New Delhi, Oct. 26 The Minister of Food Processing Industries, Mr Subodh Kant Sahai, has said that the Ministry is looking to form a joint working lab with the Europeans to test and certify processed food items that are to be exported to the EU.
“It is best if the items are tested here. The decision to approve the items or reject the items can be taken at the lab in India,” said Mr Sahai at the sidelines of an interactive session with Ms Anne Marie Idrac, France’s Minister of Foreign Trade, organised by the CII.
Speaking on cooperation between India and France in the field of food processing, Mr Sahai said that technology sharing between the two countries would aid India. He also added that India’s contribution would be the raw materials.
The Minister stated that work has begun on the 10 mega food parks. He added that FDI into the sector has increased this year but it has not been a “significant” increase.
Better treatment
“We want this sector to be treated like the agri sector by banks. Right now banks lend to the food processing sector at 12-14 per cent interest rates. We want venture capitalists and banks to treat us like a priority sector,” said Mr Sahai.
Addressing the gathering, Mr Sahai said that more than 70 per cent of the 1.2-billion population depends on agriculture. “Agriculture and post-harvest activities needs a primary focus. India and France can collaborate on a number of fronts in the field of Agriculture and food processing,” he said.
Mr Sahai suggested a separate working group for food processing industries. He said that India has abundant raw material and France has technology expertise, hence there is a need for a complete food park with French technologies which can act as a successful business model for the whole country.
Source : Business Line