Radha Mohan Singh, Union Agriculture and Farmers Welfare Minister has said until the farmers of the country will be prosperous, the development of the country will not pave its way to the right direction. Therefore, agricultural growth is also necessary along with industrial development.
Singh was addressing at the eve of inauguration of 14th Commodity Future Summit organized by ASSOCHAM. “This is good indication for the agriculture arena of the country that ASSOCHAM is taking interest to revitalize agricultural sector by adopting sophisticated techniques so as to improve production in agricultural sector, he added.
Welcoming the statement of the Minsiter IFFCO MD Dr U S Awasthi tweeted” Very well said by @RadhamohanBJP that #agricultural growth is also necessary alongwith #industrial #development. Growth of #farmer is must.”
Experts believe a better developed future market meant for agricultural commodities will be significant for the farmers. It will facilitate them to obtain fair price of their products. With this system they will face lesser perils related to the ups and downs of prices.
The conference was meant for exchange views on the topic that how commodity futures market can be conducive for price related balance and perils. At present there are 22 registered markets in India.
India has granted recognition to three national level multi commodity exchanges. Out of them 1st multi commodity exchange of India (MCX) and 2nd National Commodity And Derivatives Exchange Limited (NCDEX) in Mumbai and 3rd named as National Multi Commodity Exchange India Limited (NMCE) is located in Ahmedabad.