India has to Increase Investments in Agriculture for Doubling Farm Income

It is high time that India makes significant investments for bringing in modernisation of agriculture as well as food processing if at all the country wants to double farmers’ income by 2022, German ambassador Martin Ney said on Monday. The German companies could help India immensely in transforming the agri-business in the country.

Ney said at an event on financing for agriculture that the doubling of farmers’ income is possible if sufficient investment is made in modernisation, diversification and high value addition in Indian agriculture. As many as 23 Indian companies have formed an alliance to partner with German companies to work together in the field of agri-business.

Presently, India and Germany have bilateral co-operation in food safety, seed development and agri education, he said, while highlighting that German companies have presence in Indian agriculture sector.

V N Kale, additional Commissioner in the Agriculture Ministry, Sami Khan of Rabo Equity Advisor, Sunil Kumar of Nabard, Dennis Verghese of Tata Capital and Nitin Puri of Yes Bank spoke about the financing in the agriculture sector.

By BOA Bureau