With Finance Minister Nirmala Sitharaman set to present the central budget on Sunday, expert voices are amplifying calls for strategic investments. Agriculture remains the lifeblood of India’s economy, accounting for 17% of GDP and livelihoods for 48% of the population. Economists like Manoranjan Sharma advocate focusing on farming, warehousing, and food processing to unlock untapped potential.
The recent Economic Survey reinforces optimism, forecasting 7% growth that cements India’s status as a global economic powerhouse. Sharma noted this resilience amid global headwinds. Adding momentum, the landmark India-EU FTA arrives at a critical juncture, countering US tariff barriers that hit 17% of exports.
PM Narendra Modi lauded the pact as game-changing, set to broaden market access and generate employment. Commerce Minister Piyush Goyal echoed this in a detailed piece, emphasizing its alignment with Vision India@2047. Unlike previous rushed agreements that cost India dearly, this FTA safeguards national interests while boosting trade.
Goyal credited Modi’s visionary leadership for an outcome that fortifies core sectors and accelerates growth. As stakeholders await budget allocations, prioritizing agri-supply chains could propel India towards self-reliance, enhance farmer incomes, and integrate rural economies into the global value chain.