Confederation of Indian Industry

Abstract India’s transformation of its food system from a highly deficient one in the mid-1960s to one that is self-reliant and marginally surplus now is a success story that holds lessons for many smallholder economies in Africa and south and south-east Asia. India has emerged as the largest producer of milk, spices, cotton and pulses; the second largest producer of wheat, rice, fruits and vegetables; the third largest producer of eggs; and the fifth largest producer of poultry meat. It is also the largest exporter of rice, spices and bovine meat. All of this became possible with an infusion of new technologies, innovative institutional engineering, and the right incentives. However, as India looks towards 2030 and beyond, its food system faces many challenges ranging from increasing pressure on natural resources (soils, water, air, forests) to climate change to fragmenting land holdings, increasing urbanisation, and high rates of malnutrition amongst children. To meet these challenges successfully, India needs a proper mix of policies- from the subsidy-driven to the investment-driven, from price policy to income policy, promoting agricultural diversification towards more nutritious food. It also needs to incentivise its private sector to build efficient and inclusive value chains, giving due importance to environmental sustainability. More innovative technologies, from green-to-gene, increasing digitalisation, the Internet of Things, and artificial intelligence, would be needed to ‘produce more from less’ with a goal of feeding the most populous nation on this planet by 2030 in a sustainable manner.

Mountainous forested watersheds are important hydrologic systems that are responsible for much of the water supply and run-of-the-river hy-dropower schemes in many parts of the world. In India, the Western Ghats are one of such important hydrologic systems located in southern peninsular region. Several of these watersheds are ungauged. The Soil and Water Assessment Tool (SWAT) has been used to model streamflows for two mountainous forested watersheds, namely, Gurupur (699 km2) (a gauged watershed) and Upper Payaswini (44.6 km2) (an ungauged wa-tershed). Model calibration and validation are performed using monthly and daily streamflow data for the gauged watershed. Sample flow values obtained over a limited period were used for validation of ungauged wa-tershed. Flow duration curves (FDCs) have been derived to assess per-centile flow distributions. Model performance is evaluated using Nash-Sutcliffe coefficient (ENS), percent bias (PBIAS), coefficient of de-termination (R2) and comparison of percentile flow values obtained from observed and simulated FDCs. Sensitivity analysis with Latin Hypercube One-factor-At-a-Time (LH-OAT) indicates five soil-land use related pa-rameters namely, soil available water capacity (SOL_AWC), soil evapora-tion compensation factor (ESCO), soil depth (SOL_Z) and layers, groundwater baseflow (ALPHA_BF), and curve number (CN2 (forest & agriculture)), to be sensitive for simulating both gauged and ungauged wet mountainous forested watersheds. Study shows that lateral flows from dynamic sub-surface zones in such watersheds contribute substan-tially to the total water yield.

The main purpose of this research article is to provide a comparative framework on various implications of risk anomalies on Indian stock market based on an empirical study for the following sectors: Pharmaceutical, Fast-Moving Consumer Goods (FMCG) and IT. Risk anomaly is a notable anomaly because it is continual and all-inclusive. This research study aims to examine the existence of risk anomaly in the National Stock Exchange, India, and in particular providing a comparative analysis on the behavior of the pharmaceutical sector in India.