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Time ripe for Japanese cos to invest in India's food sector: FSSAI chief

Press Trust of India  |  New Delhi 

The time is ripe for to increase volume of its items in through imports or investment in the processing sector as regulatory environment has undergone a paradigm change, said today.

"The time is ripe for increasing volume of availability of Japanese foods in whether through imports or increasing investment in India's processing sector, "Bahuguna said at an event.

The and Standards Authority of (FSSAI) has harmonised the regulations in tune with international requirement of CODEX. All standards and regulations are transparent, he said.

"I would like to underscore that regulatory environment has undergone a paradigm change. ....There is huge scope for Japanese in India. Invest in this sector. You will be assured of all kind of support not only from government of India but also from private food businesses," he added.

The FSSAI said that the regulator is no longer obsessed with concerns alone. "Obviously, it is still paramount. It is equally emphasising and focusing on nutritional value," he said.

Stating that Japanese cuisines is know for its purity, simplicity and nutritional value world over, he said in India too, a large section of consumers are trying to adapt to Japanese foods but companies keen to invest in India need to innovate their products and modify to suit to the Indian palate.

Speaking on the occasion, Mitsuhiro Miyakashi -- to the of -- said the signing of agreements between two countries in the area of is an important milestone.

Japanese firm today signed a memorandum of agreement (MoU) with processing with an investment commitment of Rs 271 crore. Another MoU has been signed between two governments on phyto-sanitary certification of

Miyakashi further said that India and have decided to set up a joint working group on

"I do believe that with these several initiatives, related procedures on Indian side will become smoother and I expect that it will be give impetus to export of from Japan as well as give impetus to Japanese companies in food related business here," he added.

He was speaking at an event organised by industry body CII and (JETRO).

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

First Published: Tue, March 13 2018. 22:10 IST