"We have the major proposal of establishing 17 lakh metric tons of new storage facility within a period of five years," said Thomas.
The proposals were given by the delegation, which included representatives from companies that produce silo bags and grain loaders.
The Argentine delegation had earlier visited Punjab and Haryana.
Thomas said the plans are being made to increase the storage capacity by 2012.
"At least 50 percent of the capacity we feel can be done by 2011 December, the rest by 2012. So, we will be able to improve our storage capacity with modern technology step by step," said Thomas.