To truly revolutionize the Indian food sector and ensure its economic success, a comprehensive multifaceted development approach incorporating public-private partnerships like that of FCI and Adani Group, along with the new farm law, will do the job
As per the UN Food and Agriculture Organization, India is home to around189.2 million undernourished people which accounts for14 per cent of the nation’s total population. NITI Ayog, India’s think tank, predicts that the country might not be able to meet the food requirements of its surging population by 2032.
Indian food sector can be resurrected by implementing multifaceted development approaches through public-private partnerships, which willfacilitatea comprehensive reform. The issues that require immediate attention are not just limited to selling the produce, but also on how the crop is grown, processed and distributed.
In order to achieve the economic success in farming, a public-private partnership, like that between FCI and Cargill, PSGC Technologies, Adani and the requisite policy support from the new farm law,will resolve the entrenched structural problems of the food sector.
The new legislative reforms a.k.a. ‘farm laws’ by the press, are a part of the progression aimed at turning the sector around but is not the complete solution by itself.
An extensive and comprehensive package of initiatives and measures will ensure a truly meaningful rectification in the domain, while the farm law alone can only address a part of the whole problem. The solutions should attend to multiple dynamics: ensuring food security for India, growth prospects for private sector, fair gains for producers and generation of employment opportunities for rural India. All of these developmental worksshould also necessitate land productivity and sustainability within the system. The state as well as the private sector will have to enter a well-aligned consortium to render an on-point remedial course of action.
As an attempt to encourage farmers to augment production, the Food Corporation of India (FCI) was established to procure grains at a minimum support price (MSP) and facilitate a steady supply and price. This was to safeguard farmers from pervading exploitation by traditional intermediaries at village level.
While a nationwide deregulation of all commodities is underpinned by the three new farm laws, many overseas and private Indian companies like Adani Enterprises, Nimble Growth Organics, UniproTecho Infrastructure etc., have ventured into the agribusiness and collaborated with statutory bodies to bolster the Indian food sector.
Much before the new farm law, private players like Adani Group, ITC and Cargill have collaborated with FCI to build scientifically designed silo storage facilities and prevented tonnes of grains from getting damaged.
Additionally, 24 Mantra Organic and Adani AgriLogistics, a subsidiary of Adani Group, also trained and educated farmers to implement revenue generating techniques in order to boost their incomes. These companies procured the yield directly from the farmers, removing intermediaries from the loop.
In a country that is home to more than 70 million farmers, the task of delivering a balanced, sustainable growth becomes a bit harrowing and all the more important. While the new reforms and public-private collaborations are at it, the nation’s best interests lie in strengthening the entire supply chain.
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