Indian Prime Minister Narendra Modi said on Friday that his government has decided to repeal three controversial farm laws that drew widespread protests.

"We will complete the process of the repealing all the three farm laws in the forthcoming winter session of the parliament later this month," Modi said during a televised address to the nation.

Thousands of farmers, mainly from northern states like Punjab, Haryana, Uttar Pradesh and Rajasthan, have been protesting against the three laws for almost a year. 

"I appeal to all the farmers who are part of the protest... to now return to your home, to your loved ones, to your farms, and family," Modi said. "Let's make a fresh start and move forward."

His announcement came on the day of a Sikh festival "Prakash Parv" (festival of lights), celebrated on a grand scale by the Sikh community.

Modi's government introduced the laws last September and said the reforms would help fix a sector that it says is massively inefficient.

But farmers said the laws will allow the entry of private players in farming and that will hurt their income. 

About two-thirds of India's 1.3 billion population draw their livelihood from farming.

Read more:

India Farm Laws: Good or Bad? Are farmers' protest justified?

(With input from agencies)