India and Africa aim to change the global landscape of agriculture and food production, by partnering together to improve global food security.
According to India Inc, India’s experience can benefit Africa’s agriculture sector as it is estimated to grow to almost $1 trillion by 2030.
A. Didar Singh, the secretary general of the Federation of Indian Chambers of Commerce and Industry (FICCI) said that India needs to look for more consumers and the African continent is one of the most unexploited markets.
According to a PricewaterhouseCoopers (PwC) report, “The continent houses almost 60 percent of the world’s uncultivated land and an abundance of natural resources.”
Ajay Kakra, the head of PwC India agriculture and natural resources said Africa’s gross domestic product (GDP) has 11 of the world’s fastest growing economies and estimated to reach $2.6 trillion by 2020.
“At present, India and Africa together have manpower of almost $2.2 billion and a combined GDP estimate of more than $3 trillion,” Kakra said.
“The agricultural sector in Africa has great potential to contribute to this growth, with the continent having almost 60 percent of uncultivated land in the world and currently producing only 10 percent of the global output,” he added.
The PwC report recommended ''public-private’’ partnerships as a chain key to take Africa’s agriculture to the next level and government support to the private sector should not be underestimated.
Source: newsgram.com