Bangalore  : Karnataka Chief Minister D V Sadananda Gowda has said the first Global Agribusiness and Food Processing summit organised by the state government has attracted investment proposals to the tune of Rs 1.10 lakh crore.

Speaking at the valedictory function of the two-day meet here yesterday, Mr Gowda said the government has signed 42 MoUs with both international and national majors.

“This is a great step forward to ensure mutual benefits to the enterprises as well as to the farmers in my state,” he said.

Mr Gowda said two days of successful deliberations and discussions revolved around Agriculture Infrastructure sector, Horticulture, Fisheries, Sericulture, Animal Husbandry and Food Processing.

Talking about apprehensions that the farmer groups have expressed with regard to holding agri-business summit, Mr Gowda said, “The focus that the summit brought is to providing effective linkages and upgraded technology for the farmers to move towards higher production and productivity.” Mr Gowda said interventions discussed in this summit will go a long way in improving the productivity of the land, generating employment, enhancing exports, improving economic conditions of the farmers and entrepreneurs, and above all providing nutritional security to the people.

In order to nurture both agriculture as well as agro-based industry, it is important to develop agri infrastructure in the State. This facilitates access, capacity building and technology up gradation to boost the agri and related sectors’ growth for an integrated development, he added.

The summit was an effort to bring in inclusive development by firming meaningful partnerships between the farmers and the agro-based industries, Mr Gowda added.