2023 Budget Statement by Dr. K.C. Ravi, Head of Business Sustainability

PR - 2023

Dr KC Ravi, Chief Sustainability Officer, Syngenta India Pvt Ltd

The Union Budget is aimed at making Indian Agriculture future ready. Many of the measures announced, while on the one hand are inclusive in encouraging rural youth and rural farm workers, on the other looks at digitization and critical infrastructure needs like warehousing for making our farmers not only productive but also profitable. The Budget will cause excellent ripple effects and is definite to catapult the agriculture ecosystem to greater heights by giving more credit support to farmers and also infusing a fine blend of policy and financial outlays to strengthen the entire rural eco-system.

As part of strengthening the rural eco-system, I am especially happy that Smt Nirmala Sitharaman has announced the government’s plan to build a digital public infrastructure for the agriculture sector. This will work as an open-source digital public good that will support growth of the agritech industry and startups. The move will definitely enable an inclusive farmer-centric eco-system with relevant information services for crop planning and help improve access to farm input, credit, and insurance, help for crop estimation, market intelligence and support for the growth of agritech industry and startups. There is immense opportunity for Public-Private partnerships in these areas as the private sector is also introducing cutting edge technologies in the areas of digitization and artificial intelligence.

The proposed Agriculture Accelerator Fund to encourage agri-startups by young entrepreneurs in rural areas is a step forward. As one of the first companies to have begun using drones in agriculture and training agri entrepreneurs, this gives us great hope and is an affirmation of our belief of the way forward for Indian agriculture. The Fund will aim at bringing innovative and affordable solutions for challenges faced by farmers. It will also bring in modern technologies to transform agricultural practices, increase productivity and profitability in a sustainable way. This is very timely, and most welcome.

The FM announced an increase in agriculture credit target to Rs 20 lakh cr for FY’24 with a focus on animal husbandry, dairy and fisheries. Boosting animal husbandry, dairy and fisheries will cause a spiraling effect on the prosperity of rural communities.

We also welcome FM’s announcement of Rs 35,000 crore for priority capital investment towards energy transition and net zero objectives and energy security by the Ministry of Petroleum and Natural Gas.

About Syngenta

Syngenta is one of the world’s leading agriculture companies, comprising Syngenta Crop Protection and Syngenta Seeds. Our ambition is to help safely feed the world while taking care of the planet. We aim to improve the sustainability, quality and safety of agriculture with world class science and innovative crop solutions. Our technologies enable millions of farmers around the world to make better use of limited agricultural resources. Syngenta Crop Protection and Syngenta Seeds are part of Syngenta Group. In more than 100 countries we are working to transform how crops are grown. Through partnerships, collaboration and The Good Growth Plan we are committed to accelerating innovation for farmers and nature, striving for regenerative agriculture, helping people stay safe and healthy and partnering for impact.


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Tehseen Zaidi

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