Besides supporting the state in horticulture, the two multinational giants have agreed to collaborate with the government in providing technological inputs to farmers, he said, but did not give further details.
Rao was speaking after inaugurating a global conference on agri-business here.
The government is planning to start agriculture processing units in the state to ensure better prices to farmers for their produce, the Minister said.
Cost of cultivation has increased significantly in the last one decade and the government's focus is to introduce modern technology to improve quality and boost productivity, he said.
"The government is committed to enhance productivity and profitability of agricultural products besides encouraging organic farming."
The government plans to recruit 6,500 officers for providing necessary guidance to farmers, Rao added.