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Badal & French industry players discuss food processing collaborations
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Saturday, 22 October, 2016, 08 : 00 AM [IST]
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Our Bureau, New Delhi
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fiogf49gjkf0d On an official visit to SIAL Food Show 2016 in France, Harsimrat Kaur Badal, minister of food processing industries, met key industry players from the European nation to discuss investment and collaboration opportunities between the two countries in the food processing, food technology and retail industries.
She shared with the French companies the huge business potential in India’s food processing sector and encouraged the French companies to explore India as an investment destination.
Badal had one-on-one meetings with the senior leaderships of French companies, such as Savencia Fromage and Dairy (the country’s leading cheese company in France), Sodiaal (its leading dairy cooperative), Groupe Auchan (one of the country’s leading retail chains), Axreal (its topmost grain co-operative), Lesaffre (a yeast processor), Mandar (a producer of herbs), Rouquette (a leading starch producer) and Monin (a leader in syrups).
She also met companies from other countries which are actively looking at India as an investment destination. These included Gordon Food Service (from the United States), Friesland Campina (from the Netherlands) and the Colryut Group (Belgium).
The minister has also met with Stephane Le Foll, France’s agriculture, food and forestry minister, to discuss strengthening cooperation between the two countries in the food processing sector.
Another highlight of her visit, was her meeting with the chief executive officers of French food processing machinery manufacturers at a meeting with ADEPTA, the association of food processing manufacturers, as well as the meeting with senior management team from Soufflet (an expert in barley and wheat, which is the biggest private buyer of cereals in Europe).
In the last leg of her visit, Badal will visit Rungis Market, the largest wholesale market in the world.
She invited companies and suggested to the associations she met to participate, with their delegations, in World Food Summit 2017, a three-day flagship event which will be organised by the ministry of food processing industries (MoFPI).
It will focus on showcasing the achievements and opportunities of the Indian food processing sector and fostering maximum investment commitments.
The event will also provide a platform to exhibit innovative products and manufacturing processes, showcasing the entire value chain of the food processing industry with a vision to leverage innovation, technology, development and sustainability in the backdrop of achieving food security.
Speaking at the fourth edition of the France India Agribusiness and Food Processing Industries, organised by the Chamber of Commerce and Industry France India, Badal reiterated the need for enhanced cooperation between India and France in the sector.
She said, “With increasing disposable incomes 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.”
Most recently, the government of India has allowed 100 per cent foreign direct investment (FDI) through the Foreign Investment Promotion Board (FIPB) route in marketing of food products produced and manufactured in India.
This initiative has opened up vast opportunities for international companies to invest in India in the food processing supply and marketing chain. Additionally, attractive incentives have been established by the Central and state governments to include capital subsidies, tax rebates and reduced custom and excise duties.
There is increasing focus on supply chain-related infrastructure, such as cold storage, abattoirs and food parks. The French food companies expressed interest in doing business in India during their interaction with Badal.
At the fourth edition of France India Agribusiness and Food Processing Industries, Manish Prabhat, deputy chief, India mission to France, said, “India is doing well amongst world economies and is an attractive destination for FDI. What is required is closer interaction between the Indian and French food and beverage sector to strengthen the relationship and business.”
Applauding the progressive changes to enhance growth in India’s food processing industry, Piruz Khambatta, co-chairman, Confederation of Indian Industry’s (CII) National Committee on Food Processing Industry, and chairman and managing director, Rasna Pvt Ltd, said, “The government’s decision to permit 100 per cent FDI under government approval route for trading, including through e-commerce, in respect of food products manufactured or produced in India will provide a major impetus to investments, employment and job creation in the food processing industry.”
“This policy announcement is aligned with the government’s Make in India initiative facilitating the ease of doing business, and through CII, we hope to support the government in taking these positive messages to key global markets such as France, and invite international business collaboration.”
Besides Khambatta, the others accompanying Badal are Anuradha Prasad, joint secretary, MoFPI, and Hardeep Singh, the minister’s private secretary.
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