Australia likely to invest in India's processed food sector
The study also highlights benefits from greater Australian participation in this sector.
By PTI |
NEW DELHI: Australia is finding suitors in India to forge alliances in the food processing sector.
It has identified opportunities in Indian food processing sector and its firms are likely to invest, collaborate and make partnership with Indian companies, says a joint study between the two countries on food processing sector.
The study also highlights benefits from greater Australian participation in this sector.
The study 'Opportunities in the Indian Food Processing Sector' was jointly launched today here by Minister of State for Food Processing Industries Subodh Kant Sahay and Australia's High Commissioner in India John McCarthy.
The current trade with Australia is estimated at 10,098 million Australian dollar. Exports from India account for 1,280 million Australian dollar and mainly comprise of pearls and jems and jewllery, floor coverings and medicines.
"With strong growth in food retail, only two per cent of fresh products being processed at present and a burgeoning middle class demanding higher quality, safer and more readily available food products, the Indian government has identified the development of the food processing sector as an area of high priority," a release from the high commission said.
It also said significant opportunities exist for Australian participation in the Indian food processing sector, as Australia has widely recognised expertise in areas such as agri-technology, food production and processing, supply chain and cold chain logistics and retail services.
It has identified opportunities in Indian food processing sector and its firms are likely to invest, collaborate and make partnership with Indian companies, says a joint study between the two countries on food processing sector.
The study also highlights benefits from greater Australian participation in this sector.
The study 'Opportunities in the Indian Food Processing Sector' was jointly launched today here by Minister of State for Food Processing Industries Subodh Kant Sahay and Australia's High Commissioner in India John McCarthy.
The current trade with Australia is estimated at 10,098 million Australian dollar. Exports from India account for 1,280 million Australian dollar and mainly comprise of pearls and jems and jewllery, floor coverings and medicines.
"With strong growth in food retail, only two per cent of fresh products being processed at present and a burgeoning middle class demanding higher quality, safer and more readily available food products, the Indian government has identified the development of the food processing sector as an area of high priority," a release from the high commission said.
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It also said significant opportunities exist for Australian participation in the Indian food processing sector, as Australia has widely recognised expertise in areas such as agri-technology, food production and processing, supply chain and cold chain logistics and retail services.
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