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AIFPA meet on FDI - Call for synergy between investment and technology
Friday, 10 March, 2017, 08 : 00 AM [IST]
Ashwani Maindola, New Delhi
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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