New Delhi [India], June 10 (ANI): With agriculture sector employing around 43 per cent of the South Asian workforce, the region has strong potential to emerge as a global leader in food systems, said World Bank Group, as per a statement by the Ministry of Food Processing Industries.

The Ministry of Food Processing Industries (MoFPI), Government of India, partnering with the World Bank Group-led SAPLING initiative, inaugurated the Regional High-Level Policy Dialogue titled 'Unlocking Value: Advancing Food Processing for Employment Generation and Sustainable Growth in South Asia' in Ahmedabad, Gujarat on Wednesday.

Noting that the region stands at a 'critical' point in its development journey with millions of young people entering the workforce every year, 'creating sustainable jobs has become one of the region's most pressing priorities,' the release added.

Furthermore, the World Bank Group highlighted South Asia's agriculture sector contributes just around '16 percent of the region's GDP' despite being valued at over 'USD 700 billion.' Additionally, 'more than 30 per cent of food produced in South Asia is lost or wasted every year -- enough to feed nearly 300 million people.'

'The World Bank Group highlighted that transforming food systems beyond the farm can unlock significant opportunities for employment, investment, economic growth, and poverty reduction,' the release said.

According to the release, the next phase of agricultural transformation lies on expanding food processing, storage, logistics, marketing, and value addition that can create millions of productive jobs while reducing food losses and increasing farmers' incomes.

India's food grain production has increased from 51 million tonnes in 1950-51 to over 330 million tonnes. It further noted India's processed food exports have more than doubled over the past decade, surging from approximately USD 4.9 billion to over USD 10 billion. 'The food processing sector currently contributes around 9 percent of manufacturing value added and nearly 13 percent of India's exports,' it said.

Despite this progress, the country's food processing currently accounts for 'only a small share of total employment and a large proportion of agricultural produce still remains unprocessed.'

Strengthening cold chains, storage facilities, logistics networks, and market linkages can substantially increase value creation across the sector.

South Asia can emerge as a global leader in food systems. 'Rapid urbanization, a growing middle class, rich agro-biodiversity, and rising demand for safe and high-quality processed food are creating new opportunities for investment and innovation,' the release said.

World Bank Group is advancing a combined approach through AgriConnect and SAPLING.

AgriConnect is a global platform aiming to connect 300 million farmers to markets by 2030 through investments in infrastructure, policy reforms, and private capital mobilization. 'The initiative is already supporting projects and reforms across countries including India, Bangladesh, and Sri Lanka,' as per the release. (ANI)