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The agricultural sector in India stands as a cornerstone of the nation’s economic development and the pursuit of sustainable development goals, particularly in eradicating hunger and poverty. Contributing a substantial 18.30 per cent to the Gross Domestic Product (GDP) and serving as the primary source of livelihood for approximately 65 per cent of the population, agriculture holds a position of paramount importance in the economic and social landscape of the country. Agriculture is often referred to as the “Gamble on the Monsoon” due to its heavy reliance on factors like the monsoon season, as well as other variables such as pests, diseases, seed quality, fertilizers, and pesticides. These elements significantly impact production and farm incomes, adding an element of uncertainty akin to a gamble. However, amidst its significant contributions to the nation’s prosperity, the agricultural sector is beset by a variety of risks that directly impact the livelihoods of farmers. Agricultural risks in India are exacerbated by various factors, including climate change, frequent natural catastrophes, pests, diseases and price fluctuations, all of which pose significant threats to farmer’s livelihoods. Of these, the impact of climate change stands out prominently, disrupting weather patterns, exacerbating the frequency and severity of natural disasters and rendering the predictability of seasons increasingly elusive. For farmers, particularly those operating on the margins of subsistence, adapting to these rapid shifts in climate poses a daunting challenge, as they grapple with the uncertainties and risks posed by extreme weather events and climatic fluctuations.