Prof Vijay Paul Sharma, Chairman, Commission for Agriculture Costs and Price (CACP), Ministry of Agriculture & Farmer Welfare, GoI, International conclave of Agriculture sustainability organized by SRM University AP (Business News this Week)

Business News This Week covered a virtual conference that included Senior research fellow Anjani Kumar. The meeting stated that the agriculture and food sector are facing multiple challenges. With the global population projected to grow from 7.6 billion in 2018 to over 9.6 billion in 2050, there will be a significant increase in the demand for food. At the same time, the availability of natural resources such as fresh water and productive arable land is becoming increasingly constrained. While talking on the role of technologies for sustainable agriculture, Senior research fellow, Anjani Kumar, South Asian Office, Delhi, mentioned how research is essential. He indicated that marginal returns to agricultural R&D expenditure are low for high-income states while more for low-income states. His research shows that R&D significantly impacts reducing poverty and inequality. He also mentioned that the seed replacement rate is frequently high in developed states while very low in underdeveloped states.