He said that the countrys agricultural sector was poised for a significant growth through exports, as the World Trade Organisations norms regarding reduction in agriculture subsidies and other forms of government support would come into force in 2005. This would open up the agriculture markets across the globe. Money said the strengthening of links between different government agencies would give a boost to exports from the farm sector.
The agriculture sector contributes to around one-third of Indias gross domestic product. India is one of the largest producer of fruits and vegetables in the world, accounting for around 9% of global output.
Money highlighted some of the weaknesses in the domestic agricultural sector like credit availability, lack of proper post-harvest practices, gradation facilities, skilled manpower etc.
Lack of proper information dissemination agencies aggravates the problem of understanding the market in respect of size, requirements of consumers and location, he said. Money also stressed the importance of marketing and branding the commodities to gain an competitive advantage in the international markets.