India,China must invest $29 bn/yr in agri sector

India and China,the world's two largest consumers of farm items,must invest $29 bn a year.

India and China,the world’s two largest consumers of farm items,must invest USD 29 billion a year in agricultural sector in order to meet their food demand in 2050,the Food and Agriculture Organisation (FAO) said.

“As much as USD 29 billion would need to be spent in the two countries with the largest population India and China,” FAO said in its discussion paper prepared for an high-level meeting on ‘How to Feed the World in 2050’ to be held in Rome on October 12-13.

The investment is required in primary agriculture and necessary downstream services such as cold chains,storage units,processing and market facilities,it said.

Story continues below this ad

Pointing that most of the investment will have to come from private sources,FAO said private investment needs to be encouraged at all stages in the value chain.

Besides,the countries need to create a favourable investment climate and address issues such as lending policies to agriculture,risks and limitations on the ability of microfinance systems to bring about a step-change in production and productivity,it added.

The UN body also noted that “the foreign direct investment in agriculture in developing countries could make a significant contribution to bridging the investment gap”.

The FAO paper also highlighted that the total farm investment in developing countries needs to be increased by about 50 per cent to USD 83 billion.

Tags:
FAO

A court in Antwerp passed the order initiating the formal process of bringing Choksi back to India. But, he still has options to challenge the order passed by the lower court.

Belgian court clears fugitive jeweller Mehul Choksi’s extradition to India

India1 hr ago

Mehul Choksi, a fugitive diamantaire wanted in India for a Rs 13,000 crore loan fraud case, has been cleared for extradition by a court in Antwerp, Belgium. The Indian government has assured that Choksi will be held in a specific jail complex and provided with basic amenities if extradited. Choksi's extradition proceedings have advanced in Belgium and he has the option to challenge the order.

View all shorts

Live Blog

PHOTOS