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Japanese firm Ise Foods inks pact with GoI; to invest Rs 217cr

Press Trust of India  |  New Delhi 

Japan's largest egg producer, Ise Foods, today announced signing of a memorandum of agreement (MoU) with with an investment commitment of Rs 217 crore.

This is the first ever MoU signed by a Japanese company with the Processing.

Elaborating the areas of cooperation, said the company would like to extend cooperation in ensuring pesticide residue free egg production.

Also, the company wants to support India's efforts in Already, has set up a solar unit outside Delhi, he said at an event organised by industry body and External Trade Organisation (JETRO).

As per the MoU, will also provide support and reducing agricultural loss through use of modern Silos for storage of grains among others, he added.

"This is the first Japanese company to sign the MoU with us. Considering the size of Ise Foods, the investment committed is just the tip of the ice berg. More funds are expected. Other companies will follow suit," said Parag Gupta, in the

There is lot of opportunity in for Japanese companies to invest in food processing sector, he said and added accessibility of Japanese food in can be increased with more awareness, availability and at affordable price.

Stating there is lot a of opportunity in India, said there is rise in demand for Japanese food here but high cost is a challenge.

To address this, Japanese food companies will have to build a backward linkages with farmers and invest here to bring down the costs, he added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 13 2018. 18:55 IST