Big corporate houses line up investment plans in Punjab

New Delhi, Apr 9 (UNI) Major business houses including Reliance, ITC and Bharti have lined up investment plans to promote agro-processing business in Punjab.

''ITC now joins Reliance Industries Ltd (RIL) and the Bharti (Airtel) Group, to promote agro-processing business focusing on Punjab farmers innvoative and enterprising skills, which would provide synergies to both the State and these companies in moving agro-processing business away from its existing unorganised format towards modern hi-tech and high value agriculture,'' Punjab Chief Minister Capt Amrinder Singh said.

Bharti, Reliance and ITC Groups have evinced keen interest in the diversification of agriculture in Punjab, he added.

Unfolding a road map to identify the potential of agro-processing and contract farming in the state, Captain Singh said, ''Over seven lakh acres of land had been brought under contract farming encompassing one lakh farmer families. It was proposed to cover more than 3.60 lakh acres under the diversification programme during 2006-07.'' The state government has set up four Special Purpose Vehicles to focus on the development of citrus and fruit juices, value-added horticulture, viticulture and organic farming, he said here yesterday while presiding over the meeting of Working Group of the sub-Committee of the National Development Council on Agriculture and Related Issues on Marketing Reforms, Contract Farming and Agro-processing Sector.

The Chief Minister asked the agri-experts, economists and policy makers to chalk out a multi-pronged strategy to diversify agriculture besides conserving the natural resources to make it more sustainable and remunerative thereby substantially benefiting small and marginal farmers.

Capt singh constituted three sub groups to work out the modalities for market reforms, agro-processing and contract farming within the ambit of terms of reference of the working group and directed these groups to come up with recommendations in the next meeting by the end of May, to enable the working group of the sub committee to submit its interim report by June and the final report by September 30.

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