The food processing industry in India has attracted foreign direct investments (FDI) worth $1,970.09 million between April 2000 and July 2013.
The latest data published by Department of Industrial Policy and Promotion (DIPP), which suggests the potential of this sector and in Tamil Nadu, there is an increase in participation of entrepreneurs, bankers, financial institutions in food processing sector.
Tamil Nadu governor Dr K Rosaiah emphasised the need to take advantage of investments in this sector. He was addressing an ASSOCHAM conference titled ‘Linking Growth drivers of food processing industries: Market, Retail, Quality with Food Safety and Skills,’ held in Coimbatore. Dr K Ramasamy, Vice-Chancellor, Tamil Nadu Agricultural University, Coimbatore and Ravindra Sannareddy, Chairman, ASSOCHAM Southern Region Council, were also present.
| From left to right- Dr Om S Tyagi, Sr Director, ASSOCHAM, Ravindra Sannareddy, Chairman, Southern Regional Council, ASSOCHAM and Founder & Managing Director Sri City, Dr K Rosaiah, the Governor of Tamil Nadu, Dr K Ramasamy, Vice-Chancellor, Tamil Nadu Agricultural University, Coimbatore, Dr Pankaj Jaiminy, Assistant Vice-President, TUV SUD South Asia |
“Tamil Nadu’s food processing policy aims at value addition from agricultural, fisheries, dairy, meat and poultry and other edible biomass produce by induction of modern technology into food processing, encouraging research and development, minimisation of wastage by development of infrastructure for storage, transportation and processing of raw material to bridge gaps of supply chain from farm/harbour to consumer and promotion of investment in all these fields,” Dr Rosaiah said.
The Government is working to promote industries, specifically identified as ‘Thrust Areas’ in food processing and agro based industries and is providing support to enhance the level of food processing to increase value addition and thus, increase India’s share in global food trade, said Dr Rosaiah.
Presence of food processing sector over a decade has generated opportunities for skilled manpower in the state. University and academic institutions are realising these facts by modifying their curriculum accommodating changed market expectations for increasing employability of skilled work force, said Dr K Ramasamy, Vice-Chancellor, Tamil Nadu Agricultural University, Coimbatore.
Food processing industry in India is on an assured growth track and profitability. It is expected to attract phenomenal investment in capital, human, technological and financial areas. The total food production of India is estimated to double in the next 10 years. Hence there is an opportunity for large investment in food and food processing technologies according to Ravi Sannareddy, Managing Director, Sri City.