Coordinated approach, exchange of views needed among BRIC countries: Pawar

Moscow, Mar 26(ANI): Union Agriculture Minister Sharad Pawar on Friday said that the potential importance of Brazil, Russia, India and China (BRIC) countries lies in mutual cooperation on issues of global economy and economic governance, which requires a coordinated approach and continuous exchange of views.

Addressing at the BRIC Agriculture Ministers' meeting in Moscow, Pawar said: "Our partnership in this forum must be anchored in the fundamental principles of equality, mutual trust and common good."

"We must strive to work out common approaches and strategies on pressing global issues such as food security, impact of climate change on agriculture, energy security, pandemics and other related subjects," he added.

The Agriculture Minister further pointed out that the BRIC countries are richly endowed collectively and individually in terms of natural resources and other factors of production, and are in a position to sustain higher growth rates.

"Brazil and Russia have abundant supplies of raw materials and energy resources. China and India are key players in manufacturing and services and are large consuming markets. Given the complementarities of our economies, there is a tremendous potential to enhance trade among our countries," Pawar said.

"With our rising middle class, BRIC countries are providing the much needed demand stimulus to the World economy in the present scenario of fragile economic recovery after the global economic and financial crisis," he added.

Referring to the strength of Indian agriculture, Pawar said that the green revolution in foodgrains and white revolution in milk, a vast network of agricultural research and educational institutions, revitalized extension system with the help of information and communication technologies are notable among them.

"The other remarkable achievements include, empowerment of the farmers through easy availability of loans from rural banks and cooperatives and a well functioning of public procurement and distribution system, which is the largest in the world," Pawar said.

"Indian agriculture today is changing rapidly to meet contemporary requirements. Today, we are self sufficient in most of the crops and are the second largest producers of fruits and vegetables and are giving special attention to post harvest management and food processing."

"We are also in the process of ushering in the second green revolution through knowledge-based and market friendly interventions which will make Indian agriculture more productive, competitive, efficient and aligned with world agriculture," he added. (ANI)