Contrast the role of private corporate sector vis-à-vis public sector in their respective share of investment in Indian Agriculture.
Agriculture sector has been nurtured and fostered by the Government of India throughout the ages. The innovations and development in the agricultural sector such as green revolution have been powered by the public sector. It has been a state dependent enterprise since independence. The provision of minimum support price, the procurement of crop and the subsidies provided to the farmers are a few among the investments state makes in the agricultural sector.
Even though the private players came in to the picture since 20th century and have been holding an important role in the development of sector, much can be done in the private sector investment front to alleviate the state of the farmers and the agriculture sector in the country. Figures show that, the corporate sector investments account to only 2% of the annual investments in contrast to the 18.6% contribution of the government. The rest of 79.4% is bore by farmers(which is counted as private investment as well).
Private investment in the sector should grow from the meagre 2%. The foreign firms like Mccain, Cargill, Hindustan lever and Pepsi Co. which are already involved in the agriculture sector on various levels, need to increase their share of contribution.
The collaboration of farmers and other agriculture related industries with the private giants in various fields ranging from agrochemicals to farm machinery production gives great yields. Innovation should be encouraged with the supply of required resources from the private investments.
Private sector have the resources and potential which can help agriculture in India move to a next level of development.
Contrast the role of private corporate sector vis-à-vis public sector in their respective share of investment in Indian Agriculture. [Business Standard]
Published: December 27, 2017 | Modified:June 27, 2019