One of the reasons why inflation has been so high in India in recent times is firmer food prices. While there is no doubt that rising demand was one of the factors that fuelled this rise, there were many issues on the supply side as well which stoked prices. For starters, inadequate warehousing and storage facilities meant that vast quantity of foodgrains was wasted. Unpredictable weather patterns also disturbed food production leading to shortages. Not just that, volatility in the global food market has also made the country vulnerable to price shocks given that some food grains such as pulses are imported. And in a scenario where India's population is expected to only increase going forward, ensuring food security has become an important issue for the government.
Thus, one of the ways it proposes to do so is to make private purchases of farmland overseas. In this regard, the agriculture ministry has sought views from other ministries on an institutional mechanism to extend sovereign support to India Inc's acquisition of farm land abroad that could include guaranteed buyback of harvest from the cultivation overseas. And Africa is one such region that the government has set its sight on for cultivating land for the production of pulses and wheat.
Whether this move is enough to ensure food security in India in the longer run remains to be seen. For starters, cultivating land in Africa may not be as easy as it seems on paper. The region is rife with corruption and civil war and buying land could be a process steeped in hurdles. Which is why what the government also needs to do is invest more in agriculture in India so as to improve the productivity of land. Investments in storage facilities and some much needed reforms in agriculture will also go a long way in bolstering agricultural productivity in the longer run.
Thus, one of the ways it proposes to do so is to make private purchases of farmland overseas. In this regard, the agriculture ministry has sought views from other ministries on an institutional mechanism to extend sovereign support to India Inc's acquisition of farm land abroad that could include guaranteed buyback of harvest from the cultivation overseas. And Africa is one such region that the government has set its sight on for cultivating land for the production of pulses and wheat.
Whether this move is enough to ensure food security in India in the longer run remains to be seen. For starters, cultivating land in Africa may not be as easy as it seems on paper. The region is rife with corruption and civil war and buying land could be a process steeped in hurdles. Which is why what the government also needs to do is invest more in agriculture in India so as to improve the productivity of land. Investments in storage facilities and some much needed reforms in agriculture will also go a long way in bolstering agricultural productivity in the longer run.
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