June 12, 2007
World Bank to Help India
in Food Processing
New Delhi
The World Bank is giving priority to the food processing sector in
India and is ready to extend support for building a supply chain,
Food Processing Minister Subodh Kant Sahay said Wednesday.
"The World Bank has shown interest in encouraging food processing in
this country and is willing to give all assistance to build up a
supply network and other infrastructure for boosting it," Sahay told
reporters here after a 10-day visit to the US.
"There is immense interest for investment in the sector in India.
Further follow up action will be taken by the ministry with
individual companies and investors to concretise their intent for
investment in this sector."
He said during his one-to-one meetings with potential American
investors in the food processing industry, they evinced keen
interest in starting business operations in India.
The minister said that in Los Angeles, the Kenpo Group of companies
expressed interest in setting up mega food parks in India while
Amy's Foods, a San Francisco-based organic and packaged food
services company, expressed their intention to set up and start
operations in India.
Sahay said Melissa, a Los Angeles-based company that is into food
retailing and marketing and is the principal supplier of Indian
mangoes to the US, is keen on entering the country for sourcing its
supplies and setting up India operations.
Another leading American company, Dole, which operates in 19
countries, building cold chains and supply chains and is a supplier
of processed food, indicated their intent to enter India and start
business operations, he said.
American companies evincing interest in food processing assumes
significance as it has been identified by the Indian government as a
priority sector. The Vision Document of the government provides for
an investment of about Rs.1 trillion in the sector of which Rs.100
billion only is to come from the Government.
"There is need for larger private investment to establish adequate
infrastructure facilities and supply chains for the food processing
sector," Sahay said.
"There is need for farmers to link to the market and they should
start producing raw material for use by the industry so that they
are benefited with long-term economic sustainability."
Boloji.com is owned and managed by Boloji Media Inc Privacy Policy |
Disclaimer
No part of this Internet site may
be reproduced without prior written permission of the copyright holder.
