The Indian food processing industry is expected to reach USD 320 billion by 2015 and there is a need to create a conducive climate to attract investments in this sector, an industry official said today.
"There is a need to attract investment in India's food sector, which is estimated to grow at USD 320 billion by 2015. The food processing sector will account about 40-50 per cent", Kancor Ingredients Ltd Managing Director Sanjay Mariwala said.
Mariwala, who is also Chairman of the ninth edition of "Foodpro 2011" organised by CII, said there are over 25,000 registered units in the food sector with investments of Rs 84,000 crore.
He said many issues like high cost of packaging,preferences for fresh food and lack of infrastructure were some of the challenges faced by the industry.
Earlier, Chairman and Managing Director of fruit drink concentrate maker Rasna Private Ltd Piruz Khambatta said there was need to make food sector eligible to avail priority sector lending from banks and exempt food processing industry from the Agricultural Produce Market Committee (APMC) Act.
He suggested that Central and State governments partner the food processing industry and offer processed foods to school students through mid-day meal programmes.
Around 170 companies with various equipment to food processing industry and allied sectors are participating in the two day event.
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"There is a need to attract investment in India's food sector, which is estimated to grow at USD 320 billion by 2015. The food processing sector will account about 40-50 per cent", Kancor Ingredients Ltd Managing Director Sanjay Mariwala said.
Mariwala, who is also Chairman of the ninth edition of "Foodpro 2011" organised by CII, said there are over 25,000 registered units in the food sector with investments of Rs 84,000 crore.
He said many issues like high cost of packaging,preferences for fresh food and lack of infrastructure were some of the challenges faced by the industry.
Earlier, Chairman and Managing Director of fruit drink concentrate maker Rasna Private Ltd Piruz Khambatta said there was need to make food sector eligible to avail priority sector lending from banks and exempt food processing industry from the Agricultural Produce Market Committee (APMC) Act.
He suggested that Central and State governments partner the food processing industry and offer processed foods to school students through mid-day meal programmes.
Around 170 companies with various equipment to food processing industry and allied sectors are participating in the two day event.
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