Govt eyes $10bn investment in food processing sector in next 5 years

images.jpgSource: Business Standard, July 21, 2017

Mumbai: The government is eyeing an investment worth $10 billion in next five years in the food processing sector, Union Minister for Food Processing Industries Harsimrat Kaur Badal on Friday said.

“We have seen 40 per cent growth in FDI in multi-branded food retail after we announced 100 per cent FDI in the sector last year.”So after all the infrastructure is ready and the seamless ‘farm to fork’ value chain is in place we will get huge investment,” Badal said on the sidelines of a roadshow on ‘World Food India: 2017’ organised by CII.

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Indian liquor in high spirits

download (2).jpgSource: The Economic Times, July 13, 2017

Indian liquor continues to dominate the top 100 spirits brands worldwide in 2016 despite the overall slowdown and increasing prohibition.

Three local whisky brands figure within the top 10 with Officer’s Choice continuing to be the second largest spirits brand in the world, according to a July International Wine and Spirits Research (IWSR) report.Despite regulatory challenges such as demonetisation, liquor bans in various regions including Bihar, Officer’s Choice Whisky continued to maintain its stronghold in its home market by a huge margin. It continues to lead with 40% market share in the regular whisky segment,” said Jeetendra Hemdev, ED at Allied Blenders and Distillers (ABD). Read the rest of this entry »

Packaged food rules made buyer-friendly

Source: ETRetail.com, June 28, 2017

NEW DELHI: Institutional consumers such as airways, educational entities, hotels, hospitals or any other service establishment, which buy packaged commodities in bulk for their own use from manufacturers or wholesalers, cannot sell them as a retailer. As per the new rules notified by the consumer affairs ministry , all such products will bear a declaration of “not for retail sale”.

Moreover, it mentions that there cannot be dual maximum retail price (MRP) for the same product by the same manufacturer. “Unless otherwise specifically provided under any other law, no manufacturer or packer or importer shall declare different MRPs on the identical pre-packaged commodity by adopting restrictive trade practices or unfair trade practices under Consumer Protection Act,“ the new rules say.

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India set for record foodgrain output

images (1).jpgSource: Business Standard, May 11, 2017

India is set to see the highest foodgrain production this crop year, according to the government’s third advanced estimate released on Tuesday.

Boosted by normal southwest monsoon — a first in two years — foodgrain production in the 2016-17 crop year, which ends in June, would be 273.4 million tonnes, almost nine per cent more than that of the previous year.  Read the rest of this entry »

India pitches for FDI in food processing industry

download (1)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.

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Patanjali eyes 20% share in country’s processed food market

Source: Business Standard, Apr 20, 2017

New Delhi: Home-grown FMCG major Patanjali Ayurved is looking to double its share in the country’s food processing market to 20 per cent in the current fiscal.

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 »

Centre to launch Rs 6,000-crore Sampada scheme to reduce food wastage

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.

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