Bangalore, Dec 2 (IANS) Karnataka attracted investment proposals of Rs.1.10 lakh crore (Rs.1.1 trillion) in agriculture and allied sectors at the first Agri-business and Food Processing summit held here for two days since Thursday.
‘We have signed 42 agreements with industry partners during the summit with a combined investment of Rs.1.10-lakh crore in agri-related projects, including Rs.35,488 crore for developing agri-infrastructure regions across the state,’ Chief Minister D.V. Sadananda Gowda said Friday.
Of the total, Rs.9,635 crore will be invested in food processing sector, Rs.3,845 crore in agriculture and horticulture engineering services, Rs.2,506 crore in the animal husbandry sector, Rs.1,575 crore in the fisheries sector and Rs.1,923 crore in setting up knowledge hubs in the state.
‘As infrastructure development is critical to nurture agriculture and agro-based industry, the state government will create an enabling environment to facilitate capacity building and technology upgradation by the industry partners for increasing productivity of various crops,’ Gowda said in his valedictory address on the concluding day of the summit at the Bangalore International Exhibition Centre on the city’s outskirts.
Noting that backward and forward linkages were essential for processing, value addition and packaging to market agri-based products, he said increasing mechanisation was the need of the hour.
‘Greater mechanisation will ensure better quality, higher productivity and support to farmers while the food processing industry will enhance the product value to serve consumers better,’ the chief minister asserted.
The state has also attracted investment proposals in sericulture, poultry, bee-keeping, fisheries and animal husbandry.
Allaying fears of farmer groups on investments by the private sector in agriculture and allied sectors, Gowda said the objective of the summit was to facilitate investments in providing linkages and bringing in technology for higher productivity.
‘As the government is committed to ensure sustainable development of agriculture and allied sectors and protect farmers from vagaries of nature and fluctuating prices, the proposed investments will facilitate hi-tech cultivation and mechanisation for higher returns to them,’ he asserted.
Referring to the new agriculture business development policy to attract investments in the sector, which accounts for 16 percent of the state’s gross domestic product, Gowda said countries the world over have shown that modernisation of agriculture, horticulture and animal husbandry maximised returns to farmers and other stakeholders in the food chain.
‘Latest technology and investments from experienced countries such as Australia, France, Israel and the Netherlands will go a long way in boosting the agro-based economy of the state and improve the living standards of our farmers and others involved in the allied sectors,’ the chief minister added.
