India’s farm sector growth may reach 3.1% in current fiscal: NITI Aayog Member

Thursday, January 16, 2020

New Delhi, 16th January 2020
: India’s farm sector growth for the current fiscal is expected to remain higher at 3.1 per cent compared to 2.9 per cent in FY19, NITI Aayog Member, Prof Ramesh Chand said at an ASSOCHAM event held in New Delhi today.
 
“Role of private sector in Indian agriculture sector has to come in a big way, I feel today we need more competition in agriculture, more investment and the face of agriculture from traditional to modern and movement of agriculture from present stage to higher evolution will not happen without active involvement of private sector,” said Prof Chand in his inaugural address at ASSOCHAM 2nd National Conference on Food Value Chain Partnerships.
 
He said, “Unless we increase corporate sector’s investment and involve them from seed and continuing it up to sale, it would be difficult to cause a breakthrough in growth of agriculture and doubling farmers’ income.”
 
Prof Chand also informed that NITI Aayog was trying to convince the central government to make up its mind in terms of Model Land Lease Act prepared.
 
On the APMC Act and Agriculture Produce Contract Farming Act, he said, “I think we need to persuade the states, we are already trying to do it that those two acts are adopted by the states.”
 
Stating that there is a big knowledge gap in the area of food value chain, the NITI Aayog Member said, “Without bringing agriculture into picture and value chain kind of things, it will be very difficult to create more jobs in future. Agriculture is coming back into the development agenda. Food value chain is one very-very important element for economic development of emerging economies.”
 
In his keynote address, Dr Ashok Dalwai, CEO, National Rainfed Area Authority said, “To avoid food wastage, we need to build an infrastructure to store what we cannot consume.”
 
Dr B.N. Srinivasa Murthy, horticulture commissioner, Ministry of Agriculture & Farmers’ Welfare said that we can easily compete with any western country in food value chain partnerships if we focus on micro-level products like coconut, honey, wine and more.”
 
UNIDO representative in India, Mr Rene Van Berkel said that to move forward in the food value chain partnerships, we need to focus prominently on the area of food processing.
 
Mr Deepak Bagla, CEO, Invest India in his address said that there is no way India can reach the $5 trillion economy goal without an agricultural revolution.
 
Mr Sagar Kaushik, Global COO, UPL also said that the value our farmers are producing is the second largest in the world.
 
About ASSOCHAM:
ASSOCHAM initiated its endeavour of value creation for Indian industry in 1920. It was established by promoter Chambers, representing all regions of India. Having in its fold over 400 Chambers and Trade Associations, and serving over 4.5 lakh members across India. ASSOCHAM has emerged as the fountainhead of Knowledge for Indian industry, which is all set to redefine the dynamics of growth and development in the Knowledge Based Economy. More information available on www.assocham.org
 
 
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