Globalisation and liberalisation were not a mere economic and financial phenomenon and had now become an irreversible process, he said after inaugurating a two-day workshop on `Globalisation of agriculture: R and D In India' at the Kerala Agriculture University near here.

The slump in prices was only a temporary phenomenon and it would be overcome when the world trade body became fully operational, he said at the workshop organised by the National Academy of Agricultural Sciences (NASS).

Stating that globalisation had wide political and cultural ramifications, he said in the final analysis it was expected to result in one government, one law, one currency etc.

Unlimited opportunities would be available due to globalisation, he said adding both developed and developing countries had to carry out the reforms to create the right environment so that globalisation moved forward smoothly.

Mr Paroda said a large scale investment in research and development for agriculture was inevitable for equipping Indian agriculture to meet the challenges posed by the WTO.

Stressing the need for diversification of agricultural production and application of modern technology to reduce the cost of production and increase efficiency, he said it was also necessary to diversify the regionalisation of agricultural commodities.

Mr Paroda said the country never thought of producing high yielding wheat `as our priority was to feed our people and hence our wheat is not the quality of international standards.'

`In order to take the advantage of globalisation we have to increase our productivity, demand better precision farming and mechanisation,' he said.

The importance of agriculture, particularly the multitude of small and marginal farmers, who mainly represent the sector, should be kept in view while pursuing the process of globalisation, he added.

(PTI)