Investment Forum for Advancing Climate Resilient Agrifood Systems in India launched

• Posted on January 30, 2024
• Daily Current Affairs,GS-2,GS-3

Investment Forum for Advancing Climate Resilient Agrifood Systems in India launched

Context:

In a recent collaboration, NITI Aayog, the Ministry of Agriculture and Farmers’ Welfare (MoA&FW) of the Government of India, and the Food and Agriculture Organization (FAO) of the United Nations jointly introduced the ‘Investment Forum for Advancing Climate Resilient Agrifood Systems in India’ in New Delhi.

Relevance:

GS-02, GS-03 (Government policies and interventions, food security)

Climate Resilient Agrifood Systems in India:

• The Climate Resilient Agrifood Systems Investment Forum in India serves as a strategic initiative aimed at fostering partnerships and investments among the Indian government, private sectors, farmers’ organizations, and financial institutions to advance climate-resilient agrifood systems.
• In collaboration with NITI Aayog, the Ministry of Agriculture & Farmers’ Welfare, and the Food and Agriculture Organization (FAO), this joint effort will encompass discussions across six vital domains:
  1. Climate-resilient agriculture (experiences and pathways),
  2. Digital infrastructure and solutions,
  3. Financing climate-resilient agri-food systems (domestic and global),
  4. Climate-resilient value chains,
  5. Production practices and inputs for climate resilience,
  6. Gender mainstreaming and social inclusion for climate resilience.

Significance of this initiative:

• The significance of this initiative lies in addressing the profound impact of climate change on India, particularly its economically vulnerable rural population dependent on climate-sensitive agriculture.
• The country faces risks from extreme temperatures, droughts, floods, cyclones, and soil salinity. Integrating climate considerations into agri-food systems requires substantial investments from global climate finance, domestic budgets, and the private sector.
• The forum is instrumental in identifying national priorities and policy platforms for financing climate-resilient agri-food systems. Additionally, it provides a platform for key stakeholders to share insights on regional collaboration opportunities for climate-smart food system initiatives, suggesting possible arrangements to maximize resource consolidation, route catalytic findings, and support large-scale climate advocacy campaigns.