Niti Aayog Member Predicts India's Potential to Become a Global Power in Agriculture Commodities Market

On Saturday, Ramesh Chand, a Niti Aayog member said that India can emerge as a global power in the selected three or four agricultural yields if the government seeks modernization and motivates corporates to invest in agriculture.

While ensuring food security and taking part in the panel session on ‘Can India be the food bowl for the World at the Food Conclave here, he spoke that to become a global leader, India could look at rice, milk, and sugar as commodities.

Also, he said that our share in global exports is 2 to 2.5 per cent but India’s agriculture production is just 6 to 7 per cent of the total global output. The Rule of thumb is that we can be a world power if we are among the top 5.

For some years, India was relishing a 50 per cent share in rice which was huge enough. Chand also said that we account for 24 per cent of the global milk production and 18 per cent of the sugar output.

Lesser Yield

One of the Niti Aayog members said that although, India’s per hectare and per animal yield is lower but, we can accelerate the production and export. There is a scope to expand the production in the states itself. Production of milk in Assam is 1.5 kg per animal against the 11 to 12 kg in other states. To accelerate production, we need to identify such commodities as well. We need to become an efficient producer on the milk front and not be afraid of imports as anyone scared of imports can never improve. All we need to do is to tap the potential via nature and government policies and in 10 to 15 years we can become a global power.

Amounting UPI

The Niti Aayog member said that India should have a look into the matter with precision and science-based farming, besides producing one or more arable areas.

India’s ‘agristack’ programme has the capability to amount to the success of UPI and its ecosystem while it was being formed, said S Sivakumar, CEO of ITC. Also, he said that we can go in for climate risk and market proximity to decide on the crops with a competitive advantage to make their way in the global market.

Quality Examination

India is a resilient country in agriculture production, said Sanjay Sancheti, Country head and Executive Director, Olam Agro India.

Additionally, he said that no one thought that India can generate 130 million tonnes of rice. With the government’s support, advanced technology, and climate resilient characteristics, India can do better. Although, India will have to look at the quality of exports and not volume.

Thailand and Vietnam, on the other hand, were selling their yield at a premium with growers shifting to other crops from rice.