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AIFPA meet on FDI - Call for synergy between investment and technology
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Ashwani Maindola, New Delhi
March 10 , 2017
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With the ministry of food processing industries focussed on bringing in
Foreign Direct Investment (FDI), industry experts have called for a
synergy between investment and technological intervention for the
overall development of the sector. This important observation was made
at a daylong seminar on Recent Development in Food Processing Sector
Technology and Opportunity for FDI through Food Retail, organised by
AIFPA here on Thursday.
Speaking on the occasion, Dr V Prakash,
former director, CFTRI, Mysuru, said that India was rich in agri
resources but lacked value addition. He explained, “Globally, India
ranks amongst top countries in various agri produce like milk, fruits
and vegetables, rice or wheat and it is our responsibility to optimally
use these resources while synergising the FDI and technology.”
He felt that food industry urgently needed a handholding by MoFPI and regulatory agencies.
Elaborating
on the event, Dr S Jindal, president, AIFPA, stated that MOFPI had
studied the potential growth parameters and identified that a synergy of
FDI with technology upgradation would be important to bring the desired
results.
He observed, “It is in this respect, AIFPA is working
to take the initiatives of MoFPI further. We have deliberated upon the
need to improve and absorb new technology relevant under the Indian
circumstance along with investment inputs, particularly from the foreign
companies.”
Jindal pointed out, “The objective is that Indian
marketing and retail becomes more efficient as better reach at all
levels including the remote and rural areas along with the tier I
cities.”
Few of the experts, who spoke at the meet, were of the
opinion that technology upgradation for processing, packaging or even at
the farmgate, would decide the future of the sector.
Meanwhile,
it is learnt that several B2B meetings of Indian businesses and foreign
companies took place on the sidelines of the event. The companies
deliberated upon possible investment opportunities and tie-ups.
The event recorded participation by industry representatives in large numbers.
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