The Southern India Chamber of Commerce and Industry (SICCI) has lauded the initiatives outlined in the interim budget presented on February 1, 2024, particularly those targeting advancements in agriculture through new-age technology products. Finance Minister Nirmala Sitharaman's announcement regarding the expansion of Nano Di-ammonium Phosphate (DAP) applications in agriculture has garnered positive attention. SICCI anticipates that these measures will not only reduce fertiliser subsidy expenses but also play a pivotal role in elevating the overall agricultural economy.
SICCI President Arun Alagappan on Nano DAP
Arun Alagappan, President, SICCI and Executive Vice Chairman, Coromandel International Limited, expressed his support for the budget proposals. Highlighting the significance of Nano-DAP in agriculture, Alagappan emphasized its potential to revolutionize farming practices across various crops and agro-climatic zones.
The budget's focus on promoting public and private investments in post-harvest activities drew Alagappan’s acknowledgment. These activities encompass aggregation, modern storage, supply chains, primary and secondary processing, marketing, and branding. Alagappan stressed that integrating new-age technology products like Nano-DAP is imperative for cost-effective fertiliser solutions and bolstering the agricultural sector, considering DAP's widespread use in India.
SICCI also praised the budget's emphasis on rooftop solar initiatives, viewing it as a significant stride towards India's renewable energy transition. The ambitious goal of providing 10 million households with up to 300 units of electricity monthly through rooftop solarisation garnered particular acclaim. The industry body acknowledged the potential impact of such initiatives on sustainable energy practices.
Furthermore, SICCI expressed support for proposals promoting climate-resilient activities in the blue economy 2.0. This holistic initiative encompasses restoration and adaptation measures, coastal aquaculture, and mariculture within an integrated approach. The industry body recognized the prudent prioritization of the infrastructure programme under the PM Gati Shakti initiative, emphasizing its role in propelling overall economic growth.
