- With countries across the world diversifying amid tight economic realities, agriculture has been tipped to provide messianic support for India
- A report by Aspire Impact written by leading agritech experts submitted that agriculture can provide solutions to food insecurity
- The report also submitted that India, the world's second-most populous country, can generate $813 billion in revenue by 2030
With agriculture taking the front aisle in the mainstay of the economy in countries across the world, investment in agritech and allied segments has been tipped to transform the face of the second-most populous country in the world, India.
This is contained in an in-depth report titled 'Investing for Impact: Food, Agri and Agritech' by Aspire Impact.
Beyond jobs and food security
According to the report authored by leading agritech experts, industry leaders, academics and thinkers, agriculture will provide sustainable farming solutions and food security, Economic Times reports.
Federal government push for Nigeria's food self-sufficiency, opens huge N525bn opportunity in seeds market
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Apart from this, the report submitted to India can generate USD 813 billion in revenue creating 152 million jobs, making it the largest private-sector industry in the country.
"With smart innovations, infrastructure and policy support and newer business models, the top-10 ideas researched by the IFP community can attract USD 272 billion in investments and generate USD 813 billion in revenue, impacting 1.1 billion lives," Amit Bhatia, founder of Aspire Circle and creator-Impact Future Project posited in the report.
India, with a population of 1.3 billion, has already made an investment of USD 272 billion in agritech and allied segments expected to span till 2030.
FG opens huge N525bn opportunity in seeds market
Earlier, Legit.ng reported in a related report that there is a huge billion Naira opportunity waiting for Nigerians to tap into in the seed industry, as the federal government intensifies its efforts to ensure the country is self-sufficient.
Nigeria's seed industry potential is estimated to be N777.38 billion, but what is domestically available is valued at N252.35 billion, leaving a N525.04 billion gap.
The most recent data from the National Agricultural Seed Council (NASC) reveals that Nigeria’s total national seed requirements for major crops, including maize and rice, stood at 413,417.64 metric tons (MT) as of 2017.