Source: ETRetail.com, Oct 21, 2016
New Delhi: Food Processing Minister Harsimrat Kaur Badal has invited french food companies to invest in India and said 100 per cent FDI in marketing of food products offers vast opportunities for the global firms.
The minister is on an official visit to SIAL Food Show 2016 in France.During the course of her visit, she met key industry players in France to discuss investment and collaboration opportunities between India and France in food processing, food technology and retail industries, industry body CII said in a statement.
Speaking at the Fourth Edition of ‘France-India Agribusiness and Food Processing Industries’, Badal reiterated the need for enhanced cooperation between India and France in this sector.
“With increasing disposable income and changing consumer preferences in India, retail and e-commerce are booming in the food segment and this is where the opportunity lies.
“Over the past two years the Government of India has taken a number of policy decisions to spur vibrant growth in the food processing segment. With such a progressive policy outlook, we will offer full support towards new collaborations and greater investment,” she said.
The government has recently allowed 100 per cent FDI through FIPB route in marketing of food products produced and manufactured in India. This path-breaking initiative has opened up vast opportunities for international companies to invest in India in the food processing supply and marketing chain.
“The French food companies expressed interest in doing business in Indian during the interaction with the Minister of Food Processing,” CII said.
Badal interacted with top food companies in France, sharing with them the huge business potential in India’s food processing sector and encouraging the French companies to explore India as an investment destination.
She had one to one meetings with senior leadership of French companies, including Savencia Fromage & Dairy, the leading cheese company in France, Sodiaal – the leading dairy cooperative of France, Groupe Auchan – one of the leading retail chains in France and Axreal -the topmost grain cooperative of France.
Badal also met companies from other countries which are actively looking at India, as an investment destination, that include: Gordon Food Service (USA), Friesland Campina (Netherlands), the Colryut Group (Belgium).
She met Stephane Le Foll, Minister of Agriculture, Food and Forestry, France to discuss strengthening cooperation between the two countries in the food processing sector.
Badal also invited the companies and various associations to participate with their delegation on the occasion of the World Food 2017 – a three day flagship event being organized by the food processing ministry.