Prime minister Manmohan singh told a gathering of state food minister for food processing that
Food processing is an sunrise industry and has potential to change the rural economy of India . He urged state governments to rationalise tax and levies on processed foods .
PM also highlighted that most of these food processing units are in small scale industry hence would require help from govt institution to become competitive in world market .
He observed that the food industry in India is fragmented and mostly are unorganised . We lack in basic infrastructure to have world class food industry . India being one of largest producer of agriculture food products has contribution of only 2% to the world food industry trade . He congratulated food industry captains for achieving 14% growth rate even in these times of recession .
He also sees Multinationals in waiting in many food processing companies in coming future and was optimistic on participation of big industrial house s in food processing . Giving statistics Mr Manmohan Singh told that The Prime Minister also said that the government is working sincerely to realize this vision for the food processing sector. Our Government adopted in 2005 a ‘Vision 2015 – Strategy and Action Plan’ to enhance the level of processing of perishables from 6% to 20%, to increase value addition from 20% to 35% and to increase India’s share in global food trade from 2% to 3%.
He said that trade policy, automatic approval for foreign equity upto 100% in food processing units, customs duty exemptions. During the 11th Five Year Plan, the government has initiated major infrastructure development programs like the Mega Food Park, Cold Chain, Value Addition and preservation Infrastructure and modernization of abattoirs, Prime Minister said.
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