Agri package to help farmers, strengthen food processing linkages, stop wastages: ITC & Dabur

FMCG majors ITC and Dabur on Friday welcomed the third tranche of economic stimulus package worth Rs 1.63 lakh crore announced by the government for farm and allied sectors, saying it would empower farmers, strengthen agri-food processing linkages and enable demand-driven value added agriculture.

The investments in farm-gate infrastructure would help to reduce food wastage in the country and also ensure availability of quality local produce for food processing companies, besides generating employment.

"It is heartening to see the reforms announced for the agri sector that provides livelihoods to about half of India's workforce. Amendments to the ECA (Essential Commodities Act), reforms in agri marketing and risk mitigation through predictable prices will empower farmers, strengthen agri-food processing linkages and enable demand-driven value added agriculture," ITC Chairman Sanjiv Puri said in a statement.

He further said, "The reforms will encourage investments in food processing and together with the infrastructure outlays will contribute in shaping a competitive agri value chain, reduce wastages and raise farmer incomes.

Echoing views, home-grown FMCG firm Dabur said the support is aimed at empowering farmers and driving long-term growth through creation of infrastructure to support the agri-industry.

The investments in farm-gate infrastructure would go a long way in reducing food wastage in the country and also ensure availability of quality local produce for food processing companies, besides generating employment, Dabur India CEO Mohit Malhotra said.

Promoting cultivation of medicinal plants is a big positive and will help the ayurvedic products and medicines manufacturers by ensuring availability of key raw material, he added