Releasing a study done by CII & Yes Bank on “The Indian Processed Food Industry: A Diagnostic Review of Opportunities and Challenges” Mr Subodh Kant Sahai, Hon’ble Minister for Food Processing Industries, said that “The food processing sector has the potential to become the outsourcing hub for the world and India will be feeding the world in years to come.
He also stressed that the Ministry of Food processing is highly committed to the sector and has announced various incentives and schemes to support new ventures. He stated that the sector is muscular dwarf, which the capacity and capability to do for rural India what IT has done for the urban India. Minister stated this at the 2nd Processed Food – Advantage India ’10, organized by Confederation of Indian Industry (CII).
The knowledge report analyses the strengths and weaknesses of the processed food value chain, highlighting the blooming opportunities that are unfolding across various sub-segments in the processed food industry, and identifies the investment space that India offers to entrepreneurs looking to leverage on the food processing opportunity. The report was released on the sidelines of the 2nd Processed Food Advantage India 2010.
Stressing on the bridging the gaps in the Food Processing Sector Mr. SK Bansal, CEO, Mother Dairy F&V P. Ltd, stated that “India has an estimated Us $ 5 billion per annum as the supply capacity for the value added products and processed food to harness the potential the sector has to gear up to align with the real time global demand pull, which is increasing international taste for Indian foods, India’s enormous capability to match the demand and acceptance of Indian cuisine all over the World”.
Other speakers at the Meet were Mr. Piruz Khambatta, Chairman, Processed Food Advantage India 2010, and CMD Rasna International ltd, Mr. Salil Singhal, Chairman and MD PI Industries Ltd, Mr. Murat Bayizit, MD & CEO, Kaledonya Dis Ticaret Ltd, and Mr Herman C Claassens, Chairman, Auatralian Culinary Foods P. Ltd.
Mr. Khambatta in his presentation appreciated government’s early steps which have facilitated the growth of the Food Processing industry, ensuring the greater profitability down the entire food value chain. He also said that this is the right time for Indian producers to venture international.
The objective of the Processed Foods Outsourcing buyers – sellers meet, organized by CII was to explore and harness the untapped potential of the processed food segment in the overseas market. The two-day international Summit assumes greater significance due to the fact that for the first time over 50 global buyers had come from all across the World to explore India as an expanding global trade in outsourcing the processed food.
The Meet was attended by more than 50 International Companies engaged in food processing, retailing etc and around 80 Indian Companies. Over 2500 Business to Business Meetings were held and a number of business deals and Joint Ventures were proposed during the meetings.
Source:http://www.orissadiary.com/ShowBussinessNews.asp?id=20908
