India’s Farm Sector Growth May Reach 3.1 percent in Current Fiscal: NITI Ayog

2^nd National Conference on “Food Value Chain Partnerships: End to End Approach” conducted jointly by ASSOCHAM (The Associated Chambers of Commerce and Industry of India) and MOFPI (Ministry of Food Processing Industries) was held on 16th January at ‘The Park’ hotel in New Delhi. The conference which was attended by around 200 delegates and Agri-professionals highlighted the importance of the food value chain for sustainable development of the Indian agriculture scenario.

India’s farm sector growth for the current fiscal is expected to remain higher at 3.1 percent compared to 2.9 percent in FY19, said Prof Ramesh Chand, NITI Aayog Member during his inaugural address in the event.

“Role of the private sector in the 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 the active involvement of private sector. Unless we increase the corporate sector’s investment and involve them from seed and continuing it up to the sale, it would be difficult to cause a breakthrough in the growth of agriculture and doubling farmers’ income”, he added.

Moreover, 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 the future. Agriculture is coming back into the development agenda. The food value chain is one very-very important element for the economic development of emerging economies.”

Stressing on wastage management, 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.”

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.