Subodh Kant calls for private investment in food processing sector

Shri Subodh Kant Sahai has called for private investment in Food Processing Sector. Inaugurating Cold-Chain Summit-2007 here today, the Minister of State for Food Processing Industries said that with the changing lifestyles and work culture of people, there has been an increasing demand for processed foods in the country. Shri Sahai stated that this sector has become not only a huge business opportunity for the investors to get higher returns but also a major employer. Stating that supply chain is crucial for this sector, the minister called for clusterised and demand driven farming. He urged the Confederation of Indian Industry, CII to identify cluster areas for farming and indicate routes for setting up processed food businesses in the north, south, east and western parts of the country. Shri Subodh Kant Sahai asked the CII to provide suggestions on taxation front as the food processing industry attracts more taxation. He called up on the gathering to make 2007-08 as the year of Food Technology to bring about revolution in Food Processing Sector.

Speaking on the occasion, the Secretary, Agriculture and Cooperation, Dr. PK Misra said that cold chain is essential for the farmers to maintain quality of their produce from realization to delivery and provides tremendous opportunity for the private and corporate sector to go to new area of investment. He stated that storage of agricultural produce remains a big challenge in rural areas because of limitation of electrical power supply. Cost effectiveness and sustainability of the cold chain are to be addressed.

The two-day Cold Chain Summit-2007 is to discuss issues to set up cold chain infrastructure for value creation and rural entrepreneurship in horticulture.

Source : Press Information Bureau

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