India Becoming More Open to Trade
Times are changing and India is importing more items from the world.
Published: Feb 23, 2012
Amit Sachdev, U.S. Grains Council Consultant in India, spoke at USGC's 52nd Annual Meeting and 9th International Marketing Conference in Panama last week. Sachdev says India's economic growth is still high, despite the recent global recession.
"There are pressures on land and water due to population increase and the government is eager to look at trade and understands the new technologies will help reach the goal of feeding over a billion people," Sachdev said. "But still some unknown cultural forces want to not open borders and restricts trade."
However, Sachdev says times are changing and India is importing more items from the world. The consumers of these products are the 250 million working-aged people in the country right now. Sachdev says another 130 million will be added in the next 10 years.
Regarding Indian corn production and demand, Sachdev says India continues to grow and use more of the commodity.
"In 2012 corn production is estimated at 21.2 million metric tons and would use more than 19 million metric tons," Sachdev said. "Corn is also a major food grain in many areas. The snack food market is expanding and nearly 45% of the land is planted in hybrid corn and the limit is about 55%."
Sachdev says corruption has been a challenge for the country, but a better network of people helped the government come out with new laws against that corruption, which puts it in a prime opportunity for growth.
"With the emerging markets project the Grains Council would also like to make an effort to make the people aware of changes that are sweeping the world," Sachdev said. "The council will have more opportunities to work with like-minded people, create that network, and connect the dots; to make that change for a better tomorrow, empowering the farmers and growers, not only for the country but the world as a whole."
When trade works Sachdev says the world wins.
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