(Indianapolis, IN) - Farmers from Indiana and other states could benefit tremendously if what looks like gold is struck from ongoing trade talks with the world’s most populous country.
India is viewed as having almost endless potential for U.S. exports of corn, soybeans, and other crops along with poultry. With 1.4 billion people, the developing country has a growing economy and more households with middle and upper-middle-class incomes able to afford more than just the basic staples in their diets. Enhancing the purchasing power in that country are higher incomes also being in the hands of people 24 years of age and younger, which makes up 45 percent of India’s population.
Courtney Kingery, Chief Executive Officer of the Indiana Soybean Alliance, Indiana Corn Marketing Council, and Indiana Corn Growers Association, was part of a delegation that went on a USDA-sponsored trade mission trip to India last month. She came back excited about India’s interest in becoming a trade partner with the U.S. and the role the Hoosier state can play in helping meet the country’s demand for corn, soybeans, duck, and turkey. Currently, not much trade happens between the U.S. and India, which ranks 13th for the amount of farm goods the U.S. exports to other countries.
“It can be a difference maker as this goes forward,” she said.
Indiana is the nation’s leading producer of duck and the third-largest producer of turkey, also ranking high in the production of corn and soybeans. The export of poultry to India is high on the interest level of food producers since very little beef and pork are consumed in that nation.
After returning from the trip. Kingery said work has continued on connecting Indiana producers with potential customers in the private sector the delegation met during the trip and others from India who might be interested.
“I’m just really excited to see what develops over the next several years,” she said.
Driving much of the optimism is India lowering its tariffs on imports for goods such as poultry, which dropped from 30 percent to 5 percent, and reception from business owners looking to stay in good enough supply to meet growing demand