Minister Radha Mohan Singh, on Saturday, called upon investors — both global and Indian — to leverage opportunities in the country’s farm, dairy, poultry, and fisheries
The industry responded by highlighting the challenges it faces, including high goods and services tax (GST) rate on some items and high cost of funds, but assured that it was willing to partner with the government to ensure the sector grows at a fast clip.
“The world is eager to study and adapt our growth strategy and the government is implementing various schemes to promote these sectors in order to double farmers’ income by 2022,” Singh said at the World Food India 2017
He said that India has moved ahead from a country facing food shortage to becoming a food exporter.
He said there were investment
opportunities here as India is the world’s largest milk
producer, second-largest fruits
and vegetable producer, third in production of fish
and fifth in egg production.
Secretary, Department of Animal Husbandry, Devendra Chaudhury said the government was looking at setting up cold chains in ports and harbors to facilitate fish
exports, focusing on developing pasture land
for growing fodder, which is in acute shortage in the country and also taking various steps to boost breeding and artificial insemination techniques which would give better milk, egg and meat yields.
Speaking at the event, Nestlé India Chairman and Managing Director Suresh Narayan talked about different opportunities in the dairy
The per capita consumption of milk
is rising in the country and the milk
can be fortified with vitamins thereby increasing its nutritional value, he said.
Nekkanti Sea Foods Director Venkat Rao said the opportunities exist in the shrimp sector and also talked about challenges like traceability being faced by the industry.
Rasna Pvt Ltd Managing Director Piruz Khambatta said the food processing industry will promote Make in India and also help in doubling farmers’ income.
He said the government should keep all processed food items below the 28 per cent GST
tax rates and also allow it to access loans at the same concessional rates as it gives to agriculture
Yogesh Bellani, CEO of Field Fresh Foods said there were some distinct trends in India’s food processing sector
which needs to be tapped.
He said there are lots of opportunities in fruits
sector but it has to be made affordable and remunerative for both farmers
and consumers alike.
R S Sodhi, Managing Director of Amul said any investment
opportunity in the food processing sector
should ensure that on one hand farmers
get a good price for their produce, while on the other hand the products are available at affordable rates to consumers.
In 2016-17, India exported 5.03 million tonnes of fruits
— 4.16 million mt, processed fruit, and vegetable — 0.88 million mt, flower farming — 33,725 mt), which was 12 per cent more in value terms.