India has a strong vegetarian culture, but projections estimate that India's meat consumption (mainly chicken and fish at 63 per cent) will rise to 9 kg by 2050, from a base of 3 kg.
Private investment in agri R&D is not much in India. However, of late in China, private investment in farm research is on the rise. It is rising rapidly as compared to the public funding in China, Chand said.
"Globally, more intellectual property rights in farm technologies are being created by private sector. So, I do not say private sector is avoiding investment in agriculture," Chand said.
Emphasising the need to use technology in a more balanced way, Chand said technology used in the Green Revolution period had some adverse effects as it promoted the use of fertilisers
However, any shift from this would be a "dangerous trend" for the country.
He also talked about creating awareness on nutritious foods and absence of science in food manufacturing in the country.
Talking about food wastage, Walmart India CEO And President Krish Iyer said it is a serious problem and needs to be curbed given constrains of natural resources to grow food to meet the needs of the rising population.
Iyer enumerated four steps that retailers could take to check food wastage at supplier and retail levels - upgradation of inventory system, partnering with farmers and supply chain, modification/elimination of some standard store operation and consumer awareness.
Nestle India Managing Director and Chairman Suresh Narayanan said the challenge in the country is not only about quality nutrition but also about awareness on what constitutes good nutrition and healthy habits.
Food safety regulator FSSAI's chief management services officer Madhavi Das and Cargill India
Chairman Siraj Chaudhry were also present at the event.