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Corporates to push more millets as budget expects India becoming global hub for Millets.
Feb 02, 2023
Corporates like ITC, Tata Consumer will push more millets as the budget envisages India becoming a global hub for Sri Ann or Millets. India is already the largest producer and second largest exporter of millets and the continued focus on domestic production, consumption and export potential will help us to earn foreign exchange. The prices of millets will remain steady following the government's move, industry experts said.
ITC has already introduced a number of millet-based products under the Aashirvaad Nature Superfoods brand including ragi flour, gluten free atta, multi-millet mix. Aashirvaad Soul Creations, as part of ITC’s Food Tech Initiative offers millet-based khichdi that can be ordered at home.
With India observing 2023 as the 'Year of Millets', the nation is at the forefront to promote millets through the International Year of Millets initiative.
The Economic Survey 2023 highlighted that India produces over 50.9 million tonnes (as per fourth advance estimate) of millet, which accounts for 80 per cent of Asia’s and 20 per cent of global production. On average, India's average yield of millet is is 1239 kg/ha, compared to the global average yield of 1229 kg/ha.
'The governments strong focus on millets, termed as Sri Anna, will further help drive harvest of and manufacturing of millet based healthy food products, with financial assistance for scaling up Mmillets in the emerging markets. This will also help startups in Incentivizing, training capacity building to farmers to grow millets in a proper format and will financially aid a fair price for the farmers who are growing millets so that they get a good encouragement to continue growing those crops. Additionally, the strong focus on empowering tribal farmers, and tools for green natural farming processes will further help empower and replenish the soil, thereby further enhancing agriculture across the country,'said Sharmila Oswal, Founder and MD of Gudmom.
economictimes.indiatimes.com
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