TN to invest INR1,000 crore in food-processing industry

Source: The Hindu Business Line, Sept 07, 2017

Chennai: Tamil Nadu will invest around ₹1,000 crore in food-processing projects in the next one year.

As part of this initiative, supply-chain management units will be set up in Erode, Krishnagiri, Dharmapuri, Nilgiris, Coimbatore, Dindigul, Theni, Tuticorin and Ramanathapuram at an investment of INR 398 crore.

The project is funded by Nabard and the State government.Speaking at the 12th edition of Food Pro 2017, organised by the Confederation of Indian Industry, O Panneerselvam, Deputy Chief Minister, said the State is a front runner in agriculture production.

Creates more jobs

Only 4.6 per cent of the produce is processed and 35 per cent of vegetables and fruits goes waste due to the lack of adequate cold-storage facilities.Panneerselvam said the push to food-processing is the need of the hour, as it can ensure better return to farmers and create more jobs in rural areas. He said the State will put in place regulations to ensure quality and food safety to become a global food market. Keeping in line with this objective, a research and development centre and public-private partnership will be explored to bring in innovative products with longer shelf life, he added.

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Government to aid mega food parks for two years

Source: The Economic Times, Aug 16, 2017

CHANDIGARH: The Central government will support farmers and entrepreneurs who invest in mega food parks in Punjab for two years from the time their projects are launched.

The farmers of Punjab must avail the maximum benefits from the Rs 6,000 crore allocated by the Prime Minister to boost the food processing industry, Union minister for food processing industries Harsimrat Kaur Badal told a gathering of farmers at a function in Amritsar organised by the Confederation of Indian Industry and the ministry on Wednesday.

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Sikkim govt to enter organic food JV with IFFCO with Rs 200 cr investment

Source: Business Standard, July 25, 2017

New Delhi: Fertiliser major IFFCO today said it has signed an agreement with Sikkim government to explore business opportunities in organic food market with an initial investment of Rs 200 crore.

The foray into the organic food market and food processing is a part of the co-operative IFFCO’s strategy to diversify its business.Apart from fertiliser, IFFCO is into general insurance, agro-chemicals, rural telecom, rural retail and farm forestry.Indian Farmers Fertiliser Cooperative (IFFCO) announced signing of memorandum of understanding (MoU) with the Sikkim government.

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GEA receives order to build Asia’s largest milk production plant in India

imagesSource: Business Standard, July 18, 2017

Mumbai: Global equipment and process technology provider GEA on Tuesday said it has received an order from the AmulFed Dairy, a unit of Gujarat Co-operative Milk Marketing Federation (GCMMF), to build milk production facility in Gandhinagar, Gujarat.

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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 »

Two mega food parks to come up in Kerala at an outlay of Rs 250 crore

Source: The Economic Times, June 09, 2017

KOCHI: Kerala will witness the launch of two mega food parks (MFP) with a total outlay of nearly Rs 250 crore on June 11.

The MFP at Alappuzha focusing on seafood will be set up with an outlay of Rs 130 crore by Kerala State Industrial Development Corporation (KSIDC) at the industrial growth centre in Cherthala. The MFP at Palakkad will come up at an investment of Rs 119 crore in the industrial park of Kerala Industrial Infrastructure Development Corporation (Kinfra) at Kanjikode

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Food retail reforms: Narendra Modi government mulls relaxing FDI rules

Source : Financial Express, May 11 2017

The government is considering a proposal to ease foreign direct investment (FDI) guidelines in the retailing of food products to allow a certain percentage of locally-produced non-food items along with the edible products. Food processing minister Harsimrat Kaur Badal told FE her ministry has suggested that a foreign retailer be allowed to sell locally-produced non-food items worth 25% of its investments at the farm-gate level. However, a final decision will likely be taken after comprehensive consultations among ministries, including commerce and industry, food processing, and finance.

The move to relax the rule comes after several global retailers such as Walmart, Tesco, Metro Cash and Carry and Auchan Group conveyed to the government their willingness to set up shops here, provided the rules are relaxed to add more items to the shelves, official sources had told FE early last month.

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