India outsources agriculture
Invests US $4 billion to lease land in Ethiopia
INDIA is leasing land in Ethiopia to grow food to meet its domestic demand and boost exports. The government invested US $4 billion (Rs 19,000 crore) on agriculture, horticulture and sugar estates in the African country where land is cheap.
This is a fallout of the economic crisis and jump in food prices, said US-based research agency, the International Food Policy Research Institute (ifpri), in its policy brief. Indian analysts have criticized the move.