The three Agriculture bills will enable barrier-free agricultural trade and significantly enhance farmer’s income: PHD Chamber

No.PR-257 September 18, 2020 New Delhi The three Agriculture bills will enable barrier-free agricultural trade and significantly enhance farmer’s income: PHD Chamber While appreciating the historic move of introducing the three Agriculture bills introduced in Lok Sabha recently by the Government led by Hon’ble Prime Minsiter Shri Narendra Modi ji, Dr D K Aggarwal, President, PHD Chamber of Commerce and Industry, said that the three farm bills will enable barrier-free agricultural trade and significantly enhance farmers’ income. Ensuring a highest level of farmers’ welfare has been at the core of the reforms agenda of the Modi Government, said Dr Aggarwal. The three bills namely; the Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020, the Farmers (Empowerment and Protection) Agreement of Price Assurance and Farm Services Bill, 2020 and the Essential Commodities (Amendment) Bill, 2020 will boost agricultural production, promote healthy competition, fetch better prices for farmers’ produce, remove middlemen & related bottlenecks and significantly liberalize the agriculture sector in the coming times, said Dr D K Aggarwal. Removal of commodities such as cereals, pulses, oilseeds, edible oils, onion and potatoes from the list of essential commodities under the Essential Commodities (Amendment) Bill, 2020 will increase private investments in cold storage and remove the supply side bottlenecks at better prices for the farmers. The three legislations will help farmers to harness economies of scale, improve agriculture and logistics infrastructure, attract foreign direct investments along with private investments & new technologies and build resilient supply chains for supply of Indian farm produce to domestic as well international markets, added Dr Aggarwal. Over the years, India has emerged as a key supplier of food products and has the potential to serve as a factory to world. Even during the difficult time of pandemic COVID-19 lockdown, the country thrived to ensure the continuity of world food supply chains and remained open to export agricultural commodities. The three bills will help in boosting India’s agri & food processing exports from the current level of USD 40 billion to USD 100 in the next five years and enhance the sector’s competitiveness globally, said Dr D K Aggarwal. Ends Media Division PHD Chamber of Commerce and Industry