Indian PM Modi says new farm laws to benefit farmers

NEW DELHI -- The recently enacted three new farm laws will bring in more investments in the agriculture sector and benefit farmers to a great extent, Indian Prime Minister Narendra Modi said on Saturday.

He said his government was committed to taking care of the farmers' interests.

"The cold storage infrastructure will be modernised. This will result in more investments in the agriculture sector. Farmers will be benefited the most out of it," Modi said while addressing the Federation of Indian Chambers of Commerce and Industry.

The remarks came on the day when farmers across the country were protesting against the three new farm laws by blocking major highways connecting Delhi with cities in other states.

Saturday was the 17th day of the farmers protests.

"We had seen walls between agriculture sector & other areas associated with it - be it agriculture infrastructure, food processing, storage or cold chain. All walls & obstacles are being removed now. After reforms, farmers will get new markets, options & more benefits of technology," said Modi.

According to him, all the walls between the agriculture sector and associated sectors have now been removed as the recent farm reforms will give farmers "new markets, access to technology" and help bring investments in agriculture that will benefit them.

The three farm laws passed by the country's Parliament are the Farmers' Produce Trade and Commerce (Promotion and Facilitation) Act 2020, the Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Act 2020, and the Essential Commodities (Amendment) Act 2020.

Farmers have been camping at inter-state borders around Delhi for over two weeks after being stopped by the Delhi Police from entering the national capital.

Presently the federal and state governments procure agriculture products from the farmers at the Minimum Support Price fixed every year.

One of main grudges of the farming community is that the three new farm laws would "promote" private companies which will ultimately "exploit" farmers by procuring their agriculture produce at a price below the MSP.