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By:

Parashram Patil

14 January 2026 at 3:19:45 pm

Maharashtra’s Agri Leap into Europe

The next big opportunity for Maharashtra’s farmers may not lie only in bigger harvests, but in smarter markets. As India and the European Union move towards a Free Trade Agreement (FTA), the state has a chance to transform itself from a supplier of agricultural commodities into a global hub for high-value, sustainable food products. The India–France strategic partnership, traditionally anchored in defence, space, clean energy and the Indo-Pacific, is acquiring a new dimension: agriculture....

Maharashtra’s Agri Leap into Europe

The next big opportunity for Maharashtra’s farmers may not lie only in bigger harvests, but in smarter markets. As India and the European Union move towards a Free Trade Agreement (FTA), the state has a chance to transform itself from a supplier of agricultural commodities into a global hub for high-value, sustainable food products. The India–France strategic partnership, traditionally anchored in defence, space, clean energy and the Indo-Pacific, is acquiring a new dimension: agriculture. For Maharashtra, which already occupies a commanding position in India’s horticulture and agricultural exports, the partnership offers a route to integrate with European markets, attract investment and create a more prosperous rural economy. Opportune Moment The timing is favourable. European consumers are increasingly demanding food that is not merely affordable but traceable, safe and environmentally responsible. The future of agriculture will belong to those who can guarantee quality from the farm gate to the supermarket shelf. Maharashtra has the raw material. The challenge is to build the systems that convert production strength into global competitiveness. The state begins with considerable advantages. It is India’s largest exporter of grapes, pomegranates and Alphonso mangoes, products that already carry international recognition. Its agricultural basket also includes onions, bananas, sugar, spices, cashew and processed foods. With the Jawaharlal Nehru Port Authority, expanding cold-chain networks, the Samruddhi Mahamarg, Atal Setu and the upcoming Navi Mumbai International Airport, Maharashtra is steadily building the physical infrastructure required to connect farmers with distant consumers. The proposed India–EU FTA could significantly widen these possibilities. Nashik grapes, which have already met demanding European standards on food safety and traceability, can find greater space in premium retail markets in France and across Europe. Ratnagiri and Devgad Alphonso mangoes, protected by Geographical Indication (GI) status, have the potential to become niche luxury products rather than seasonal exports. Pomegranates from Solapur and Sangli, bananas from Jalgaon, Nagpur oranges, Konkan cashews, Kolhapuri jaggery, turmeric and spices can all benefit from rising European demand for healthy and sustainably produced foods. Traditional Trap But the real opportunity lies beyond exporting raw produce. Maharashtra must avoid the traditional trap of shipping commodities while others capture the larger profits through processing and branding. The future lies in fruit pulps, juices, dehydrated vegetables, ready-to-eat foods, nutraceuticals and specialty ingredients. Value addition can create rural enterprises, generate jobs and ensure that a larger share of global market earnings reaches farmers. The foundations for such a transformation are already being laid. National programmes such as the Agriculture Export Policy, PM Gati Shakti, the National Logistics Policy, PM Kisan SAMPADA Yojana and the Digital Agriculture Mission are creating an enabling environment. Maharashtra’s own initiatives, including the Maharashtra Agribusiness Network (MAGNET), SMART Project and Project on Climate Resilient Agriculture (POCRA), are strengthening Farmer Producer Organisations, improving market access and encouraging investment in modern agricultural value chains. The next frontier, however, will be sustainability. European markets are becoming increasingly sensitive to chemical residues, carbon footprints and production practices. Natural Farming can become a strategic advantage if combined with scientific monitoring, digital traceability and international certification. Maharashtra’s grapes, mangoes, pomegranates and spices can command premium prices if consumers in Europe can verify not only where they were grown, but how they were grown. This is where France can play a catalytic role. French expertise in food processing, precision agriculture, geographical indications, sustainable farming and agri-technology can complement Maharashtra’s production capabilities. Partnerships in research, cold-chain management, food processing and agricultural innovation can help create an ecosystem that benefits farmers, entrepreneurs and consumers alike. Yet global markets are unforgiving. International competitiveness requires consistency, quality control and institutional coordination. A single shipment failing safety standards can damage years of market-building. Maharashtra will therefore need stronger testing facilities, better farmer training, efficient certification systems and deeper integration between producers, exporters and technology providers. The ambition must extend beyond exports. Agriculture remains central to Maharashtra’s broader development story. A prosperous rural economy will require not only higher yields but higher incomes, driven by innovation and access to premium markets. As Maharashtra pursues its vision of becoming a developed economy by 2047, the India–France partnership and the India–EU FTA offer a rare strategic opening. The state can become India’s agricultural gateway to Europe. And if Maharashtra gets the formula right, its fields could become the foundation of a new global agricultural identity. (The writer is a member of Maharashtra Agriculture Price Commission. Views personal.)

Lateral upgrade to ailing annihilation

Updated: Oct 21, 2024

Lateral upgrade to ailing annihilation

Being the first person from the private sector to be appointed as chairperson of Securities and Exchange Board of India (SEBI) as part of the government’s lateral initiative, Madhabi Puri Buch also holds the honour of being the first woman to hold the top post as capital market regulator.

But the laurels that the former private sector banker enjoyed in her earlier stint with ICICI Bank, was marred with allegations that she and her husband were having a stake in offshore entities, which were used to artificially inflate shares of Adani group companies.

Terming the allegation as `character assassination, Buch clarified that all disclosures have already been furnished and the fund in question did not invest in any securities involving the Adani group.

When it rains, it pours. This allegation was subsequently followed by Congress Party allegation that Buch had received salary and post-retirement benefits from ICICI Bank after she quit the private sector bank.

In its clarification to the stock exchanges, ICICI Bank asserted that the payments made to Buch were purely retirement benefits after her exit from the bank and they were neither salary nor employee stock options.

Prior to these allegations, Buch tenure at SEBI was all about bringing in quick reforms on operational issues by changing the format of consultation paper to bring in larger responses digitally. Being data savvy, the rationale of her decisions were democratic based on big data analysis derived from the responses received to the consultation papers.

Further she bifurcated the duties of the SEBI staff between operations and enforcement, which were done by the same persons earlier. Having worked for the private sector in the capital market domain space, Buch had a better understanding of the subject compared to officers from the administrative service in the past that reflected even in her orders as a whole-time director at SEBI before becoming the chairperson. As a whole time director at SEBI, her orders on adjudication issues were more directional to the capital market space, according to experts in the compliance space. She was also quick to revamp the old provisions of the 90s at SEBI.

Being tech and data savvy, Buch enhanced regulatory surveillance and detection of market manipulation, insider trading and fraud while also emphasizing on strengthening corporate governance by introducing stricter rules for independent directors and enhancing disclosures for related-party transactions.

To put in perspective, the annual report of the capital market regulator in the just concluded financial year revealed that the number of investigations related to insider trading jumped to 175 in 2023-24 from 85 in the preceding year while probes related to front running jumped over three times to 83 from 24 in the preceding year.

Transparency in mutual funds by implementing measures to protect retail investors along with tightening norms for initial public offers, particularly in the SME platforms were some of her other positive initiatives including confirmation of denial of any market rumours within 24 hours for the top 100 listed companies which will be extended to top 250 companies from December 1. However increased transparency and compliance with tightening regulations led to increased operational costs for the market participants and hence faced resistance from certain quarters. Born in 1966, Buch completed her primary education in Mumbai and graduated with specialization in Mathematics from Delhi and later obtained a management degree from Indian Institute of Management, Ahmedabad. In between, she got engaged to Dhawal Buch, a director at a consumer goods multinational at the age of eighteen and got married at the age of 21.

Besides ICICI Bank, Buch also worked as a lecturer at a college in England, worked at Greater Pacific Capital in Singapore and ICICI Securities as its CEO. She also worked as executive director on several private sector companies and as a consultant for New Development Bank (Brics Bank).

What now remains to be seen, is whether Buch, who survived the 26/11 terror attack when she along with her husband, was attending a meeting at Taj, be able to overcome the current ordeal. Keeping fingers crossed for the times to come.

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