AGRICULTURE November 2010
AGRICULTURE November 2010 Contents Advantage India Market overview Industry Infrastructure Investments Policy and regulatory framework Opportunities Industry associations 2
ADVANTAGE INDIA Advantage India India s agricultural policy focuses on food selfsufficiency, remunerative prices for farmers, and maintenance of stable prices for consumers. These goals are met by a number of measures such as minimum support prices, food subsidies for consumers, regulated markets, input subsidies for producers, and international trade policy. Since independence, the government has focused on the sector through five-year plans, and the public sector outlay in the sector as per the Eleventh Five Year Plan is US$ 29.6 billion (INR 1,363.8 billion). Advantage India India has diverse geographic features such as climate, soil, availability of water, and biodiversity due to its vast area. In 2008, arable land in India was 159 million hectares, second only to the US. In 2008, India was the second-largest producer of wheat and rice in the world, and the largest producer of pulses in the world. In 2008, India was ranked second in terms of people involved in agriculture and allied activities, with approximately 583 million people involved in agriculture. Although, the share of agriculture and allied activities in GDP is estimated at 14.6 per cent, the sector is the source of livelihood for more than 50 per cent of the Indian population. Sources: Agricultural Statistics At a Glance 2010," Economics And Statistics, Ministry of Agriculture, Government of India website, http://dacnet.nic.in/eands/latest_2006.htm, accessed 3 December 2010; Agriculture and Food Management, Economic Survey 2009-10, Government of India: Union Budget and Economic Survey website, http://indiabudget.nic.in/es2009-10/esmain.htm, accessed 08 March 2010; India s Macroeconomic Indicators, Third Advance Estimates of Crop Production Released, PIB press release website, http://pib.nic.in/release/release.asp?relid=61781, accessed 14 July 2010. 3
AGRICULTURE November 2010 Contents Advantage India Market overview Industry Infrastructure Investments Policy and regulatory framework Opportunities Industry associations 4
MARKET OVERVIEW Market overview (1/12) Green Revolution: The introduction of inputs, such as fertilisers, high-yielding varieties (HYV) of crops, pesticides, surface irrigation, and mechanised farming increased agricultural productivity. In a span of two decades, the food grain production had more than doubled to reach 108.4 MT in 1970 71. The yield stood at 872 kg/ha in 1970 71. Timeline of Indian agriculture National Agricultural Policy (NAP): The NAP aims to achieve an annual growth rate of 4 per cent in the agricultural sector over the next two decades. India requires a robust agriculture sector to achieve GDP growth of 8 10 per cent. 1950s 1960s and 70s 1980s and 90s 2000s Post-independence: This era was characterised by low agricultural productivity and starvation across the country. In 1950 51, food grain production was 50.8 MT, and the yield of food grains was 522 kg/ha. Economic reforms: The country's import and export policies are aimed at enhancing export capabilities of the sector by focusing on productivity, promoting modernisation, and competitiveness. Since 1990 91, India s exports have increased approximately 12.9 times to reach US$ 18.7 billion in 2008 09. 5
Food grain production (MT) MARKET OVERVIEW Market overview (2/12) Growth of food grain production in India 250 200 150 100 50 0 52.5% 234.5 218.2 56.7% 46.0% 196.8 39.9% 176.4 129.6 108.4 82.0 34.0% 50.8 26.2% 15.7% 14.6% 1950-51 1960-61 1970-71 1980-81 1990-91 2000-01 2008-09 2009-10E 60% 50% 40% 30% 20% 10% 0% Share of agriculture and allied services in GDP Food grain production (Million Tonnes) Percentage share of agriculture and allied services in GDP The share of agriculture and allied services in GDP has been estimated at 14.6 per cent in 2009 2010, as the dependence of the economy has shifted to the service sector and industry. Sources: Handbook of Statistics on the Indian Economy 2008-09, Reserve Bank of India website, www.rbi.org.in/home.aspx, accessed 18 January 2010; Second Advance Estimates of Production of Foodgrains for 2009-10, http://dacnet.nic.in/eands/advance_estimate/2ndadvance_estimates_2009-10(english).pdf, accessed 08 March 2010; Dr R. Albert Christopher Dhas, Agricultural Crisis in India: The Root Cause and Consequences, The American College, Madurai; Third Advance Estimates of Crop Production Released, PIB Press Release, http://pib.nic.in/release/release.asp?relid=61781, accessed 14 July 2010; India s Macroeconomic Indicators, EXIM Bank website, www.eximbankindia.com/ind-eco.pdf, accessed 14 July 2010. E Third advance estimates 6
MARKET OVERVIEW Market overview (3/12) Over the 50-year period, i.e., from 1950 51 to 2000 01, food grain production in India has increased at a compound annual growth rate (CAGR) of approximately 2.7 per cent, to reach 196.8 million tonnes (MT) in 2000 01. The increase in food grain production is largely attributed to the Green Revolution, which took place in the 1960s and 1970s. Agri-inputs, such as fertilisers, high-yielding varieties (HYV) of crops, pesticides, surface irrigation, and mechanised farming were primarily responsible for the increase in agricultural productivity. Sources: Handbook of Statistics on the Indian Economy 2008-09, Reserve Bank of India website, www.rbi.org.in/home.aspx, accessed 18 January 2010; Second Advance Estimates of Production of Foodgrains for 2009-10, http://dacnet.nic.in/eands/advance_estimate/2ndadvance_estimates_2009-10(english).pdf, accessed 08 March 2010; Dr R. Albert Christopher Dhas, Agricultural Crisis in India: The Root Cause and Consequences, The American College, Madurai; Third Advance Estimates of Crop Production Released, PIB Press Release, http://pib.nic.in/release/release.asp?relid=61781, accessed 14 July 2010; India s Macroeconomic Indicators, EXIM Bank website, www.eximbankindia.com/ind-eco.pdf, accessed 14 July 2010. E Third advance estimates 7
MARKET OVERVIEW Market overview (4/12) Kharif and Rabi seasons India has two crop seasons, Kharif and Rabi, based on the dependence of crop productivity on the monsoons. The Kharif season is during the summer and monsoon months, lasting from April to September, and rice is the main crop grown during the season. The Rabi season is during the winter months of October to March, and wheat is the main crop of this sesason. India Kharif and Rabi (production in million tonnes) 100%= 196.8 212.9 174.8 213.2 198.4 208.6 217.3 230.8 234.5 218.2 48.1% 47.3% 50.1% 45.1% 47.9% 47.3% 49.1% 47.6% 49.6% 54.0% 51.9% 52.7% 49.9% 54.9% 52.1% 52.7% 50.9% 52.4% 50.4% 46.0% 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10* Kharif Rabi Sources: Agricultural Statistics At a Glance 2010," Economics And Statistics, Ministry of Agriculture, Government of India website, http://dacnet.nic.in/eands/latest_2006.htm, accessed 17 November 2010; Second Advance Estimates of Production of Foodgrains for 2009-10, http://dacnet.nic.in/eands/advance_estimate/2ndadvance_estimates_2009-10(english).pdf, accessed 08 March 2010. *Fourth Advance Estimates as released on 19 July 2010 8
MARKET OVERVIEW Market overview (5/12) According to estimates by the Department of Agriculture and Cooperation, production of food grains in 2009 2010 is estimated to be 218.2 million tonnes, with the Rabi crops accounting for 117.83 million tonnes and Kharif crops accounting for 100.37 million tonnes. According to first advance estimates by the Department of Agriculture and Cooperation, production of food grains in 2010 11 is estimated to be 114.63 million tonnes. Sources: Agricultural Statistics At a Glance 2010," Economics And Statistics, Ministry of Agriculture, Government of India website, http://dacnet.nic.in/eands/latest_2006.htm, accessed 17 November 2010; Second Advance Estimates of Production of Foodgrains for 2009-10, http://dacnet.nic.in/eands/advance_estimate/2ndadvance_estimates_2009-10(english).pdf, accessed 08 March 2010. *Fourth Advance Estimates as released on 19 July 2010 9
MARKET OVERVIEW Market overview (6/12) Key crop varieties in India 300 250 241.1 277.8 Production (million tonnes) 200 150 100 50 0 154.3 89.1 74.3 80.7 53.6 55.1 36.3 9.4 18.6 24.9 23.9 7.0 9.8 7.0 9.0 16.7 0.4 2.6 10.1 Sugarcane Rice Wheat Nine-Oilseeds Cotton Maize Soyabean 1980-81 1990-91 2009-10* Over the 59-year period, i.e., from 1950 51 to 2009 2010*, the production of rice and wheat has increased at a CAGR of approximately 2.6 per cent and 4.5 per cent, respectively. The production of maize and cotton has increased at a CAGR of 4 per cent and 3.6 per cent, respectively over the same period. Sources: Agricultural Statistics At a Glance 2010," Economics And Statistics, Ministry of Agriculture, Government of India website, http://dacnet.nic.in/eands/latest_2006.htm, accessed 17 November 2010; Second Advance Estimates of Production of Foodgrains for 2009-10, http://dacnet.nic.in/eands/advance_estimate/2ndadvance_estimates_2009-10(english).pdf, accessed 08 March 2010; Handbook of Statistics on the Indian Economy 2008-09, Reserve Bank of India website, www.rbi.org.in, accessed 18 January 2010. *Fourth Advance Estimates as released on 19 July 2010; Note: For cotton production is in million bales of 170 kg each 10
MARKET OVERVIEW Market overview (7/12) Key crop varieties in India The yield of crops has witnessed an increase since the Green Revolution. Between 1950 51 and 2009 2010*, the yield of rice and wheat has increased by 3.3 and 4.4 times, to reach 2,130 kg/ha and 2,830 kg/ha, respectively. The yield of sugarcane has doubled since 1950 51 to reach around 66,922 kg/ha in 2010 11**. Sources: Agricultural Statistics At a Glance 2010," Economics And Statistics, Ministry of Agriculture, Government of India website, http://dacnet.nic.in/eands/latest_2006.htm, accessed 17 November 2010; Second Advance Estimates of Production of Foodgrains for 2009-10, http://dacnet.nic.in/eands/advance_estimate/2ndadvance_estimates_2009-10(english).pdf, accessed 08 March 2010; Handbook of Statistics on the Indian Economy 2008-09, Reserve Bank of India website, www.rbi.org.in, accessed 18 January 2010. *Fourth Advance Estimates as released on 19 July 2010; ** First Advance Estimates as released on 23.09.2010. Note: For cotton production is in million bales of 170 kg each 11
Wheat production Rice production MARKET OVERVIEW Market overview (8/12) Key crop varieties in India 100 80 Wheat production and yield 2,708 2,281 2,830 3,000 2,500 100 80 Rice production and yield 1,901 1,740 2,177 2,500 2,000 60 40 20 0 1,630 1,307 80.7 851 69.7 55.1 36.3 23.8 11.0 1960-61 1970-71 1980-81 1990-91 2000-01 2009-10* 2,000 1,500 1,000 500 0 Yield 60 40 20 0 1,336 1,013 1,123 74.3 85.0 80.41 34.6 42.2 53.6 1960-61 1970-71 1980-81 1990-91 2000-01 2010-11** 1,500 1,000 500 0 Yield Production (Million Tonnes) Yeild (Kg/hectare) Production (Million Tonnes) Yeild (Kg/hectare) The principal crops of the Indian agriculture sector include rice, wheat, jowar, bajra, maize, pulses, nine oilseeds, soya bean, sunflower, cotton, jute, mesta, and sugarcane. Sources: Agricultural Statistics At a Glance 2010," Economics And Statistics, Ministry of Agriculture, Government of India website, http://dacnet.nic.in/eands/latest_2006.htm, accessed 17 November 2010; Agriculture and Food Management, Economic Survey 2009-10, Government of India: Union Budget and Economic Survey website, http://indiabudget.nic.in/es2009-10/esmain.htm, accessed 08 March 2010. *Fourth Advance estimates; **First Advance Estimates as released on 23 September 2010 12
MARKET OVERVIEW Market overview (9/12) Key crop varieties in India The increase in production has primarily been due to the introduction of HYV of crops. The yield of wheat has increased by approximately four times, while the yield of rice has grown more than three times. 50 40 30 20 Area under cultivation (million hectares) 42.7 44.7 40.2 37.6 34.1 22.3 24.2 25.7 18.2 12.9 41.9 28.5 10 0 1960-61 1970-71 1980-81 1990-91 2000-01 2009-10* Rice Wheat Sources: Agricultural Statistics At a Glance 2010," Economics And Statistics, Ministry of Agriculture, Government of India website, http://dacnet.nic.in/eands/latest_2006.htm, accessed 17 November 2010; Agriculture and Food Management, Economic Survey 2009-10, Government of India: Union Budget and Economic Survey website, http://indiabudget.nic.in/es2009-10/esmain.htm, accessed 08 March 2010. *Fourth Advance estimates 13
Sugarcane production Nine-Oilseeds MARKET OVERVIEW Market overview (10/12) Key crop varieties in India Sugarcane production and yield Nine oilseeds production and yield 400 300 200 100 0 65,395 68,577 66,922 57,844 45,549 48,322 296.0 324.9 241.1 154.3 110.0 126.4 1960-61 1970-71 1980-81 1990-91 2000-01 2010-11** 80,000 60,000 40,000 Yield 30 25 20 15 10 20,000 5 0 0 955 771 810 507 579 532 24.9 18.6 18.4 7.0 9.6 9.4 1960-61 1970-71 1980-81 1990-91 2000-01 2009-10* 1,200 1,000 800 600 400 200 0 Yield Production (Million Tonnes) Yeild (Kg/hectare) Production (Million Tonnes) Yeild (Kg/hectare) Sources: Agricultural Statistics At a Glance 2010," Economics And Statistics, Ministry of Agriculture, Government of India website, http://dacnet.nic.in/eands/latest_2006.htm, accessed 17 November 2010; Agriculture and Food Management, Economic Survey 2009-10, Government of India: Union Budget and Economic Survey website, http://indiabudget.nic.in/es2009-10/esmain.htm, accessed 08 March 2010. *Fourth Advance estimates; **First Advance Estimates as released on 23 September 2010 14
Maize production Cotton production MARKET OVERVIEW Market overview (11/12) Key crop varieties in India Maize production and yield Cotton production and yield 15 10 5 0 1,959 1,822 1,518 1,279 926 1,159 12.0 14.1 9.0 7.5 7.0 4.1 1960-61 1970-71 1980-81 1990-91 2000-01 2010-11** 2,500 2,000 1,500 1,000 500 0 Yield 40 30 20 10 0 518 225 190 33.5 152 125 106 5.6 4.8 7.0 9.8 9.5 1960-61 1970-71 1980-81 1990-91 2000-01 2010-11** 600 500 400 300 200 100 0 Yield Production (Million Tonnes) Yeild (Kg/hectare) Production (Million Tonnes) Yeild (Kg/hectare) Sources: Agricultural Statistics At a Glance 2010," Economics And Statistics, Ministry of Agriculture, Government of India website, http://dacnet.nic.in/eands/latest_2006.htm, accessed 17 November 2010; Agriculture and Food Management, Economic Survey 2009-10, Government of India: Union Budget and Economic Survey website, http://indiabudget.nic.in/es2009-10/esmain.htm, accessed 08 March 2010. *Fourth Advance estimates; **First Advance Estimates as released on 23 September 2010; Note: For cotton, production is in million bales of 170 kg each 15
MARKET OVERVIEW Market overview (12/12) Leading food grain-producing states in India Other Bihar Madhya Pradesh Karnataka Maharashtra Haryana West Bengal Rajasthan Andhra Pradesh Punjab Uttar Pradesh Share of states in food grain production 196.6 MT 230.5 MT 16.3% 19.3% 6.1% 4.7% 5.2% 5.2% 5.6% 5.3% 5.2% 6.6% 6.8% 6.6% 7.0% 7.0% 5.1% 7.0% 8.2% 8.4% 12.9% 21.7% 11.6% 18.3% 2000 01 2007 08 In India, 10 states account for approximately 80 per cent of the total food grain production. In 2008 09, West Bengal was the leading producer of rice in India, accounting for approximately 15.2 per cent of the total production, followed by Andhra Pradesh and Uttar Pradesh, accounting for 14.4 per cent and 13.2 per cent, respectively. Uttar Pradesh was the leading producer of wheat in India in 2008 09. It accounted for 35.4 per cent of the total wheat production, followed by Punjab and Haryana, accounting for 19.5 per cent and 13.4 per cent, respectively. In 2008 09, Andhra Pradesh was the leading producer of maize in India. The state accounted for 21 per cent of the total production followed by Karnataka and Rajasthan at 15.4 per cent and 9.3 per cent, respectively. Source: Handbook of Statistics on the Indian Economy 2008-09, Reserve Bank of India website, www.rbi.org.in/home.aspx, accessed 18 January 2010; Agricultural Statistics At a Glance 2010," Economics And Statistics, Ministry of Agriculture, Government of India website, http://dacnet.nic.in/eands/latest_2006.htm, accessed 3 December 2010. Note: Total production does not include Union Territories 16
MARKET OVERVIEW EXIM scenario (1/4) Between 2005 06 and 2009 2010P, the value of agricultural exports and imports has grown at a CAGR of 16.2 per cent and 28.7 per cent. 25 20 15 10 5 0 India s agri imports and exports (US$ billion) 18.7 19.5 17.2 13.6 12.9 10.7 8.0 6.4 6.5 4.7 2005-06 2006-07 2007-08 2008-09 2009-10P Agriculture Exports Agriculture Imports Source: Agricultural Statistics At a Glance 2010," Economics And Statistics, Ministry of Agriculture, Government of India website, http://dacnet.nic.in/eands/latest_2006.htm, accessed 17 November 2010. P Provisional 17
MARKET OVERVIEW EXIM scenario (2/4) India is a net exporter of agricultural products. However, it faces challenges related to tradedistorting subsidies, tariffs and trade barriers. 16 14 12 10 8 6 4 2 0 Agri imports and exports as a percentage of total national exports and imports 13.6 12.7 5.9 6.1 11.1 10.8 4.6 10.9 3.3 3.5 12.2 2002 03 2003 04 2004 05 2005 06 2006 07 2007 08 P 3.1 Percentage of agri exports to total national exports Percentage of agri imports to total national imports Source: Agricultural Statistics At a Glance 2010," Economics And Statistics, Ministry of Agriculture, Government of India website, http://dacnet.nic.in/eands/latest_2006.htm, accessed 17 November 2010. P Provisional 18
MARKET OVERVIEW EXIM scenario (3/4) In 2008 09, India s export of cereals amounted to US$ 3.29 million, with Saudi Arabia, the UAE and Malaysia being the leading export destinations. Rice (basmati and non-basmati) and other cereals were the leading cereals exported from the country. 100%= US$ 19.5 billion 47.8% Key agri products exported by India, 2009 2010* (US$ billion) 7.0% 8.8% 6.3% 12.1% 6.9% 11.0% Oil Meals Rice Basmati Marine Products Spices Paper/Wood products Meat & Preparations Sugar Other 0.1% Source: Agricultural Statistics At a Glance 2010," Economics And Statistics, Ministry of Agriculture, Government of India website, http://dacnet.nic.in/eands/latest_2006.htm, accessed 17 November 2010. *Provisional 19
MARKET OVERVIEW EXIM scenario (4/4) Vegetable oil is a leading agricultural product imported by India from developing countries such as Malaysia and Indonesia. 100%= US$ 12.9 billion Key agri products imported by India, 2009 2010* (US$ billion) 0.4% 26.1% 16.3% 44.6% Vegetable Oils Fixed (Edible) Wood & Wood Products Pulses Wheat 12.6% Other Source: Agricultural Statistics At a Glance 2010," Economics And Statistics, Ministry of Agriculture, Government of India website, http://dacnet.nic.in/eands/latest_2006.htm, accessed 17 November 2010. *Provisional 20
MARKET OVERVIEW Growth drivers (1/2) Growth in population and wealth With a population of more than a billion, India has a huge domestic demand for agri products. Although food deficit declined from 290 kcal/person/day in 1990 92 to 260 kcal/person/day in 2004 06, there is a challenge with respect to meeting the total demand for food. India s economic growth has, however, put into motion factors such as increasing private final consumption expenditure and disposable incomes, which have driven the agricultural sector. Land and irrigation India s land under cultivation has continued to rise since the 1950s, and more than 50 per cent of India s workforce is involved in agriculture and allied activities. In 2007 08 (P), the country s gross irrigated area stood at 87.3 million hectares, in comparison to 28 million hectares in 1960 61. Fertilisers Fertilisers comprise a key agri input, which has resulted in higher production of crops and yield. Fertiliser consumption per hectare has grown significantly from 0.55 Kg in 1950 to more than 125 Kg by 2009. 21
MARKET OVERVIEW Growth drivers (2/2) Mechanisation Seeds Institutional credit The Indian farmer has adapted modern agricultural techniques, such as the use of tractors and tillers. The farm power used in India has increased by five times to 1.502 kw/ha in 2005 06 from 0.0295 kw/ha in 1971 72, decreasing the contribution of human power from 15 per cent in 1971 72 to 5.8 per cent in 2005 06. High yielding varieties (HYVs) of seeds and an organised seed sector have been instrumental in driving agricultural productivity across the country. The area under certified seeds in India has increased from around 500 hectares in 1962 63 to more than 0.5 million hectares in 1999 2000, improving the yield of crops. Institutional credit has reduced the role of traditional money lenders in the Indian agricultural sector, thereby, creating an organised credit market. The share of institutional credit, which stood at approximately 7 per cent in 1951, has increased to more than 60 per cent in 2002; whereas the share of non-institutional credit, which primarily comprises money lenders, has declined to approximately 40 per cent in 2002, from 92.7 per cent in 1951. 22
MARKET OVERVIEW Growth drivers population and wealth (1/2) India has the second-largest population in the world, accounting for more than one-sixth of the world s population. The country s inherent need to feed more than a billion people, is a driving force for domestic agriculture. 1,400 1,200 1,000 800 600 400 200 0 India population (million) 1,154.0 1,019.0 839.0 679.0 541.0 434.0 359.0 1950-51 1960-61 1970-71 1980-81 1990-91 2000-01 2008-09 Population (Million) Sources: Handbook of Statistics on the Indian Economy 2008-09, Reserve Bank of India website, www.rbi.org.in/home.aspx, accessed 18 January 2010; India Agricultural Policy Review, Agriculture and Agri-Food Canada website, www.agr.gc.ca, accessed 18 January 2010. 23
MARKET OVERVIEW Growth drivers population and wealth (2/2) India s PFCE has been boosted by the economic reforms, which began in the 1990s. The growth in PFCE has resulted in the growth of the agriculture sector. Growth in the country's population and wealth has accelerated domestic demand, thereby transforming the country from a net importer to a net exporter of agricultural products (food crops). India private final consumption expenditure (PFCE) 35,100 Values indexed to 100 as of 1950 51 30,100 25,100 20,100 15,100 10,100 5,100 100 1950-51 1960-61 1970-71 1980-81 1990-91 2000-01 2008-09 Sources: Handbook of Statistics on the Indian Economy 2008-09, Reserve Bank of India website, www.rbi.org.in/home.aspx, accessed 18 January 2010; India Agricultural Policy Review, Agriculture and Agri-Food Canada website, www.agr.gc.ca, accessed 18 January 2010. 24
MARKET OVERVIEW Growth drivers agricultural land in India India ranks seventh in the world in terms of total geographic area. In 2008, arable land as a percentage of total land in India stood at 53.5 per cent, in comparison to the world average of 10.9 per cent. The area under irrigation in the country has grown at a steady pace since the Green Revolution, with net irrigated area accounting for 18.9 per cent of total land area in India in 2007 08P. Sources: Agricultural Statistics At a Glance 2010," Economics And Statistics, Ministry of Agriculture, Government of India website, http://dacnet.nic.in/eands/latest_2006.htm, accessed 17 November 2010 P Provisional 225 200 175 150 125 100 75 50 25 0 Land use (million hectares) 195.8 185.7 185.4 165.8 172.6 152.8 133.2 140.3 140.0 143.0 141.4 140.9 1960 61 1970 71 1980 81 1990 91 2000 01 2007-08P Total cropped area Net area sown 25
MARKET OVERVIEW Growth drivers improved irrigation facilities in India The government has taken several initiatives through five-year plans to improve irrigation facilities in India. The Working Group on Water Resources for the Eleventh Five Year Plan (2007 2012) has proposed creation of irrigation potential of 16 million hectare during the Eleventh Five Year Plan period. The total irrigation potential in the country has increased from 81.1 million ha in 1991 92 to 102.77 million ha by March 2007. 100 90 80 70 60 50 40 30 20 10 0 Irrigated area (million hectares) 87.3 76.6 63.2 62.3 55.1 49.8 48.0 38.2 38.7 28.0 31.1 24.7 1960-61 1970-71 1980-81 1990-91 2000-01 2007-08P Gross Irrigated Area Net Irrigated Area Sources: "Agricultural Statistics At a Glance 2008, Economics And Statistics, Ministry of Agriculture, Government of India website, http://dacnet.nic.in/eands/at_glance_2008.htm, accessed 18 January 2010; "Agricultural Statistics At a Glance 2009," Economics And Statistics, Ministry of Agriculture, Government of India website, http://dacnet.nic.in/eands/pdf%20files/tb14.5u.pdf, accessed 14 July 2010; P Kataria and AS Joshi, Energy Use in Indian Agriculture, Department of Economics, Punjab Agricultural University, Ludhiana, India; Agriculture and Food Management, Economic Survey 2009-10, Government of India: Union Budget and Economic Survey website, http://indiabudget.nic.in/es2009-10/esmain.htm, accessed 08 March 2010. P Provisional 26
MARKET OVERVIEW Growth drivers increasing role of fertilisers Fertilisers production and consumption Fertiliser consumption per hectare 30 25 20 15 10 5 0 24.9 19.7 14.8 14.3 12.5 9.0 5.5 3.0 0.2 0.3 1.1 2.2 1960-61 1970-71 1980-81 1990-91 2000-01 2008-09 140 120 100 80 60 40 20 0 128.6 111.8 116.8 105.5 88.9 2000-01 2005-06 2006-07 2007-08 2008-09 Production (Million Tonnes) Consumption (Million Tonnes) Consumption (Kg/ha) In 1950, per hectare use of fertilisers in India was 0.55 Kg. However, backed by government policies and initiatives, the consumption increased to more than 125 Kg per hectare by 2009. The government has taken various policy initiatives for the fertiliser sector, such as pricing policy for indigenous urea, new investments in the urea sector, nutrient-based pricing, production and availability of fortified and coated fertilisers, uniform freight subsidy on all fertilisers under the fertiliser subsidy regime, concession scheme for decontrolled phosphatic and potassic fertilisers, etc. Source: Agriculture and Food Management, Economic Survey 2009-10, Government of India: Union Budget and Economic Survey website, http://indiabudget.nic.in/es2009-10/esmain.htm, accessed 08 March 2010. 27
MARKET OVERVIEW Growth drivers mechanisation of Indian agriculture (1/2) The country has witnessed a surge in the sale of tractors and power tillers. In 2005, India was ranked second in the world, after the US, in terms of tractor usage. 2.0 1.5 1.0 Farm power in India (kw/ha) CAGR (2004 08) 4.8% 0.76 1.23 1.50 0.5 0.30 0.47 0.0 1971 72 1981 82 1991 92 2001 02 2005 06 Sources: Annual Report 2009 10, Department of Agriculture & Cooperation, Ministry of Agriculture, Government of India website, http://agricoop.nic.in/annualrepor2009-10/ar.pdf, accessed 14 July 2010; P Kataria and AS Joshi, Energy Use in Indian Agriculture, Department of Economics, Punjab Agricultural University, Ludhiana, India. 28
MARKET OVERVIEW Growth drivers mechanisation of Indian agriculture (2/2) 500,000 400,000 300,000 247,531 Sale of tractors CAGR(2005 09): 8.5 per cent 296,080 352,835 346,501 342,836 35,000 30,000 25,000 20,000 17,481 Sale of power tillers CAGR(2005 09): 19.2 per cent 22,303 24,791 26,135 35,294 200,000 100,000 15,000 10,000 5,000 0 2004-05 2005-06 2006-07 2007-08 2008-09 0 2004-05 2005-06 2006-07 2007-08 2008-09 Following the Green Revolution, Indian agriculture has moved towards mechanisation. The farm power used in India has increased by five times to 1.502 kw/ha in 2005 06 from 0.0295 kw/ha in 1971 72, decreasing the contribution of human power from 15 per cent in 1971 72 to 5.8 per cent in 2005 06. Sources: Annual Report 2009 10, Department of Agriculture & Cooperation, Ministry of Agriculture, Government of India website, http://agricoop.nic.in/annualrepor2009-10/ar.pdf, accessed 14 July 2010; P Kataria and AS Joshi, Energy Use in Indian Agriculture, Department of Economics, Punjab Agricultural University, Ludhiana, India. 29
MARKET OVERVIEW Growth drivers role of seeds in Indian agriculture 140 120 100 80 60 40 20 0 74.0 Seed production (billion tonnes) 79.7 85.3 114.6 120.0 6.9 7.4 9.2 9.4 10.5 2005-06 2006-07 2007-08 2008-09 2009-10A Foundation seed production Breeder seed production Certified/quality seed distribution (billion tonnes) HYV seeds have played a prominent role in the success of the Indian agriculture sector, resulting in higher production of food grains. During the Green Revolution, the Indian Council for Agricultural Research developed new strains of HYV seeds, and focused mainly on wheat and rice. 2,500 2,000 1,500 1,000 500 0 CAGR(FY06 10): 18.8 per cent 1,405.0 1,481.8 1,943.1 2,503.5 2,797.2 2005-06 2006-07 2007-08 2008-09 2009-10A Certified/Quality seed distribution The Seeds Act, 1966 and the New Policy on Seeds Development, 1988, form the basis of promotion and regulation of the Indian seed industry. The objectives of the National Seeds Policy, is to create an appropriate climate for the seed industry, safeguard the interests of Indian farmers, and the conservation of agro biodiversity. Source: Annual Report 2009 10, Department of Agriculture & Cooperation, Ministry of Agriculture, Government of India website, http://agricoop.nic.in/annualrepor2009-10/ar.pdf, accessed 14 July 2010. A Anticipated 30
MARKET OVERVIEW Growth drivers improved agricultural credit Flow of institutional credit to agriculture and allied activities (US$ billion) 8.7% 8.7% 9.9% 8.4% 8.9% 9.9% 9.8% 34.1% 31.0% 25.1% 22.0% 18.5% 19.0% 13.5% 57.2% 60.3% 65.0% 69.5% 72.6% 71.1% 76.7% 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09P Commercial banks Cooperative banks RRBs 100%= US$ billion 15.1 18.9 27.2 39.2 49.9 55.4 57.5 Institutional credit, which comprises loans from commercial banks, cooperatives societies and banks as well as regional rural banks (RRBs), has grown at a CAGR of about 25 per cent between 2002 03 and 2008 09. In 2008 09, the amount disbursed by all banks (including cooperative banks and RRBs) to agriculture and allied activities stood at US$ 57.5 billion (INR 2,644.6 billion), with commercial banks accounting for more than three-fourth of the amount disbursed. Sources: Annual Report 2009 10, Department of Agriculture & Cooperation, Ministry of Agriculture, Government of India website, http://agricoop.nic.in/annualrepor2009-10/ar.pdf, accessed 14 July 2010; Flow of institutional credit to agriculture and allied activities, Economic Survey 2008 09; Ramesh Golait, Current Issues in Agriculture Credit in India: An Assessment, Summer 2007, Reserve Bank of India Occasional Papers, RBI website, http://rbidocs.rbi.org.in/rdocs/publications/pdfs/82933.pdf, accessed 18 January 2010. P Provisional 31
AGRICULTURE November 2010 Contents Advantage India Market overview Industry Infrastructure Investments Policy and regulatory framework Opportunities Industry associations 32
INDUSTRY INFRASTRUCTURE Industry infrastructure Agriculture Export Zones (AEZs) (1/2) State AEZ Focus Products State AEZ Focus Products Andhra Pradesh Assam Bihar Mango pulp, fresh vegetables, grapes, mangoes, gherkins, chillies Fresh and processed ginger Litchis Punjab Rajasthan Sikkim Vegetables, potatoes, basmati rice Coriander, cumin Ginger, flowers (orchids) and cherry pepper Gujarat Himachal Pradesh Jammu & Kashmir Mangoes, vegetables, dehydrated onions, sesame seeds Apples Apples and walnuts Tamil Nadu Tripura Uttar Pradesh Flowers, mangoes, cashew nuts Pineapples Potatoes, mangoes, vegetables, basmati rice Jharkhand Karnataka Kerala Madhya Pradesh Vegetables Gherkins, rose onions, flowers, vanilla Horticulture products, medicinal plants Potatoes, onions, garlic, seed spices, wheat, lentils, grams, oranges Uttaranchal West Bengal Basmati rice, litchis, flowers, medicinal and aromatic plants Pineapples, litchis, potatoes, mangoes, vegetables, Darjeeling tea Maharashtra Grapes and grape wine, mangoes including Kesar mango, flowers, onions, pomegranate, banana, oranges Orissa Ginger and turmeric 33
INDUSTRY INFRASTRUCTURE Industry infrastructure Agriculture Export Zones (AEZs) (2/2) Total number of AEZs in India is 60 Distribution of AEZs among states 8 Maharashtra West Bengal 20 6 5 Andhra Pradesh Madhya Pradesh Distribution of AEZs among states Karnataka Uttaranchal 4 4 4 4 5 Uttar Pradesh Tamil Nadu Others Source: Agri Export Zones of India, Agricultural and Processed Food Products Export Development Authority website, www.apeda.com/apedawebsite/trade_promotion/agri_export_zone.htm, accessed 29 December 2009. 34
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INVESTMENTS Investments (1/4) The sector has transformed from agriculture to agribusiness, providing value to each stakeholder in the farm to fork value chain. In the recent past, the sector has witnessed investments from the corporate sector in the form of organic farming, contract farming, and setting up hubs for the procurement of farm produce. M&A scenario Key domestic deal in 2010: The largest deal in the sector was the acquisition of Agro Dutch Industries Ltd by Penta Homes Pvt Ltd, Vishwa Calibre Builders Pvt Ltd, and a private investor for US$ 85.4 million (INR 3.9 billion). Deal type Period: January 2009 to July 2010 No of deals Deal value (US$ million) 2009 Inbound 4 N/A Domestic 1 2.2 2010 Inbound 3 35.7 Outbound 2 N/A Domestic 5 87.5 Sources: Transactions, Bloomberg, accessed 12 January 2010 (for deals pertaining to 2009); M&A Transactions, Thomson One Banker, accessed 5 August 2010 (for deals pertaining to 2010); Consolidated FDI Policy, Department of Industrial policy and promotion website, www.dipp.nic.in, accessed 9 August 2010 36
INVESTMENTS Investments (2/4) Examples of investment by private players In March 2010, Bharti Walmart Private Limited, the joint venture between Bharti Enterprises and Walmart Stores Inc, launched the sustainable agricultural programme in Punjab. The programme provides sanitation and energy-efficient solutions through community toilets and bio-gas plants that impact the yield and quality of the farm produce. In March 2010, the Mauritius-based private equity fund, India Agri Business Fund, agreed to invest US$ 10 million (INR 460 million) in The Global Green Company Limited, the foods division of the Avantha Group. In July 2007, Cadbury India Ltd and the Tamil Nadu Horticulture Department entered an agreement to promote cocoa farming. The five-year agreement aims to bring 50,000 acres under cocoa farming, which would provide coconut farmers an additional income of US$ 17.4 million (INR 80 million) a year. In August 2006, Reliance Retail entered an agreement with the Punjab government for agricultural and retail projects entailing an initial investment of US$ 108.7 million (INR 5.0 billion). The company plans to set up rural hubs for procurement of vegetables, fruits, pulses and other farm produces. In 2003, Mahindra Shubhlabh Services Ltd, a subsidiary of Mahindra & Mahindra Ltd, and Punjab Agro Food grains Corporation, entered an agreement to divert about 100,000 acres of land from paddy (rice) to maize under contract farming. Sources: Transactions, Bloomberg, accessed 12 January 2010 (for deals pertaining to 2009); M&A Transactions, Thomson One Banker, accessed 5 August 2010 (for deals pertaining to 2010); Consolidated FDI Policy, Department of Industrial policy and promotion website, www.dipp.nic.in, accessed 9 August 2010; Bharti Walmart launches Sustainable Agri Program in Punjab, UNI (United News of India), 30 March 2010, via Dow Jones Factiva, (c) 2010 HT Media Limited; Global Green to get $10-m funding, Business Line (The Hindu), 13 March 2010, via Dow Jones Factiva, (c) 2010 The Hindu Business Line; Cadbury India in pact with TN Horticulture Dept, Business Line (The Hindu), 2 July 2007, via Dow Jones Factiva, (c) 2007 The Hindu Business Line; Punjab, Mahindras sign farm pact, Business Line (The Hindu), 14 March 2003, via Dow Jones Factiva, (c) 2003 The Hindu Business Line; Reliance Retail inks MoU with Punjab govt for agri project, The Press Trust of India Limited, 1 August 2006, via Dow Jones Factiva, (c) 2006 Asia Pulse Pty Limited. 37
INVESTMENTS Investments (3/4) Key state-wise contract farming initiatives by private sector State Crop Company/Corporate Area (Hectares) Maharashtra Soyabean Tinna Oils and Chemicals 134,800 Madhya Pradesh Wheat Hindustan Lever Ltd (HLL) 15,000 Punjab Rice (Basmati) Satnam Overseas, DD Intenational Inc, Amira Foods India Ltd (Escorts Ltd & Grain Tech) 14,700 Punjab Rice (Basmati), Groundnut & Potato, tomato, chilli PepsiCo India Ltd ~6,000 Karnataka Marigold & Caprica Chili AVT Natural Products Ltd 4,000 Punjab Rice (Basmati), Maize Satnam Overseas 4,000 Punjab Barley United Breweries Ltd 2,270 Sources: Agriculture and Food Management, Economic Survey 2009-10, Government of India: Union Budget and Economic Survey website, http://indiabudget.nic.in/es2009-10/esmain.htm,accessed 08 March 2010. 38
INVESTMENTS Investments (4/4) Total investment in the agriculture and allied sectors in 2008 09 amounted to US$ 28.87 billion (INR 1,386 billion), of which the private sector accounted for 82 per cent (US$ 23.78 billion). Sources: Socio Economic Survey, 2009 2010 Cumulative FDI inflows Period: April 2000 to September 2010 Sector Amount (US$ million) Agricultural services 1,540.5 Food-processing industries 1,102.0 Fermentation industries 787.72 Vegetable oils and vanaspati 185.69 Agricultural machinery 150.3 Fertilisers 121.27 Tea and coffee 94.57 Sugar 41.7 Total 4,023.8 Sources: Fact Sheet on Foreign Direct Investment (FDI), Department of Industrial Policy and Promotion website, http://dipp.nic.in/fdi_statistics/indian_fdi_september2010.pdf, accessed 26 November 2010. 39
AGRICULTURE November 2010 Contents Advantage India Market overview Industry Infrastructure Investments Policy and regulatory framework Opportunities Industry associations 40
POLICY AND REGULATORY FRAMEWORK Policy and regulatory framework (1/8) The various ministries within the Government of India and other agencies responsible for the development of the agricultural sector include Ministry of Food Processing Industries Department of Agriculture & Cooperation (National Horticulture Board) Department of Animal Husbandry, Dairying and Fisheries Ministry of Commerce and Industry (commodity boards for rubber, coffee, tea and spices) National Dairy Development Board (NDDB) 41
POLICY AND REGULATORY FRAMEWORK Policy and regulatory framework (2/8) The major acts and rules pertaining to the agro industry: Agriculture Produce (Grading & Marking) Act, 1937 Fruit Products Order, 1955 Coconut Development Board Act, 1979 National Cooperative Development Corporation (NCDC Act), 1962 Seed Act, 1966 Seeds Control Order, 1983 42
POLICY AND REGULATORY FRAMEWORK Policy and regulatory framework (3/8) FDI policy 100 per cent FDI is allowed under the automatic route in floriculture, horticulture, development of seeds, cultivation of vegetables and mushrooms under uncontrolled conditions and services related to the agriculture and allied sectors. 100 per cent FDI is allowed in the tea sector, including tea plantations, under the government route, subject to the following conditions: Compulsory divestment of 26 per cent equity of the company in favour of an Indian partner/the public within a period of five years. Prior approval of the state government, in the event of any future land use change. 43
POLICY AND REGULATORY FRAMEWORK Policy and regulatory framework (4/8) Government initiatives 1. Vishesh Krishi Gram UdyogYojana (VKGUY) special agriculture and village industry scheme The objective of this scheme is to promote exports in the following areas Agricultural produce and its value-added products Minor forest produce and its value-added variants Gram udyog products Forest-based products Other products 44
POLICY AND REGULATORY FRAMEWORK Policy and regulatory framework (5/8) Government initiatives 2. Rashtriya KrishiVikasYojana (RKVY) RKVY was launched in 2007 to achieve the objective of attaining 4 per cent growth in the agricultural sector during the Eleventh Plan Period. The key objectives of the scheme are: To incentivise states to increase public investment in agriculture and allied sectors To ensure the preparation of agriculture plans in the districts and states, based on agro-climatic conditions, and the availability of technology and natural resources To maximise returns to farmers engaged in the agriculture and allied sectors To bring about quantifiable changes in the production and productivity of various components of agriculture and allied sectors by addressing them in a holistic manner Sources: Department of Agriculture and Cooperation, Department of Industrial Policy and Promotion 45
POLICY AND REGULATORY FRAMEWORK Policy and regulatory framework (6/8) 35 30 25 20 15 10 5 0 Public sector outlays and expenditure under agriculture and allied activities (US$ billion) 4.9% 9.2 Ninth Plan (1997 2002) Plan Outlays 3.9% 12.8 Tenth Plan (2002 07) 29.6 3.7% Eleventh Plan (2007 2012) Percentage share of agriculture and allied activities to total outlay 6% 5% 4% 3% 2% 1% 0% India has pursued a policy to attain food self-sufficiency, with a focus on expanding cultivated and irrigated areas, implementing land reforms, adopting HYV crops, promoting increased use of chemical fertilisers and pesticides, and restructuring rural credit institutions, and community development. In 2000, the government announced its first comprehensive agricultural policy statement the National Agricultural Policy (NAP). The NAP aims to achieve an annual growth rate of 4 per cent in the agricultural sector by 2020. Sources: Share of Public Sector Outlays and Expenditure under Agriculture and Allied Activities during Ninth Plan, Tenth Plan, and Eleventh Plan, Department of Agriculture & Cooperation, Ministry of Agriculture, Government of India, http://dacnet.nic.in/eands/at_glance_2008/agriculture_new.html accessed 18 January 2010; Source: "Agricultural Statistics At a Glance 2008, Economics And Statistics, Ministry of Agriculture, Government of India website, http://dacnet.nic.in/eands/at_glance_2008.htm, accessed 18 January 2010. 46
POLICY AND REGULATORY FRAMEWORK Policy and regulatory framework (7/8) Currently, India s agricultural policy focuses on food self-sufficiency, remunerative prices for farmers, and maintaining stable prices for consumers. These goals are met by a number of instruments such as minimum support prices (MSP), food subsidies for consumers, regulated markets, input subsidies for producers, and international trade policy. Since independence, the country has focused on the agricultural sector, through five year plans. The government s Eleventh Five Year Plan (2007 2012), focuses on inclusive growth, and rests upon substantial increase in public sector outlay. In the Eleventh Plan, the public sector outlay towards agriculture and allied activities stands at US$ 29.6 billion (INR 1,363.8 billion). Sources: Share of Public Sector Outlays and Expenditure under Agriculture and Allied Activities during Ninth Plan, Tenth Plan, and Eleventh Plan, Department of Agriculture & Cooperation, Ministry of Agriculture, Government of India, http://dacnet.nic.in/eands/at_glance_2008/agriculture_new.html accessed 18 January 2010; Source: "Agricultural Statistics At a Glance 2008, Economics And Statistics, Ministry of Agriculture, Government of India website, http://dacnet.nic.in/eands/at_glance_2008.htm, accessed 18 January 2010. 47
POLICY AND REGULATORY FRAMEWORK Policy and regulatory framework (8/8) The Union Budget 2010 11 focused on the following: Provision of US$ 86.9 million (INR 4 billion) to extend the Green Revolution to the eastern region of the country, comprising Bihar, Chhattisgarh, Jharkhand, Eastern Uttar Pradesh, West Bengal and Orissa. Provision of US$ 65.2 million (INR 3 billion) to organise 60,000 pulses and oil-seed villages in rain-fed areas in 2010 11 and to provide an integrated intervention for water harvesting, watershed management and soil health to improve productivity of the dry land farming areas. Provision of US$ 43.4 million (INR 2 billion) to sustain the gains already made in the green revolution areas through conservation farming, which involves concurrent attention to soil health, water conservation and preservation of biodiversity. Banks have been consistently meeting the targets set for agricultural credit flow in the past few years. For the year 2010 11, the agricultural credit flow target has been set at US$ 81.5 billion (INR 3.7 billion). In addition to the 10 mega food park projects already being set up, the government has decided to establish five more similar parks. External commercial borrowings are to be available for cold storage or cold room facility, including those for farm level pre-cooling, for preservation or storage of agricultural and allied products, marine products and meat. Source: India Agricultural Policy Review, Agriculture and Agri-Food Canada website, www4.agr.gc.ca/aafc-aac/displayafficher.do?id=1201538787839&lang=eng, accessed 18 January 2010. 48
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OPPORTUNITIES Opportunities (1/3) 350 Demand supply gap of cereals in India (MT) 300 250 200 150 100 50 0 277.2 245.1 209.7 242.2 260.2 188.5 2011P 2021P 2026P Demand Supply The demand-supply gap for food in India shows that in the short to medium term, supply will meet demand requirements; from 2021 demand will outstrip supply for cereals, pulses, edible oil and sugar. Food commodity prices are likely to be high and volatile for the next 10 15 years. India needs a pulses revolution in order to meet the increasing demand. Sources: Surabhi Mittal, Working Paper No 209: Demand-Supply Trends and Projections of Food in India, Indian Council For Research On International Economic Relations (ICRIER) website, www.icrier.org, accessed 22 January 2010; India needs a pulses revolution, The Economic Times website, http://economictimes.indiatimes.com/opinion/perspectives/india-needs-a-pulses-revolution/articleshow/5035613.cms, accessed 21 September 2009. 50
OPPORTUNITIES Opportunities (2/3) Demand-side growth along with government initiatives expected to help India become a leading agro country India ranks among the fastest-growing global economies and is the world s converging point of focus amidst narrowing boundaries and well-connected international regions. The massive agrarian employment base in India s rural population is directly responsible for driving such unsurpassed growth dynamics. The Indian population is projected to reach approximately 1.6 billion in 2050, thereby creating a huge domestic demand for agricultural products. The various policies and growth initiatives of the Government of India are expected to further boost growth in this sector. According to the Organisation for Economic Co-operation and Development - Food and Agriculture Organization, India is estimated to account for 12.1 per cent and 21.8 per cent of the world s wheat and rice production, respectively by 2015. Sources: Surabhi Mittal, Working Paper No 209: Demand-Supply Trends and Projections of Food in India, Indian Council For Research On International Economic Relations (ICRIER) website, www.icrier.org, accessed 22 January 2010; India Agricultural Policy Review, Agriculture and Agri-Food Canada website, www4.agr.gc.ca/aafc-aac/display-afficher.do?id=1201538787839&lang=eng, accessed 18 January 2010. 51
OPPORTUNITIES Opportunities (3/3) Agricultural inputs expected to grow due to increased production levels With the production levels expected to grow, agricultural input such as fertilisers, farm equipment and machinery, irrigation facilities, institutional credit, and research and development are expected to be driven towards a higher target. These inputs are an essential part of the agribusiness, and provide opportunities across different levels in the agriculture value chain. Private sector involvement expected to boost Indian agriculture further Agriculture is expected to be a point of focus for the private sector in India, as a number of private players are expected to venture into organic farming, contract farming, and setting up hubs for the procurement of farm produce. Increased corporate investment in this sector is expected to offer a new frontier of growth across many areas such as economies of scale through advanced models of farming, effective distribution systems and food security. Increased private equity (PE) investment in the food processing and agri-based companies is also expected to boost further employment in this sector. PE players have invested US$ 300 million in these companies during January June 2010. Sources: Surabhi Mittal, Working Paper No 209: Demand-Supply Trends and Projections of Food in India, Indian Council For Research On International Economic Relations (ICRIER) website, www.icrier.org, accessed 22 January 2010; India Inc urged to invest more in agriculture, Business Line (The Hindu), 23 September 2010, via Dow Jones Factiva, 2010 The Hindu Business Line; PE funds invest $300 mn in food processing, agri-based companies, Business Standard, 21 July 2010, via Dow Jones Factiva, 2010 Business Standard Ltd. 52
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INDUSTRY ASSOCIATIONS Industry associations (1/3) Autonomous Bodies National Institute of Agricultural Extension Management (MANAGE) Rajendranagar, Hyderabad 500 030, Andhra Pradesh Phone: 040-24016702 to 706 Fax: 040-24015388 National Institute of Agricultural Marketing (NIAM) Bambala, Kota Road Jaipur 302033, Rajasthan Phone: 0141-2770027 Fax: 0141-2771938, 2770027 54