Shaping the Future: Economy of the Dynamic Global Landscape

Dr. Anupam Mishra Hon’ble Vice-chancellor Central Agricultural University, Imphal

The global economy is in a constant state of flux, which can profoundly impact businesses of all sizes. Forces such as advancement in technology, climate change and shifts in geopolitics have wide ranging implications on everything from trade and industry to social dynamics. Understanding global economic trends and insights on how the economy might evolve in years to come can help policy makers, investors, researchers and academics make informed decisions that help them navigate an ever-changing business landscape. To ensure long-term growth, adopting sustainable practices is essential. With climate change emerging as the focal point of the sustainability debate, it is crucial for countries like India to lead the way in creating a sustainable business environment. Sustainable development can serve as a blueprint for a country to achieve economic growth while safeguarding the environment and preserving resources for future generations.

India,is ahome for immense agricultural potential. The growth of Indian agriculture is driven by a combination of natural, technological, economic, and policy factors.However, this potential is often overshadowed by challenges such as fragmented markets, soil degradation, limited infrastructure, and the looming threat of climate change. The upcoming brainstorming seminar on “Futuristic Economics: Promoting Sustainable Development and Welfare”, organised by the Central Agricultural University (CAU), Imphal, from March 11–12, 2025, at College of Agricultural Engineering and Post Harvest Technology, Ranipool, Sikkim, aims to address these pressing issues by providing a platform for innovative discussions and actionable strategies.

This seminar goes beyond theoretical discourse—it seeks to provide practical solutions for transforming agriculture into a sustainable and inclusive economic powerhouse. By focusing on futuristic economics, the event will connect the dots between technology, sustainability, and economic welfare, for India in general and particularly for the North East region, which faces unique developmental challenges.

Why Futuristic Economics Matters?

The concept of futuristic economics is grounded in addressing modern challenges such as climate change, food insecurity, and resource scarcity while leveraging emerging technologies. The World Bank projects that the global economy will grow by approximately 2.7 percent in 2025. However, beyond the immediate future, several structural shifts are occurring in the global economy that will influence growth patterns. The global economic environment is intricate and constantly evolving, with ongoing uncertainties raising concerns among experts. Therefore, it remains crucial to keep tracking trends and insights to understand the future trajectory of the global economy.

For India, where agriculture forms the backbone of livelihoods, challenges are magnified due to geographical isolation, ecological vulnerability, and socio-economic disparities.Futuristic economics offers a way to reimagine agricultural systems to make them more resilient, efficient, and equitable. It emphasizes the integration of cutting-edge technologies such as artificial intelligence (AI), blockchain, and big data with traditional practices to build sustainable and scalable models. For example, AI-powered tools can help farmers predict weather patterns and optimize resource use, while blockchain can ensure traceability and transparency in the supply chain, making India's produce more competitive in global markets.

Addressing food insecurity is another critical aspect of futuristic economics. With the global population expected to exceed 9 billion by 2050, ensuring food security while preserving the environment is a pressing concern. India’s food system is both complex and diverse, responsible for providing nutritious food to over 1.4 billion people. Currently, approximately 194 million people in India suffer from undernutrition, 43.3 million children under five are stunted, and around 20 percent of adults are obese. Transforming food systems explores the opportunities and challenges to achieving a nutrition-secure future through more diversified production systems, improved health and hygiene, and greater individual access to balanced diets. While food security has gained increasing attention from policymakers and advocacy groups, achieving a healthier and more sustainable future requires a systems-based approach to create equitable and just strategies.The seminar will explore how the India’s rich biodiversity and agro-climatic advantages can be harnessed to contribute to  food security goals while creating economic opportunities for its people.

Sustainability in Agriculture: A Key to Resilience

For a country like India, sustainability is not a choice-it is a necessity owing to several socio-economic, environmental, and demographic reasons. The seminar’s focus on sustainable agriculture aligns perfectly with the region’s needs. Sustainable practices like organic farming, regenerative agriculture, and zero-waste systems can not only enhance soil health and biodiversity but also position the country, particularly North East region as a leader in the global organic market. Consider the success story of Sikkim, which became the world’s first fully organic state. This demonstrates the potential for scaling up similar initiatives across the region. By integrating sustainability into the core of its economic systems, the country can create a model that balances economic growth with ecological preservation.

Additionally, the seminar will delve into the valuation of natural resources and ecosystem services, providing tools for policymakers to quantify the economic benefits of sustainable practices. For instance, forests, which are abundant covering 21.71per cent of the country's total area, can generate income through carbon credit markets, providing a financial incentive to protect these vital ecosystems.

Technology: The Game-Changer for Indian Agriculture

The role of technology in revolutionizing agriculture cannot be overstated. The seminar will explore how tools like drones, IoT sensors, and remote sensing can help the farmers to overcome traditional barriers like limited access to markets and unpredictable weather patterns.Imagine a farmer in Arunachal Pradesh using IoT-enabled soil sensors to determine the exact nutrient needs of their crops or a cooperative in Assam utilizing blockchain to verify the authenticity of their organic tea for export. These technologies are not distant dreams; they are tangible solutions that can drive efficiency, transparency, and profitability.

Furthermore, the potential of e-commerce platforms to connect farmers directly with consumers, eliminating exploitative middlemen will be highlighted too. This direct-to-consumer model can empower farmers to command better prices for their produce while giving consumers access to high-quality, traceable goods.

Nutrition and Productivity: Breaking theVicious Cycle

The economic implications of malnutrition, a hidden barrier to productivity and growth will also be the limelight for discussion.  Poor nutrition not only affects individual health but also has a cascading impact on economic productivity, leading to absenteeism and reduced workforce efficiency threatening the long-term sustainability.  The implication is that India loses 4% of its GDP annually due to different forms of malnutrition. Hence holistic approaches focusing on education, technology, and inclusive policies are critical to bridging these gaps.

For the North East, where nutritional challenges persist, nutrition-driven agriculture can serve as both a health and economic intervention. By promoting the cultivation of nutrient-dense crops and fortifying food systems, the region can address malnutrition while creating new economic opportunities.

Climate Resilience: Preparing for the Future

Climate change is a major driver of global economic trends and financial markets. The global economy is highly susceptible to climate shifts, both directly and indirectly. The increasing frequency and severity of natural disastersare linked to climate change and significantly affect economic growth, investment, and market stability.A recent report by the Reserve Bank of India indicates that up to 4.5 percent of India’s GDP could be at risk by 2030 due to lost labour hours from climate change, extreme heat, and humidity. In 2022, India lost 8 percent of its GDP due to climate change. According to the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), the cost of climate change could rise to 35 percent of India's GDP by 2100, driven by high emissions, compared to 24 percent for developing Asia as a whole.

The North East is particularly vulnerable to the impacts of climate change, including erratic rainfall, floods, and soil erosion. The seminar’s discussions on climate-smart agriculture will provide a roadmap for building resilience in the face of these challenges.For example, the adoption of drought-resistant crops, rainwater harvesting systems, and renewable energy solutions like solar-powered irrigation can help mitigate the risks posed by climate change. Additionally, green financing mechanisms, such as subsidies for sustainable practices, can encourage farmers to adopt climate-resilient techniques without bearing the financial burden alone.

What to expect?

The upcoming seminar on “Futuristic Economics: Promoting Sustainable Development and Welfare” has the potential to redefine the agricultural and economic landscape India in general and North East India in particular. This event aims to foster innovative discussions and actionable strategies to address the region’s unique challenges. More than a platform for dialogue, it seeks to offer tangible solutions for transforming agriculture into a sustainable and inclusive economic powerhouse. The seminar’s outcomes will be far-reaching. Participants will gain insights into how cutting-edge technologies such as AI, blockchain, and IoT can revolutionize farming practices. These tools will enable farmers to optimize resources, navigate climate uncertainties, and reach global markets. By integrating traditional practices with modern innovations, the region’s rich biodiversity and agro-climatic advantages can be harnessed sustainably.

Beyond technological integration, the event will strengthen partnerships among stakeholders. Policymakers will gain frameworks to address challenges like climate resilience and food security while incentivizing sustainable farming practices. Entrepreneurs will discover opportunities in agritech and value chain transparency, while researchers will identify new interdisciplinary approaches to solving global agricultural issues. Farmers, often isolated from mainstream markets, will learn how to utilize e-commerce platforms and innovative financial models like carbon credits, ensuring fairer prices and additional revenue streams.

The seminar also highlights the importance of sustainability, not just as an ecological necessity but as a driver of economic growth. Discussions will explore organic and regenerative farming, climate-smart agriculture, and zero-waste systems, offering a pathway to position India as a global leader in sustainable agriculture. Policymakers, in particular, will benefit from tools to value natural resources and ecosystem services, aligning economic incentives with environmental preservation. This event is a call to action for all stakeholders—farmers, businesses, researchers, and policymakersto come together and embrace sustainable development, innovation, and resilience. The outcomes of the seminar will pave the way for India in overcoming its challenges but also becomes a model for sustainable economic prosperity.

A Vision for the Future

The brainstorming seminar is more than just an academic exercise—it is a call to action. Through a harmonious blend of thought-provoking discussions, engaging sessions and valuable networking opportunities, the ‘Futuristic Economics’ is expected to inspire and empower stakeholders – policymakers, businesses and academics to embrace innovation, sustainability and social responsibility which will be the key in overcoming challenges and seizing opportunities in this rapidly changing environment. For the country and the North East region, this seminar represents a turning point. It offers a chance to transform the country into a hub of sustainable agricultural practices, technological innovation, and economic prosperity. By embracing futuristic economics, the country can not only address its challenges but also serve as a model for the rest of the world.As the seminar approaches, the call is clear: policymakers, researchers, entrepreneurs, and community leaders must come together to turn these ideas into reality. The time to act is now, and the future of the country depends on it.