Source : Financial Express
Pitching for foreign direct investment in the food processing sector, India has asked the US companies to take advantage of its liberalised foreign investment rules, ready made infrastructure and improving business environment. A high-powered team of Indian officials led by Jagdish Prasad Meena, Special Secretary in the Ministry of Food Processing Industries yesterday started their two-day trip to Midwest from Chicago holding meetings with high-level officials from several Chicagoland food services, logistics and restaurant companies.
During the meeting, Meena urged them to take advantage of India’s liberalised foreign investment rules, readymade infrastructure and improving ease-of-doing-business climate, the Indian Consulate in Chicago said in a statement. Given its size and location in the Midwest, Chicago has been the hub of the US food and food processing industry and is home to many of the world’s leading food and agriculture companies.
Source: Business Standard, Apr 20, 2017
The yoga guru Ramdev-led firm, which has plans to invest Rs 5,000 crore on expansion of its various verticals, would be putting aside a substantial portion of funds towards opening of new units and ramping up capacity of the existing units. Read the rest of this entry »
Source: The Economic Times, Apr 11, 2017
NEW DELHI: The food processing industries ministry plans to soon launch a Rs 6,000-crore scheme, Sampada, for agro-marine produce processing and development of agro-processing clusters, with an aim to reduce food wastage and ensure farmers get remunerative prices.
The scheme will integrate current and new schemes from mega food parks to cold chain projects and introduce three new schemes – creation or expansion of food processing and preservation capacities, new agro-processing clusters, and backward and forward linkages.
Source: ETRetail.com, Mar 31, 2017
Following calls from global retail giants such as Wal-Mart Stores Inc. and Tesco Plc, Prime Minister Narendra Modi is set to decide by November whether India is prepared to ease strict rules on food retailers, a minister said on Tuesday.
India allows 100 percent investment by foreign wholesalers, but if they want to access the burgeoning retail market, they can only have a 100 percent holding to sell food items. This forces them to overhaul their businesses instead of replicating models that have worked abroad, Harsimrat Kaur Badal, minister for food processing industries, said in an interview at her official residence in New Delhi.
Source: Business Standard, Mar 28, 2017
New Delhi: The country’s largest e-grocer Big Basket, snacks biggie Haldiram, cooperative major Amul, and logistics firm Balmer Lawrie are among the 101-odd firms which reeceived the Centre’s nod on Monday to set-up cold chain projects across the country entailing an investment of Rs 3,100 crore.
The cold chains, which are expected to come up in the next 18-24 months, could go a long way in lowering wastage of fruits and vegetables.
Of the Rs 3,100 crore expected investment, the Centre would contribute around Rs 838 crore, while the remaining Rs 2,262 crore would come from the private sector.
Source: The Hindu Business Line, Mar 27, 2017
New Delhi: The Food Safety and Standards Authority of India (FSSAI) is looking to partner global and domestic companies to raise the levels of food safety and hygiene in the country. The regulator is also looking to engage with food companies on various other aspects such as compliance and developing robust consumer grievances processes.
FSSAI CEO Pawan Agarwal said safe and nutritious food for all is a “shared responsibility”.
“We are looking to engage with corporates to scale up initiatives to ensure the availability of safe and nutritious food in the country. We are also looking to engage with companies on various other areas such as compliance, training and capacity building, among others,” he added.
The regulator on Monday signed an MoU with Coca-Cola India to train 50,000 streetfood vendors under its project “Clean Street Food” across India over the next three years. While Coca-Cola India will handle programme execution through its bottling plants network, FSSAI will help develop the training content.