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Despite GDP declining in pandemic, agri sector proved to be silver lining

"agriculture sector growth to be a silver lining"

Despite the country’s Gross Domestic Product (GDP) declining during the pandemic, the agricultural sector grew by 3% as the country’s lockdowns exempted the primary sector.

Agriculture expansion proved to be a silver lining. According to S Siva Kumar, Group Head (Agri and IT Businesses) of ITC, agricultural unlocking has been beneficial to the country.

Also Read: ITC partnered with Karnataka Govt for 10 lakh acres and 100 watersheds

He made this remark while participating in a panel discussion on Agriculture was the silver lining in Covid times, how we transform to golden opportunity on Thursday at the Agri-Business Summit and Agri Awards ABSA 2021 here.

‘The government’s reformed agricultural laws. Investments began to pour in. Despite other sectors shrinking, innovations and digital technologies have contributed significantly to the growth of the farming sector,’ he said.

Awards for Lifetime Achievement

The ABSA Lifetime Achievement Awards were presented to U S Awasthi, Managing Director of Indian Farmers Fertiliser Cooperative (IFFCO), and Deepak Shah, Chairman and Managing Director of Sulphur Mills, during the summit, according to a statement.

Telangana state’s Agriculture Minister Mr. Singireddy Niranjan Reddy stated in his message that farmers needed innovative products and cultivation methods to increase yields.

Also Read: FY 2021-22 will recover from Covid-19 with ‘V’ shaped graph – FM

He stated that the government was encouraging the establishment of food processing zones and invited industries to invest in the state in order to establish their units in the upcoming food processing zones.