India-US Partnership: Enhancing Agriculture and Food Security

A senior ITC official emphasized the need to enhance agricultural productivity, improve food distribution, and adopt sustainable practices to strengthen India-US agricultural ties. With major exports like seafood, rice, and plants, both nations should leverage their strengths and forge strategic partnerships for food security and trade growth.

A senior ITC official has stressed the need for India and the US to enhance agricultural productivity, improve food distribution systems, and adopt sustainable practices to bolster ties in the agricultural sector.

Speaking at an event, ITC Agri Business Division VP Sanjeev Bhat emphasized leveraging respective strengths and forming strategic partnerships through the newly established Trade Policy Forum (TPF) set to begin in January 2024.

Currently, India majorly exports seafood, rice, and plants to the US, with this trade growing at a CAGR of 20-30% over the past three years. Bhat highlighted opportunities in frozen shrimp, fish, and squid, as well as in fish feed and post-harvest infrastructure.

Grant Thornton Partner Chirag Jain suggested that India's push for improved post-harvest infrastructure could make the US a larger market for processed goods. Bhat added that successful R&D models should be replicated and barriers to technology transfer minimized.

Moreover, both nations should collaborate on capacity building in climate-smart agriculture, productivity growth, and crop risk protection. Indo-US partnerships should also focus on increasing fresh produce trade and resolving issues related to tariffs and non-tariffs, agricultural subsidies, and food safety regulations.

Jasmohan Singh, Chairman of the Agro & Food Processing Committee at IACC, advocated for sustainable trade pacts and identified opportunities for US investments in Indian agriculture. However, he noted obstacles such as tariff issues, IPR laws, and regulatory hurdles pertaining to food safety.

(With inputs from agencies.)