NITI Aayog, Ministry of Agriculture and Farmers' Welfare (MoA&FW), and Food and Agriculture Organization (FAO) of the United Nations on Wednesday jointly launched the 'Investment Forum for Advancing Climate Resilient Agrifood Systems in India', an official statement said.
The initiative aims to develop an investment and partnership to advance climate-resilient agrifood systems among the government, private sectors, and farmers' organisations, and financial institutions in India, it said.
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Delivering the keynote address at the inauguration, NITI Aayog Member Ramesh Chand emphasised on the need for awareness on how agriculture contributes to climate change, citing a contribution of a little more than 13 per cent of the total greenhouse gas emissions in the country.
He observed that agriculture could play a role in carbon sequestration through tree plantation on farmland.
Chand also called for a new direction in economic analysis of agriculture production, considering the impact on natural resources, climate change, and future generations.
He proposed incorporating metrics beyond financial prices to evaluate the economic impact of agricultural activities.
MoA&FW Secretary Manoj Ahuja highlighted the significance of a multi-stakeholder approach in addressing climate challenges in India.
He stressed on the importance of considering the perspective of small and marginal farmers, who constitute 85 per cent of the farming population in India.
Shombi Sharp, UN Resident Coordinator in India, said without an answer to financial crisis there can be no answer to the food crisis.
She observed that with 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".
According to the statement, the two-day meet paved the way for discussions and deliberations among key stakeholders, and their perspectives on national priorities, investment opportunities, partnership, technical support and cooperation.
The meet witnessed almost 200 attendees with senior representatives from the government, National Bank for Agriculture and Rural Development (NABARD), 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 UN.
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