December 28, 2010 10:41 AM

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Sahay calls upon industrialists to invest in agri-business<br/>

Union Food Processing Minister Subodh Kant Sahay has called upon industrialists to invest in the agri-business. Mr Sahay, who was addressing the AGM of the Merchants Chamber of Commerce in Kolkata on Monday evening, said most farmers were lacking funds to reinvest in their land. He said, the time has come when industries should set aside five per cent of their land for agricultural activities to have a parallel agri-business with focus on post-harvest investment. He said, the Planning Commission has not allocated enough funds for post-harvest technology. Mr Sahay said, while there is a budgetary allocation of 40,000 crore rupees in the Agriculture sector, the post-harvest allocation does not even reach a four digit figure. Stating that there was huge potential in processed food business, he said that Agri-produce Marketing Act in West Bengal was coming in the way of investments in the food retail sector. He also said that the West Bengal government has not succeeded in setting up land banks demarcating industrial and agricultural land.

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