Investment Forum for Advancing Climate Resilient Agrifood Systems in India launched

Source-This post is based on the article “Investment Forum for Advancing Climate Resilient Agrifood Systems in India Launched” published in “PIB” on 24th January 2024.

Why in the News?

Recently, the ‘Investment Forum for Advancing Climate-Resilient Agrifood Systems in India’ was launched in New Delhi.

What is Investment Forum for Advancing Climate Resilient Agrifood Systems in India?

1) Aim– This initiative aims to create a strategy for advancing climate-resilient Agrifood systems through investment and partnerships among the Indian government, private sectors, farmers’ organizations, and financial institutions.

2) It is a joint initiative of NITI Aayog, Ministry of Agriculture & Farmers’ Welfare and Food and Agriculture Organisation (FAO).

3) The Forum will enable discussions and considerations across six crucial domains:

(i) Climate-resilient agriculture (experiences and pathways)
(ii) Digital infrastructure and solutions
(iii) Financing climate-resilient agri-food systems (domestic and global)
(iv) Climate-resilient value chains
(v) Production practices and inputs for climate resilience
(vi) Gender main streaming and social inclusion for climate resilience.

What is the Significance of this initiative?

1) Climate change significantly impacts India, particularly its economically vulnerable rural population dependent on climate-sensitive agriculture. Indian agriculture faces risks from extreme temperatures, droughts, floods, cyclones, and soil salinity.

2) Integrating climate considerations into agri-food systems necessitates substantial investments from global climate finance, domestic budgets, and the private sector.

3) The forum will help in identification of national priorities and policy platforms for financing climate-resilient agri-food systems.

4) It will enable key stakeholders to share insights on opportunities through regional collaboration for climate-smart food system initiatives. It will also suggest probable arrangements to maximize resource consolidation, route catalytic findings and support large-scale climate advocacy campaigns.

UPSC Syllabus- Indian Economy (Agriculture)