ITC Ltd Chairman Sanjiv Puri said the agriculture sector reforms announced in May will encourage investments in food processing.

“It is heartening to see the reforms announced for the agri sector that provides livelihoods to about half of India’s work force. Amendments to the ECA, reforms in agricultural marketing and risk mitigation through predictable prices will empower farmers, strengthen agri-food processing linkages and enable demand-driven value added agriculture,” he said. “The reforms will encourage investments in food processing and together with the infrastructure outlays will contribute in shaping a competitive agri value chain, reduce wastages and raise farmer incomes,” Puri added.

On May 12, Prime Minister Narendra Modi announced a special economic and comprehensive package of Rs 20 lakh crore—equivalent to 10 per cent of India’s GDP.