At a time when several parts of the country are reeling under an acute water shortage and dams are running dry at the culmination of what promises to be a hotter than average summer, there seems to be a ray of hope, with various agencies predicting a good monsoon this year. As you are aware, India bore the brunt of the 2015-16 El Nino weather phenomenon resulting in deficit rainfall with as many as 10 states declaring drought. Hence, the favorable monsoon predictions is definitely good news for our country, our economy and most importantly good for farmers who have been devastated by two consecutive droughts. A good monsoon will help restore agricultural productivity, enhance rural demand and boost India’s macroeconomic prospects.
A bountiful monsoon can enhance the disposable income of majority of Indians, which in turn will boost consumption of packaged food and branded consumables. An above average rainfall after back to back draughts will cement optimism and attract even more investments in India’s food sector.
At 7.5% GDP growth rate, Indian economy has amply demonstrated that it’s fundamental remain strong as ever. A culture of sustainable consumption backed with highly diversified economic activities helped Indian Inc. stay afloat amidst International economic slump. Monsoon prediction of 106% over the long period average will help actualize the newly launched government policies like crop insurance, unified agriculture market, organic farming and other long term initiatives.
Food security for all citizens has been high on the government’s agenda. India has been self-sufficient in the production of cereals since the green revolution. However much remains to be achieved when it comes ensuring nutritional security for all Indians . Rise in disposable incomes in the aftermath of good monsoon can help farmers diversify from subsistence based cultivation of cereals to pulses and oilseeds which can not only help them increase their incomes but also give them access to nutritious food in times of scarcity. Ruchi Soya is India’s largest producer of cooking oil and soyfoods. Our company’s has been credited for revolutionizing commercial cultivation of soybean in India. Our efforts have aided the transformation of Madhya Pradesh into the ‘Soya bowl’ of India. We must endeavour to make the most of this favourable monsoon by expanding acreage of soybean and other oilseeds and refrain from cultivation of resource intensive crops that are not naturally suited to a region. Ruchi Soya’s stress on quality and reasonable pricing will help more-and-more Indian consumers avail nutritious food for themselves and their families in the year ahead.
Above average monsoon will give Indians a chance to bring back sustainability in farm consumptions. We must take urgent measures to control runoff of rainwater and instead use it for recharging aquifers and ground-water tables that have dipped to alarming levels in many parts of India. These reserves will be our best bet in dealing with water scarcity in coming years.
Ruchi Soya, India’s largest food and agro-processing company, has actively promoted the cause of food and nutritional security for all Indians through sustainable means. A good monsoon will further boost our efforts to bring prosperity to farmer sector and marginalized Indian farmers at large. #monsoon #Agriculture #Sustainability #RuchiSoya