NEW DELHI: Prime Minister Narendra Modi on Thursday stated that India is progressing along a new path of innovation and reform, with widespread discussions underway regarding the next generation of GST reforms. He emphasised that these reforms promise lower costs and higher returns for farmers.
Speaking at a gathering during the World Food India 2025 event here, Prime Minister Modi highlighted the involvement of farmers, entrepreneurs, investors, innovators, and consumers. He noted that butter and ghee now attract only 5 per cent GST, offering substantial relief, while milk cans are also taxed at just 5 per cent, ensuring better prices for both farmers and producers.
“India possesses a triple strength of diversity, demand, and scale,” Modi said, stating that the country produces every type of grain, fruit, and vegetable, making it uniquely positioned on the global stage.
He observed that every hundred kilometres, the cuisine and its flavours change, reflecting India’s rich culinary variety. He stressed that this strong domestic demand provides India with a competitive edge and makes it a preferred destination for investors.
“India is operating at an unprecedented and extraordinary scale. In the past ten years, 25 crore people have overcome poverty and are now part of the neo middle class—India’s most energetic and aspirational segment,” remarked the Prime Minister, adding that the aspirations of this class are influencing food trends and driving demand.
He highlighted that India’s talented youth are innovating across various sectors, and the food sector is no exception. “India is now the world’s third-largest start-up ecosystem, with many start-ups working in food and agriculture,” said Modi, adding that technologies such as AI, e-commerce, drones, and apps are being integrated into the sector, transforming supply chains, retail, and processing methods.
He affirmed that India offers diversity, demand, and innovation, all crucial elements that make it the most attractive destination for investment. Reiterating his message from the Red Fort, the Prime Minister declared that this is the right time to invest and expand in India.
Acknowledging the challenges of the twenty-first century, Modi stated that India has consistently stepped forward to play a positive role in addressing global issues.
He underlined that India continues to contribute actively to global food security, and that the strength of the country’s agriculture sector has grown due to the hard work of farmers, livestock rearers, and fishermen, supported by favourable government policies.
He noted that food grain production has witnessed significant growth over the past decade. The Prime Minister stated in his address that India is the largest producer of milk, contributing 25 per cent of the global milk supply, and is also the leading producer of millets.
He added that India ranks second globally in rice and wheat production and makes a significant contribution in fruits, vegetables, and fisheries. He asserted that whenever there is a global crop crisis or a disruption in supply chains, India stands firm and fulfils its responsibility.