India’s drought crisis could threaten $1tn agricultural sector, says World Bank
The World Bank has warned that a drought in India could threaten more than $1 trillion in agricultural and forestry sector, as the country struggles to cope with the monsoon season.
In its latest World Development Report, the bank said India has experienced severe drought and severe economic hardships.
While it said the country is now recovering, the report warned that the situation could worsen further if there is no improvement in the situation of agriculture and forestry, which is the backbone of the economy.
The bank said that if farmers continue to suffer, the agrarian sector could be at risk of total collapse.
The global development bank said the Indian government needs to address this threat and improve its agricultural infrastructure.