NITI Aayog, Agriculture Ministry, FAO Launch Investment Forum To Enhance Climate Resilient Agrifood System In India

The initiative plans to foster investment and partnership to boost climate-resilient agrifood systems among the government, private sector, farmers’ organisations, and financial institutions in India

Ramesh Chand, a NITI Aayog member, noted that the agriculture sector accounts for a little over 13 per cent of the overall greenhouse gas emissions in India

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NITI Aayog, the Ministry of Agriculture and Farmers’ Welfare (MoA&FW), and the Food and Agriculture Organisation (FAO) of the United Nations on Wednesday collectively launched the ‘Investment Forum for Advancing Climate Resilient Agrifood Systems in India’. The initiative plans to foster investment and partnership to boost climate-resilient agrifood systems among the government, private sector, farmers’ organisations, and financial institutions in India, an official statement informed. 

Ramesh Chand, a NITI Aayog member, highlighted the need for awareness of agriculture’s contribution to climate change at the inauguration event in New Delhi in his keynote address. The official stated that the agriculture sector accounts for a little over 13 per cent of the overall greenhouse gas emissions in India, reported PTI. 

He noted that agriculture could play a significant role in carbon sequestration via tree plantation on farmland. Chand also urged to look into a new aspect of economic analysis of agriculture production, keeping in mind the impact on natural resources, climate change, and future generations. 

The official suggested that in addition to financial prices, there needs to be more ways of measuring the economic impact of agricultural activities. MoA&FW secretary, Manoj Ahuja, stressed the importance of a multi-stakeholder approach in addressing climate challenges in the country. He further said that the perspective of small and marginal farmers should be given more importance, as they make up 85 per cent of the total farming population in India. 

On solving the food crisis, Shombi Sharp, UN Resident Coordinator in India, noted, “Food demand is predicted to grow at least 50 per cent by 2050, and we urgently need to scale up investments in climate resilience in agriculture to ensure future generations have the resources needed to grow enough food.”

The official statement further said that the two-day meeting included participation from senior representatives of the government, the National Bank for Agriculture and Rural Development (NABARD), the Indian Council of Agricultural Research (ICAR), International Crops Research Institute for the Semi-Arid Tropics (ICRISAT), National Institute of Agriculture Extension Management (MANAGE), World Bank, International Food Policy Research Institute (IFPRI), delegation of the European Union, International Finance Cooperation, and the UN.