New Delhi, Aug 18 - The drought-like situation may pose a challenge to India's agriculture sector, but the country is unlikely to face shortage of foodgrain till next year, according to Commerce and Industry Minister Anand Sharma.

'The looming drought poses a challenge to our agriculture sector,' Sharma said while delivering the valedictory address at a national workshop on 'Achieving Exponential Growth in Agro Exports', organised by the Agricultural and Processed Food Products Export Development Authority here Tuesday.

'But fortunately we had bumper crops. So our granaries are full. We do not see any shortage of foodgrains this year and hopefully next year,' he said.

Stating that no country can produce food for a billion people, he said India would have to depend upon itself for its food security.

'India's self-sufficiency in food is a major contribution to global food security,' the minister said.