India needs investment of $2 bln for low-cost cold chain tech

India needs USD 2 billion investment to set up low-cost and energy efficient cold chains in the country, Agriculture Ministry Radha Mohan Singh said today.
In a meeting with a Canadian delegation, led by Premier of Saskatchewan Brad Wall, Singh discussed ways to strengthen cooperation in agriculture and allied sectors between India and Canada, an official statement said.
Discussing investment opportunities in cold chain sector, Singh said: "India is in need of low-cost/energy efficient and ecological sustainable cold chain technologies requiring an estimated investment of USD 2 billion."
He also emphasised the need to boost the bilateral trade between the two countries especially in farm items.

"India would like Canada to increase their imports from India because Indian exports of agricultural commodities to Canada were of the order of USD 345.71 million, while imports from Canada were of the order of USD 771.86 million," the statement said.
India imports peas and other pulses from Canada. Since 2004, there is an understanding with Canada that imported pulses are fumigated with Methyl on their arrival at Indian Ports to mitigate risk of quarantine nematodes.
This practice is being extended from time to time and the current one has been extended to March 31, 2015 to facilitate smooth trade between the two countries, the statement added.