Ad Here  
September
October
November
December
January
February
 
 
M & M unveils driverless technology for tractors Are they really independent? When small is not so beautiful… Carnival Films acquiring 3000 screens pan India TN government keen on revival of operations at Nokia complex PPP model for infrastructure development L&T bags the Mumbai Trans-harbour link order Chinese smart phones flourish in small towns too! A welcome initiative-even critics are recognised Wabco launches safety system Dish TV – subscriber additions encouraging Daimler grows sales and share in India Tata Steel, ThyssenKrupp sign MoU to merge European units TI Cycles plans retail expansion to drive sales for premium bicycles Preparing for the next growth curve Last stages Forging industry worried over lower supply of steel and its price He excels in the nuts and bolts of entrepreneurship Ode to Ratan Tata Smooth sailing of SAIL ITC – steep excise hike TVS Srichakra plans capacity expansion Bajaj Finserv – Q1: fare well Hyundai India achieves 7 mn production at Chennai factory AL introduces Guru & Partner Rane targets Rs.5500 crore topline by 2018-19 V-Guard launches app-enabled water heater system L & T set bigger ambitions in defence business 29 per cent jump in TCS revenues Tata Motors aims to be among the Top 3 global CV & PV firm Hindalco – re-rating PSU non-life firms seek to protect share It takes two to tango Is this a generation gap? Consolidating leadership position in smartphones AL wins Deming prize again CAPITAL NOTES Vellayan is back, after 150 days IOB on turnaround path HPCL plans Rs.61,000 crore capex over 5-years A niche in FMCG business... Increasing market share From the toughest to the best year Titan Company – sales recovery to kick in ITC chairman calls for policy impetus to transform agriculture AL secures orders for 3600 buses Aurobindo Pharmacy: good turnaround Hyundai to focus on SUVs and AMT variants Back in growth mode Nissan exit shouldn’t affect ALL Toyota and Suzuki to introduce EVs in India by 2020 Right to privacy – now it’s fundamental! Tata Motors charts investments in PV and CV businesses Sundram Fasteners rejigs international New India Assurance posts impressive show RoC in the dock... Tata gets 4-star rating for Zest Singur minus Nano – victory or folly? Record two-wheeler sales Ponni Sugars (Erode) Ltd: not so sweet 2012-13 LVB posts 31 per cent growth in Q1 net profit Emami – a new growth mantra E.I.D Parry (India) Ltd: another sweet year The gainers and the losers Housing demand revival Michelin to double Chennai capacity Tata Motors bets on new launches Smartphone onslaught by Chinese brands TVS Automobile invests Rs.75 crore in start-up firms Welcome focus to improve rural India... L & T’s floating dock for navy Maruti – for young buyers Gamesa to set up a plant in Nellore Yamaha unveils scooter boutique Tata Motors joins compact SUV bandwagon with Nexon Mercedes-Benz sales continue to zoom Land wars Eyes strong growth in 2016-17 L&T profit up by 11 per cent Shriram Life clocks more than Rs.1000 crore premium in 2015-16 Kone India eyes further growth in elevator market Daimler’s truck exports from Chennai cross 5000 units Sivasankaran enters taxi space to take on Uber and Ola The unexpected exit Solar installations exceed 2015 capacity in five months
 
ITC chairman calls for policy impetus to transform agriculture

Given the tremendous potential of the food processing industry to transform the future of the agricultural sector and create jobs, it is critical that this sector is allowed to grow faster with strong policy impetus, felt Y C Deveshwar, Chairman of ITC.

The tax incidence on food processing must be viewed from the perspective that it adds tremendous value to farmers and helps in ameliorating huge agri-wastages. A conducive taxation regime for the processed food industry will be crucial to multiplying farmer and rural incomes, besides creating large-scale jobs at the intersection of agriculture and industry, he said while addressing company’s 106th Annual General Meeting.

India’s colossal agri-wastage is estimated at Rs.92,000 crore. A large part of this wastage is in perishables. The increasing consumer demand for fruits, vegetables and other perishables can benefit farmers, given the higher remuneration in these value-added categories.

In addition, a higher level of food processing in the economy can create a much larger pull for quality agri-commodities, thereby reducing farm wastages and raising farm incomes. This calls for investment in product-specific climate-controlled infrastructure as well as branded products that can win consumer franchise. In addition to crop expansion, diversification into off-farm activities such as animal husbandry and livestock can also supplement farmer incomes. Corporate participation is essential not only to invest in requisite infrastructure but also to provide assured and value-added markets to farmers.

Deveshwar felt that the corporate sector could add a unique dimension, given the power of private entrepreneurship, its capacity to innovate, its wide variety of skill sets as well as its ability to reach markets more efficiently. “A larger degree of corporate involvement in agriculture is also imperative given the changing context of the food and agricultural sector,” he added.

He said ITC has invested in a globally benchmarked Life Sciences & Technology Centre in Bengaluru. With 350 scientists, the Centre is helping shape a new future in agri-sciences and biosciences, contributing to value addition in the agricultural sector.

Highlighting company’s performance, he said ITC’s gross revenues crossed the Rs.55, 000 crore mark and profit Before Tax surpassed the Rs 15,000 crore level in 2016-17. The non-cigarette segments now account for 58 per cent of the net segment revenue, has grown 18-fold since 1996. Presently, the non-cigarette businesses deploy 77 per cent of company’s operating capital and 88 per cent of the employee base, reflecting the radically transformed character of ITC, he said.


Author :
Reported On :
Sector :
Shoulder :
RELATED NEWS
ABOUT IE
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
 
PRIVACY POLICY
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
TERMS AND CONDITIONS
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
 
CONTACT US
S-15, Industrial Estate,
Guindy,
Chennai - 600 032.
PHONE: +91 44 22501236
EMAIL: indecom1968@gmail.com