There had been enormous scope for the growth in agriculture sector in our country and if the potential was properly used, we could boost the economic growth of the country substantially in the coming years, said G. Chandrashekar of The Hindu Business Line .

Speaking at the seminar on agribusiness and commodities price risk management organised jointly by The Hindu Business Line , Forward Market Commission, National Commodities Derivatives Exchange (NCDEX), Federation of Chamber of Commerce, Bangalore, and Davangere District Chamber of Commerce and Industry here recently, Chandrashekar said that though India was the highest producer of milk, and second highest producer of wheat, rice, sugar, cotton and vegetables in the world, the Indian policy makers have failed to make use this achievements to link it with the economic growth of the country.

“Though we are the highest producer of milk and second highest producer of wheat, rice sugar, cotton and vegetables in the world, per capita availability is very low,” he said.

Population explosion

Expressing concern over not attaining the expected economic development owing to population explosion and decrease in export of commodities, he said that the country has at present 120 crore population and another two crore population would be added in another two years. He said, “We are adding one Australia in our country every year with regard to population.”

Chandrashekar said that there had been considerable increase in quantity of imports than exports and substantial reduction in investment were some of the factors resulted for Country not achieving expected economic growth. He said that countries like China, America which have limited population and which have exporting huge commodities, have achieved economical stability.

China has 3 dill ion dollars of foreign exchange which is more than eight times of India, he said adding that we have a vast natural resources and man power apart from intellectual power and we should make use of all these to stay ahead of other countries.

Young population

More than 53 per cent of our population is below 25 years and one third of our population is below 15 years, he said, adding that it was high time we have to make use of our youth force to achieve all round development of the country. Demand for Housing would continue to be there for atleast next 30 years, he said adding that at present we have five crore dwelling units short in our country.

He said that Indian market gradually integrating with global market and hence stake holders must have a global view of market. Because of price volatile, risk perception is heightened. Price discovery of commodity, price risk management, price risk or insurance against adverse price movement and locks in profit margin were some of the crucial aspects one need to have wide knowledge in the present global market, he said.

Bank aid

Deputy General Manager Canara Bank B. Jayarama Reddy in his address said that Canara Bank is giving preference to farmers in distribution of farm loans and crop loans. He said that the bank would provide financial assistance to farmers in installing pump sets, minor irrigation and lift irrigation apart from taking up dairying, piggery, sheep-goat rearing, duck rearing, bee keeping, to set up biogas plant, tissue culture, sericulture, and for farm mechanisation and commercial horticulture cultivation.

He appealed to farmers to make use of the loan facility and attain economic stability for themselves and to the country indirectly.

T. Bhanu, senior journalist, addressed the gathering.

Kasal S Vittal, president of the Chamber, inaugurated the seminar. Shambulingappa, secretary of the chamber of commerce, also spoke on the occasion.

After the function, Chandrashekar answered a volley of questions from the audience during the interactive session.

comment COMMENT NOW