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BL Agri& Commodity Summit 2024: Private investments in agriculture must increase five-fold, urges CACP Chairman
CACP Chairman Vijay Paul Sharma
Dr.G.R.Balakrishnan Jan 06 2024 Logistics News (Roadways & Railways)

BL Agri& Commodity Summit 2024: Private investments in agriculture must increase five-fold, urges CACP Chairman

Commission for Agricultural Costs and Prices Chairman Vijay Paul Sharma gave a clarion call to increase private investments in the agriculture sector five times by 2030, while urging farmers to look at opportunities beyond food.

Inaugurating businessline Agriculture and Commodity Summit 2024 in New Delhi on Friday, 5 Jan, he said, “I don’t think any sector can grow with private sector investment of just 2 per cent. We must take this private investment to 5 or 10 per cent.”

Stating that farmers must look to tap opportunities, Sharma said they should look at meeting industrial needs such as ethanol through maize and other crops.

In his special address, Shantanu Pendsey, Chief General Manager, SBI, said …

a 10 per cent increase in formal credit can lead to at least a 1 per cent increase in agri contribution to overall GDP.

In his valedictory address, Ajay Kumar Sood, Deputy Managing Director, NABARD, said it would be important to invest in productivity-enhancing agriculture practices…

Raghuvir Srinivasan, Editor, businessline, highlighted that Indian agriculture, which is a critical sector for the economy, accounting for a fifth of GDP, is now at a crossroads with a lack of funds hampering farmers…

 

The summit was sponsored by State Bank of India and co-powered by NABARD in association with  NCDEX and INDOFIL Industries Ltd. DhanukaAgritech Ltd. and KribhcoAgri Business are associate partners. The NSE and Vaikunth Mehta National Institute of Co­ operative Management were the regional sponsors of the Summit.