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Budget Expectation from Food processing industry - Mr. Rajesh R. Gandhi - MD, Vadilal Industries Ltd

Posted On : 2014-07-08 21:15:28( TIMEZONE : IST )

Budget Expectation from Food processing industry - Mr. Rajesh R. Gandhi - MD, Vadilal Industries Ltd

Mr. Rajesh R. Gandhi - MD, Vadilal Industries Ltd

Food processing Industry indirectly supports development of Agriculture growth & farmers. Food processing industry acts as buffer while there is short & surplus in Agro production. And hence, encourage food processing, which is very low in India as compared to rest of the world.

1) All excise & custom duty be abolished on food processing, cold chain & all equipments connected to manufacturing, sales & marketing

2) All taxes which could be excise, service tax & vat on process food products be brought to minimum level, which are highest in many cases

3) India is facing high inflation of prices, hence to control some of the Agri & Dairy commodity, import of dairy products be allowed at lower custom duty, which currently is being charges higher custom duty or is being banned to import or channelized. To free import of dairy products; which will help control inflation & also will bring awareness on productivity & cost control in dairy sector. Fine balance to be maintained between farmer's increase cost of input Vs consumer increasing inflation from dairy products

4) Improve support to exports of process food products through various measures which includes subsidies etc. Most of develop world support subsidies to export of agro & food processing through variety of direct & indirect subsidies

5) Food processing industry badly affected due to poor availability of power. Growth of industry is not coming due to scarcity, hence power availability to improve, which will help over all to all round development of Indian Industry

6) Investment in cold storage should be encouraged by way of subsidy as well as no duty on electricity consumption. This will help food processing to grow and also control the inflation because huge amount of vegetables/fruits are wasted due non-availability of storage facility nearby so as a result, shifting from one location to another location, lots of vegetable / fruits are getting damaged and affect the quality so finally getting wasted

Shares of VADILAL INDUSTRIES LTD.-$ was last trading in BSE at Rs.206.05 as compared to the previous close of Rs. 215.45. The total number of shares traded during the day was 7562 in over 559 trades.

The stock hit an intraday high of Rs. 213.2 and intraday low of 202.75. The net turnover during the day was Rs. 1577163.

Source : Equity Bulls