By Scout Nelson
In late April, Indiana agriculture advocates embarked on a transformative trade mission to India, guided by USDA Under Secretary for Trade and Foreign Agricultural Affairs, Alexis Taylor.
This mission, which included a robust delegation from 47 U.S. agribusiness and farm organizations along with 11 state departments of agriculture, aimed to forge and enhance business ties with one of the world’s fastest-growing economies.
India, renowned as the world's most populous country and fifth-largest economy, continues to present vast opportunities for U.S. food and agricultural products.
Alexis Taylor highlighted, “With a growing middle class that’s expected to exceed 660 million by 2030, India presents a strong consumer-oriented market where exports from American agribusinesses and producers can flourish.”
Courtney Kingery, CEO of the Indiana Soybean Alliance and the Indiana Corn Marketing Council, shared insights from the mission, noting the expanding opportunities for Indiana's poultry and ethanol sectors.
“Indiana has a role to play in feeding and fueling the world," Kingery said. "We met with customers in the fuel and ethanol industry and poultry producers in India. What we learned is that they need products from Indiana. They need our fuel. They need our soybean meal. They need our turkey, and they need our duck.”
The reduction of tariffs on turkey and duck products from 30 percent to 5 percent, as announced in September 2023, significantly enhances market access, creating an advantageous position for Indiana.
“More turkey and more duck going into India means more corn and soybeans and soybean meal being consumed by those turkeys and ducks eating locally,” Kingery explained.
With the Indian government aiming to incorporate 20 percent ethanol into its automotive fuel by 2025, and the existing sugar cane ethanol supply unable to meet these targets, there is a considerable market opening for Indiana’s corn-based ethanol.
Katie Nelson, Deputy Director of the Indiana State Department of Agriculture, reinforced the state’s readiness to meet these demands. “We are focused on exports and the world is excited about the high quality of products that Indiana and the United States can supply them,” she stated.
This mission reinforces Indiana's commitment to global agricultural leadership and sets the stage for long-term economic benefits through increased exports to a critical international market.
Photo Credit -shutterstock-dickgage
Categories: Indiana, Business, Energy