Over 72,000 farmers in West Bengal have benefited from ITC Ltd's training and awareness programmes. In addition, the company's subsidiary, Technico, which is one of the largest suppliers of quality seed potatoes in the state, provides early generation seed to over 1,40,000 farmers in 14 districts.
According to ITC Chairman Sanjiv Puri, the company has implemented a comprehensive farmer connect programme in West Bengal. Agriculture is the lifeblood of the economy, and it is especially important to the state because of the vast number of jobs it provides and its future potential.
"I understand that agriculture employs nearly 60% of the state's population and accounts for more than a fifth of the state's Gross State Domestic Product." Today, with tremendous advancements in the Agri sector, and opportunities arising from the digital revolution, changing consumer preferences, and export opportunities, this sector is poised to scale even higher orbits of growth, thereby not only enhancing farmer incomes but also becoming a major driver of the State's economic growth," said Puri at the Agriculture sectoral session at the Bengal Global Business Summits.
Prospects in Food Processing:
There is also room for expansion in the processed food sector, given that less than 10% of agricultural produce in the country is processed. Processed food accounts for less than 15% of India's agricultural exports.
Given the significant potential in the agro and allied sectors, West Bengal is well-positioned to capitalize on emerging opportunities, as it has best-in-class competitive advantages in agriculture and food processing. The state is a frontline producer of several Agri commodities, including paddy, horticulture, tea, jute, fish, and dairy, thanks to its six agro-climatic zones and abundant rainfall.
The state also provides numerous opportunities for agri-value addition through infrastructure investments such as five food parks, seven food processing clusters, and an eco-system of food processing.
Given West Bengal's strong agricultural resources, ITC, which is present in all three sectors of the state's economy – agriculture, manufacturing, and services – has made significant investments in the state's food processing sector over the years. The company operates two integrated food manufacturing facilities as well as seven other food factories that support local entrepreneurs. It would be critical to shift the state's agro-ecosystem away from traditional production-centric supply chains and toward demand-responsive value, chains focused on exports.
It is expected that India's agricultural exports will more than double to $100 billion in the medium term, attracting $10 billion in investment and creating 7-10 million new jobs. Bengal, as an agrarian state, can make a significant contribution to this growth story. This has the potential to significantly boost the State's agrarian economy and connect farmers to global markets while increasing their incomes.
