ITC Chairman Sanjiv Puri Emphasises Vertical Growth Opportunities in Agriculture Amid Food Security Concerns

Concerns about global food and nutrition security are rising, contributing to persistent food inflation, according to ITC Chairman & Managing Director Sanjiv Puri. He emphasised the need for the agriculture sector to grow vertically while building resilience through sustainable farming and technology solutions. At a CII event, Puri highlighted the importance of increasing productivity and quality while addressing challenges like climate change.

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Climate Change and Agriculture

The agriculture sector faces significant challenges due to climate change, which affects weather patterns. These issues are not future concerns but are present today. Puri pointed out that India has many small and marginal farmers. He questioned how these farmers can be empowered to become productive and future-ready, seeing this as a growth opportunity.

Sustainability in Farming

Puri stressed the importance of sustainability in farming practices. He advocated for transforming farming methods to be more environmentally friendly. New-age digital technologies should be harnessed to provide innovative solutions for farmers. Government support for startups has significantly contributed to progress in this area.

Despite advancements, challenges remain, and recognising the current opportunities is crucial. Estimates suggest that global food production must increase by 2050 amid depleting natural resources. This presents a significant opportunity for India to expand its share in global trade from around 2% to 3%.

Puri also noted the increasing demand for traceability and sustainable farming practices. The potential for growth in these areas is substantial, offering a chance for India to enhance its agricultural sector's contribution to global trade.

The focus on sustainable farming, technology integration, and empowering small farmers is vital for addressing current challenges. By doing so, India can seize opportunities for growth in agriculture while ensuring food security and environmental sustainability.