FM Nirmala Sitharaman exhorts businesses to capitalise on the global demand for millets

• ByStartupStory     |    September 30, 2022

In order to increase the export of value-added millets from India, Finance Minister Nirmala Sitharaman pushed entrepreneurs on Thursday. Consumers all over the world see millet as a precious commodity for their health and well-being.

Speaking during the Federation of Karnataka Chambers of Commerce & Industry’s 105th annual general meeting (AGM), Sitharaman noted that 2023 will be recognised as the international year of millets and that India is the largest producer of millets in the world (FKCCI).

According to the Finance Minister, India is the world’s third-largest exporter of millets, but processing and adding value to raw millets was crucial. She said that ready-to-use millets had a sizable demand abroad.

Sitharaman stated that millet processing offers a significant opportunity for startups to work on, in addition to software, pharmaceuticals, and medical devices. She advised businesses to look at novel methods to add value and consider areas such as packaging as well as price and market discovery.

According to Sitharaman, the export of value-added millets will not only assist farmers to get a better price for their goods but also expand India’s export market. She asked all parties involved, including chambers of business and chartered accountants, to work together on this to quicken India’s pace of economic development.

Next year’s G20 summit will be held in India. In addition to Delhi, the G20 meetings will also take place in Karnataka. She emphasised that Karnataka was the top producer of millets in India and stated, “I hope, wish, and will certainly do my part for Karnataka to do its branding and to find such items which may be presented in G20 meetings.”

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