CII upbeat about farm sector growth

Agriculture is bouncing back. With the rising private investment in the farm sector, the Confederation of Indian Industry (CII) feels the agriculture growth rate can be increased above the past 10 years average of two per cent.

To push reforms in the farm sector, a two-day "agriculture summit 2004" is being organised here tomorrow by the CII.

The meeting, to be inaugurated by Rajasthan Chief Minister Vasundhara Raje summit, will discuss agricultural marketing, retailing, wasteland development, risk management, farm extension, farm mechanisation and contract farming. Deputy Chairman of the Planning Commission KC Pant will also address the meeting.

The CII feels in coming years Indian agriculture will grow faster. But it will be unrealistic to expect a repeat of the last year's double-digit growth, despite the forecast of a normal monsoon, the chamber feels.

The meet will highlight specific success stories. It will provide a common platform to farmers, industry, financial institutions, commodity exchanges and policy makers.

YC Deveshwar, chief of the CII agriculture council and chairman of ITC, Joseph Massey, deputy managing director of the Multi Commodity Exchange of India Ltd, Vikram Puri, vice-president (business development) of Mahindra Shubh Labh Services Ltd, PK Agarwal, joint secretary and agriculture marketing adviser, the Union agriculture ministry, are also expected to address the summit.