Agriculture in India Can Become A Vibrant Sector: S. Delegation

WASHINGTON: Stating that agriculture in India has tremendous potential of being transformed into a vibrant sector, a delegation of US companies, which recently visited New Delhi, has called for necessary policy reforms to enhance foreign direct investment in the food processing sector.

The two-day mission, undertaken by the US India Business Council (USIBC), focused on ways to increase investment in food processing and improve food security in India, and ways that industry in both the US and India can work with the central and state governments to achieve mutually beneficially solutions in the food and agriculture sector, a media release said.

"As India charts its growth journey, agriculture has tremendous potential of being transformed into a vibrant sector contributing to millions of our farmers and to the economy," Shilpa Divekar Nirula, CEO of Monsanto India Region, said after conclusion of a Food and Agriculture Executive Mission to India.

The mission, co-led by Nirula and Siraj Chaudhry, discussed policies that India could pursue that would enhance foreign investment in the food processing sector, food safety and security, foster innovation, boost the competitiveness of local industry, and increase the speed at which new products are introduced to market.

"The council's food and agriculture member-companies represent every aspect of the farm-to-market supply chain, which affirms the US industry's position as a collaborator with shared interests in advancing India's agriculture economy and food industry," said Chaudhry,chairman of Cargill Foods India.

"Through this mission, and through our work in both the US and India, our efforts are focused on enhancing bilateral commercial relations and engaging in a regular dialogue on the topic of agricultural productivity and food security in India," he said.

The delegates held meetings with Minister of Food Processing Industries Harsimrat Kaur Badal and Secretary of the Department of Industrial Policy & Promotion Amitabh Kant.

The delegation also had discussions with the Food Safety and Standards Authority of India (FSSAI), presenting FSSAI CEO Y S Malik with a plan for a capacity building program to make the agency more efficient and effective in its mission.

In a statement, Rana Kapoor, managing director, CEO and co-founder of Yes BankBSE -1.22 % said government's proposal to set up a unified national market for agri-commodities, in close coordination with NITI Aayog and state governments will promote seamless movement of produce from farm to fork, accelerate growth of the sector and ensure food and nutritional security for all Indians.

"India's economy is predominantly agrarian, with agriculture and allied sectors contributing 18.2 per cent to our GDP (FY 2013-14). Growth in high value agriculture, increased farm productivity and enhanced investments will further boost the sector's contribution," he said.

READ ALSO: Andhra's Vijayawada To Host World Coconut Day 2015
Centre Unveils List Of 98 Smart Cities: All You Need To Know