India Eco summit: Pvt cos should raise farm sector investments

Private sector should take the initiative to bring in more investment into agriculture without waiting for government support, this was the broad agreement at a discussion on the farm sector here today.

Monsanto India Chairman Sekhar Natarajan said: "Farmers have to be benefited otherwise they will shift to other products." He was referring to how his company has grown in India along with the farmers while speaking at the India Economic summit, jointly organised by World Economic Forum and Confederation of Indian Industry (CII).

Citing the example of a Monsanto project in Gujarat, where the company is working with tribal farmers in partnership with an NGO and state government, he said, "Within three years the productivity of crops in that area has doubled and income rose by triple."

Natarajan also said such initiate should come from the private sector without waiting for government support.

Kushal Pal Singh, Vice President of the National Institute of Agriculture, said the organised retail is biased towards consumers' interests, as its objective is to provide the 'best product at cheapest price'.

"How can farmers get better price from such retail chains, when they talk about lowest price," he said.

Singh observed India needs agri business that would partner with farmers on a long-term basis.

Commenting on using resources like water more efficiently, Margaret Catley-Carlson of Sweden's Global Water Partnership (GWP) said, "There is no alternative to water, while other agricultural inputs can be created. So there must be more concern for water."

A few participants said the private sector does not take the risk to enter the agriculture sector due to low returns and over-regulation by the government.