In developing nations like India, despite of technological advancement we have been less attentive towards our agriculture. Present condition of agriculture is not so satisfactory to produce maximum crop yield because of lack of technology awareness among farmers. As the literacy rates of farmers those involved in agricultural field is significantly low, applying and working with new technology is a major concern. If farmers can embrace new technologies properly, agriculture sector can be a major sector for generating employment as well as increasing GDP in developing countries like India. As of 2012, this sector contributes about 18% of the total G.D.P. of India but around 50% people are involved in this. IoT will help us to increase the productivity of this huge % of people involved in this sector. Application of IoT ecosystem can bring renaissance in agricultural field. IoT will aid in predicting crop yield, crop price, soil temperature, real time data about air quality, water level and proper timing of crop to be delivered to market, which will help to increase productivity. Study says we will have 9.6 billion people on Earth by 2050 which will increase demand for food and IoT in agriculture should be an important driver to meet this requirement. Therefore we need to develop such system which will enhance farming procedure. Objective of this paper is to present an idea how IoT ecosystem can enhance the overall farming output as well as increase GDP.