient?

Commercialise agriculture Encourage corporate and contract farming with proper safeguards. It brings a professional, end-to-end approach - from inputs to post-harvest logistics - boosting productivity by treating agriculture as a business, where profits and best practices matter.

Retail chains and food processors already add value through efficient farmer-linked supply chains. Scaling this model can drive broader regional and crop-wise development.

Expand exports There is ample scope to expand exports beyond basmati rice and sugar. Processed dairy, horticulture products, millets and cereals can all anchor a stronger export strategy, raising farm incomes and helping GoI eventually reduce reliance on MSPs. A clear, stable foreign trade policy is essential, so that export curbs are used only in exceptional cases. Paired with contract farming, such an export-led approach can benefit farmers.

Spread eNAM Farmers need access to farm prices across the region, and should be able to sell in the spot market (mandi) of choice. As the spread of mobile phones and UPI has caught on, regular price feeds from the market should be made available in real time. This will help during harvest and deliver better incomes to farmers.

Expand commodity futures trading This needs to be restored for cereals, pulses and oilseeds. These markets are over two decades old, and run on a robust regulatory framework. Futures trading gives farmers clear price signals and a tool to hedge risk, helping avoid the classic 'cobweb cycle', where last season's high prices trigger overproduction and a price crash.

By tracking futures on NCDEX or MCX, farmers can make informed cropping decisions. Trading through FPOs - whether to sell on exchanges, or hedge while selling in the spot market - is the most effective path forward.

Popularise warehouse receipt financing This needs to be done once futures trading is restored. Farmers need not sell at harvest, but can sell in the futures market and seek credit based on a warehouse receipt.

Middlemen take advantage of lower prices during harvest, hold on to the crop, and supply it over the year until the next harvest, benefiting on the price front. This pricing power can be passed on to the farmer if the price is hedged. Banks, too, can take comfort in the price, quantity and quality of the crop backed by the receipt, and can lend on advantageous terms.

Focus on warehousing States need to expand capacities with modern facilities. This will help create the structures needed to support both spot and futures trading. A lot of effort has been put in by NCDEX for storage of farm products, with accompanying grading and assaying facilities. This should be treated on par with roads and railways at the central level.

This 6-point formula should be pursued in unison to ensure broad-based gains for the sector.