Dairying is possibly as old as the civilization of mankind, yet global experts said at the IDF World Dairy Summit 2022 that its business is bigger than tech giants Apple and Microsoft put together.
According to Dr. Torsten Hemme, CEO of IFCN AG Germany, the consumer value of the dairy industry is 800 billion dollars, making it "bigger than the combined revenue" of Apple and Microsoft. He was talking at the current summit, which Prime Minister Narendra Modi opened with a session titled "Evolution of Dairying: A Livelihood Perspective."
From the years 2014 to 19, the milk farmers contributed more than 70% of the total earnings, he stated in his presentation.
According to Meenesh Shah, the chairman of the National Dairy Development Board, dairying is equally important in both developed and developing countries because it provides a living for more than a billion people worldwide.
Shah had previously predicted that the dairy industry in India would increase from its current value of Rs. 13 trillion to Rs. 30 trillion by the year 2027.
Another eminent expert who spoke in this session was Dr. S. Rajkumar, Professor at RIVER, Puducherry who equaled dairy evolution to the livelihood evolution in India and elsewhere and called upon the dairy industry that “participation of women in improving productivity from cows and buffalos is the need of the hour.”
