The US-India Business Council (USIBC) recently concluded a Food and Agriculture Executive Mission to India. The two-day mission in New Delhi focussed on ways to increase investment in food processing and improve food security in India, and ways that industry in both the US and India can work with the Central and state governments to achieve mutually beneficial solutions in the food and agriculture sector.
In meetings with US and Indian government officials, council members discussed ways to partner with the Indian government to advance prime minister Narendra Modi's "Make in India" initiative, which calls for greater foreign investment in production and manufacturing in India. The committee also discussed policies that the Government of India could pursue that would enhance foreign investment in the food processing sector, food safety and security, foster innovation, boost the competitiveness of local industry, and increase the speed at which new products are introduced to market.
"The council's food and agriculture member-companies represent every aspect of the farm-to-market supply chain, which affirms the US industry's position as a collaborator with shared interests in advancing India's agriculture economy and food industry," said Siraj Chaudhry, chairman, Cargill Foods India and mission co-lead. "Through this mission, and through our work in both the US and India, our efforts are focussed on enhancing bilateral commercial relations and engaging in a regular dialogue on the topic of agricultural productivity and food security in India."
Council members were able to connect with government and corporate leaders and reinforce industry's position as a collaborator with shared interests in advancing India's agriculture economy and food processing industry. The delegates held meetings with minister of food processing industries Harsimrat Kaur Badal and secretary of department of industrial policy & promotion Amitabh Kant. The delegation also had productive discussions with Food Safety and Standards Authority of India (FSSAI), presenting FSSAI CEO Y S Malik with a plan for a capacity building programme to make the agency more efficient and effective in its mission.
Following the mission, Shilpa Divekar Nirula, CEO, Monsanto India region and mission co-lead, commented, "As India charts its growth journey, agriculture has tremendous potential of being transformed into a vibrant sector contributing to millions of our farmers and to the economy. This is an opportune time to recognise the needs of our farmers and synergise Central and state government initiatives with public and private sector investments towards addressing those needs. Policy impetus and a predictable operating environment for participants will encourage solutions focussed on enhancing agronomic practices, managing farm risk, leveraging information technology for capacity building and integrating the value chain thereby contributing to making agriculture productive, efficient, remunerative and sustainable for our farmers."
The mission also featured the first of what may become an annual event - the USIBC - Small Farmers Agribusiness Consortium (SFAC) "Dialogue on Strategies to promote Value Addition in Agriculture." The event, sponsored by Yes Bank and Blumberg Grain, focussed on ways that US and Indian governments and industry can work together to improve the food processing industry in India and featured a discussion on how Indian states have partnered with industry to promote food processing on a smaller scale.
Following the dialogue, Rana Kapoor, MD, CEO and co-founder of Yes Bank, said, "India's economy is predominantly agrarian, with agriculture and allied sectors contributing 18.2% to our GDP (FY 2013-14). Growth in high value agriculture, increased farm productivity and enhanced investments will further boost the sector's contribution. Yes Bank and USIBC believe that an efficient agri-marketing infrastructure is vital to facilitate effective price discovery and transaction functions of the rural economy. The government's proposal to set up a Unified National Market for agri commodities, in close coordination with NITI Aayog and state governments will promote seamless movement of produce from farm to fork, accelerate growth of the sector and ensure food and nutritional security for all Indians."
