Food Imports Rise As Modi Struggles To Revive Rural India
Prime Minister Narendra Modi held a meeting with food and farm officials last week to address falling agricultural output and rising prices, and traders warn the country will soon be a net buyer of some key commodities for the first time in years. Back-to-back droughts, the lack of long-term investment in agriculture and increasing demands from a growing population are undermining the country’s bid to be self-sufficient in food. That is creating opportunities for foreign suppliers in generally weak commodity markets, but is a headache for Modi, who needs the farm sector to pick up in order to spur economic growth and keep his political ambitions on track. Modi sat through presentations and asked the ministers to ensure steady supplies and stable prices, urging them to find solutions, the source said. Modi did not suggest any immediate interventions of his own.