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India-Africa partnership in global food security

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The partnership between India and Africa is rapidly evolving. India and Africa have tie-up as key partners for the global food security with the change of global landscape for agriculture and food.

According to India Inc, India’s experience benefits Africa’s agriculture as Africa’s farm sector estimated to grow to $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 a renovation and look for consumers whereas the African continent offers one of the most unexploited markets, in a forward to a global accounting firm PricewaterhouseCoopers (PwC) report on agricultural partnership between India and the 54-nation.

According to the PwC report, Africa “represents the ‘last edge in global food and agricultural markets”.

“The continent houses almost 60 percent of the world’s uncultivated land and an abundance of natural resources.”

Due to the financial problem, Nigeria, which is called as the largest African economy, was rotating to China for the commercial agriculture.

Sub-Saharan area is said to have the large percentage of uncultivated fertile land and presence of water and sub-Saharan Africa alone requires $50 billion annual investments to make the agricultural system work better.

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 continent hopes to increase $280 billion agricultural output in 2010 to $880 billion in 2030.

“This increase will be enabled by bringing potentially cultivable land into cultivation, increasing yields and shifting to the cultivation of high-value and high-yielding crops,” Kakra said.

“Over the last decade, countries that have increased investments in agriculture as per the Comprehensive Africa Agriculture Development Programme (CAADP) targets have seen reductions in hunger and poverty, and increases in productivity,” it said.

“Ghana, Togo, Zambia, Burundi, Burkina Faso, Mali, Niger, Congo, Senegal, Ethiopia and Malawi are some examples,” it 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.(IANS)

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Xiaomi Drops Down Smartphone Prices in India

This is the first time when the smartphone market is at par with the feature phone market, each contributing 50 per cent to the overall mobile phone market

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Xiaomi
Xiaomi cuts prices of 5 smartphones in India.

Chinese smartphone maker Xiaomi on Friday announced that it was permanently cutting the prices of five of its handsets in India, a day after the International Data Corporation (IDC) declared that the company was the market leader in the third quarter of 2018 in the country.

“We are delighted to share that we have seen a reduction in component costs of some of our best-selling phones. We were announced as the number one smartphone vendor in India for the fifth consecutive quarter, as per IDC Quarterly Mobile Phone Tracker.

“As a celebration of that, Xiaomi is announcing price cut for five smartphones,” the company said in a statement.

Xiaomi
Chinese smartphone maker Xiaomi on Friday announced that it was permanently cutting the prices of five of its handsets in India.

The 4GB+64GB variants of Redmi Note 5 Pro, Mi A2 and Redmi Y2 are now available for Rs 13,999, Rs 15,999 and Rs 11, 999, respectively while the prices of 6GB+128GB variants of Redmi Note 5 Pro and Mi A2 have dropped to Rs 15,999 and Rs 18,999, respectively.

According to the IDC report, the Chinese handset maker shipped 11.7 million units and became the top brand in the Indian market with 27.3 per cent share in the third quarter this year.

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This is the first time when the smartphone market is at par with the feature phone market, each contributing 50 per cent to the overall mobile phone market. (IANS)