Tomar Highlights Importance of Increasing Private Investment in Agricultural Sector

Union Agriculture Minister Narendra Singh Tomar emphasised the importance of increasing private investment in the agricultural sector on Friday, and urged entrepreneurs to establish food processing units.

According to an official statement, the minister was speaking via video conference at a summit on Agriculture & Food Processing Opportunities in Madhya Pradesh, which was organised by the Ministry of Food Processing in collaboration with ASSOCHAM and Invest India.

Tomar, who is also the Minister of Food Processing, urged entrepreneurs to set up food processing plants in the region, assuring them that the government will assist them in every way possible. He said that the government is approving food processing projects quickly.

'The Union minister also emphasized the importance of attracting private investment and cutting-edge technologies in the field of agriculture,' said the statement.

According to Tomar, the government is working hard to raise the profits of small farmers. The minister said that 86 percent of farmers in the country are small farmers, and that village self-sufficiency and agriculture sector development cannot be envisioned without their empowerment.

Tomar said that the central government is working to ensure that small and medium farmers have access to expensive crops and can benefit from agro-technology to grow crops that meet international quality standards.

A total of Rs 1 lakh crore has been set aside for agricultural infrastructure as part of the Aatmanirbhar Bharat Package, which will help bring infrastructure such as cold storage and warehouses to villages.

He went on to say that the central government is spending Rs 6,865 crore to set up 10,000 new farmer producer organisations (FPOs) throughout the country. By entering FPOs, farmers will benefit from lower prices, a better demand, and an advanced irrigation system. FPOs will get a 3% interest rate reduction on loans.