Close X
Thursday, November 26th, 2020

A coordinated approach and continuous exchange of views on global economy and economic governance needed among BRIC countries: Sharad Pawar

INVC,, Moscow., The potential importance of Brazil, Russia, India and China (BRIC) countries lies in mutual cooperation on issues of global economy and economic governance, which requires a coordinated approach and continuous exchange of views. This was stated by Shri Sharad Pawar, in his address at the BRIC Agriculture Ministers’ meeting at Moscow. Shri Pawar said, ‘our partnership in this forum must be anchored in the fundamental principles of equality, mutual trust and common good. We must strive to work out common approaches and strategies on pressing global issues such as food security, impact of climate change on agriculture, energy security, pandemics and other related subjects’. The Indian Agriculture Minister pointed out that BRIC countries are richly endowed collectively and individually in terms of natural resources and other factors of production, and are in a position to sustain higher growth rates. He said, ‘Brazil and Russia have abundant supplies of raw materials and energy resources. China and India are key players in manufacturing and services and are large consuming markets. Given the complementarities of our economies, there is a tremendous potential to enhance trade among our countries. With our rising middle class, BRIC countries are providing the much needed demand stimulus to the World economy in the present scenario of fragile economic recovery after the global economic and financial crisis’. Shri Pawar further stated that BRIC countries together command 26 percent of the total geographic area of the globe with 2nd, 3rd, 4th and 5th largest cultivated land. He said, ‘BRIC cooperation in the field of agriculture holds considerable potential as it directly impacts nearly 40% of the global population living within it and indirectly much more. However, as a word of caution I must add that though the world today is able to meet its requirement for foodgrains, there is no room for complacency. Increasing productivity in a sustainable manner is therefore a compulsion. We must come together to increase investment in rural infrastructure, agriculture research and development and transfer of latest technology to the farmers for effectively enhancing production and productivity of agricultural crops to meet the ever increasing demand for foodgrains. Shri Pawar suggested for the need for a group of technical experts on international agricultural research with a special responsibility not only to come up with effective knowledge based solution but to ensure the quickest possible dissemination amongst farmers through innovative delivery mechanism’. Referring to the strength of Indian agriculture, Shri Pawar said that the green revolution in foodgrains and white revolution in milk, a vast network of agricultural research and educational institutions, revitalised extension system with the help of information and communication technologies are notable among them. The other remarkable achievements include, empowerment of the farmers through easy availability of loans from rural banks and cooperatives and a well functioning of public procurement and distribution system which is the largest in the world. With less than 5% of world’s water and 3% of world’s arable land India has been able to feed 17% of the world’s population, Shri Pawar added. Shri Pawar said, ‘Indian agriculture today is changing rapidly to meet contemporary requirements. Today, we are self sufficient in most of the crops and are the second largest producers of fruits and vegetables and are giving special attention to post harvest management and food processing. We are also in the process of ushering in the second green revolution through knowledge-based and market friendly interventions which will make Indian agriculture more productive, competitive, efficient and aligned with world agriculture’. Stating that the time has come to translate into reality the vast possibilities and effectively make a difference to the lives of the less-privileged people not only in BRIC nations but in the whole world Shri Pawar urged the Agriculture Ministers of Brazil, Russia and China to use this opportunity to strengthen the institutions and mechanism which will work in harmony for the development of agriculture and agriculturists. He expressed hope that that this first meeting of BRIC Agriculture Ministers will go a long way in paving the path for our collaborative efforts in this field.

Comments

CAPTCHA code

Users Comment

Jane Portman, says on June 14, 2010, 2:52 PM

Great site!Thanks for sharing this.I am glad to know this information.

Would would happen to the US economy if the dollar stopped being the world’s reserve currency overnight? | Insider Forex Secrets Guide, says on March 27, 2010, 8:19 PM

[...] A coordinated &#1072&#1088&#1088r&#959&#1072&#1089&#1211 &#1072&#1495&#1281 continuous exchange &#95... [...]

In These Times – 1 Year | The Simple Approach, says on March 27, 2010, 5:04 PM

[...] A coordinated approach and continuous exchange of views on global … [...]