India outsources agriculture
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29/06/2009
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Down To Earth
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.
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.