India seeks UAE investments in food processing sector

UAE continues to be India’s major trade partner in the Gulf region with current bilateral trade being about $60 billion – India’s third largest trading partner and second largest export destination The Dollar Business Bureau

India has tremendous potential in production of food items; grains, vegetables, fruits, and milk but has not been able to build adequate processing infrastructure

Pitching India’s food processing industry on the global stage, the Food Processing Minister Harsimrat Kaur Badal on Sunday exhorted foreign investors to take advantage of India’s supportive policy environment and invest in mega food parks, cold chains and various other food processing value chains. “India is a huge and promising market with 1.2 billion population, increasing purchasing power, adequate availability of raw materials, availability of young and skilled manpower and a number of fiscal incentives that are being offered by the Indian government for encouraging investments in this sector,” Badal said, after inaugurating the India Pavilion at GulFood 2016 in Dubai. The Indian Food Minister also highlighted Prime Minister Narendra Modi’s continuous efforts to improve ease of doing business in the country, which is aimed at giving foreign and domestic investors’ a conducive environment to set up their business in the huge Indian market. Badal underscored that the Indian food regulatory mechanism is undergoing a paradigm change as it is moving from license regime to registration regime, thereby ensuring ease of doing business in the country. “The government is committed to facilitating and encouraging investment in India in the food processing sector and providing an environment which is smooth, transparent and easy for investors wanting to start an enterprise in the country,” the minister said. The UAE continues to be India’s major trade partner in the Gulf region with current bilateral trade being about $60 billion – India’s third largest trading partner and second largest export destination. India has tremendous potential in the production of food items; grains, vegetables, fruits, and milk but has not been able to build adequate processing infrastructure. The UAE, on the other hand, has funds and technology to create facilities. Therefore, a close cooperation in the area of food processing would create a win-win situation for both the countries.

February 22, 2016 | 06:20pm IST

Related Topics:

The Dollar Business Bureau - Feb 22, 2016 12:55 IST

India seeks UAE investments in food processing sector

We like you just the way you are.