It Is Very Good Start For The Event, Says Harsimrat Kaur Badal
India is riding on the opportunities that ask every investor to try his luck here, during the session which termed India as the preferred investment destination for the world’s food processing industry experts, this was the crux that came out from each dimension.
As one the fastest growing major economies, India has now emerged as the most attractive investment destination globally, says the panel on the chorus. In recent times, the agricultural input industry has seen major consolidations influencing the industry globally and Indian companies need to further expand their product portfolio to tackle the global competition.
Speaking on the occasion, Ramesh Abhishek, the Secretary of industrial policy promotion said, ‘Earlier it took trade fraternity to register in India with all sorts of licensing requirements and now it is just one day that you need all of such tasks to get done’. As expected the entire session started applauding on this statement. Continuing with the spree Abhishek said, ‘It is now our efforts to communicate the development and the changes that had started paying off’, it is the push effect of the government that has actually made changes on the ground.
An important perspective is the post-harvest technology and how the food processing will work to change the entire investment shape. It was the much-addressed issue by the participants and while BW Businessworld asked finance minister Arun Jaitley about his predictions of how much is expected from this mega event, he denied commenting on it, indicating it a little early to comment. Speaking with BW Businessworld, Harsimrat Kaur Badal, the minister of food processing has said that it is a very good start for an event and she is expecting very good responses.
Post-harvest is perspective which had been focussed upon by PM also and it really has a huge potential of opportunities. Investment aspect of the agricultural value chain is the post-harvest phase which currently in India is plagued by a gap of about 35 million tonnes, Head of the Danfoss A/S, Kim Fausing had iterated the need of it while responding to a question by CEO of Niti Aayog. There is thus, a need to develop a strong warehousing system equipped with modern and scientific storage facilities. Agricultural warehousing accounts for 15 percent of the warehousing market in India and is estimated to be worth Rs 8,500 crore. In the view of benefiting from the available space in the market, companies have started to invest in the sector. Global investors have already committed large investments in established companies and it is ascertained that the sector will continue to grow further.
The occasion also had the presence of MD Patanjali Food Products, Aacharya Balkrishna, along with his know rivals Sanjiv Mehta, MD of Hindustan Uniliver and Sanjiv Puri the Executive Director of ITC group.
