India asks ADB not to disengage from agriculture sector

India on Monday bluntly told the Asian Development Bank that it is both premature and inappropriate for the institution to disengage itself from agriculture at a time when the escalating food prices across the world is hurting poor the most.

"Given the escalating food prices across the world, which hurt the poor the most, it is both premature and inappropriate for ADB to disengage from agriculture fully," India's Finance Minister P Chidambaram told the 41st meeting of the Bank in Madrid, Spain.

He noted that "it is well established that robust agriculture infrastructure can help prevent huge wastes which occur due to inappropriate handling, storage, transportation and marketing of agricultural produce."

Improvement in irrigation infrastructure, he added, is equally important for increasing food grain production.