Over Rs 2000 cr investment in Food Processing sector: Odisha signs MoU with 10 cos

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Bhubaneswar: The Odisha government has signed MoU with 10 companies which will invest more than Rs 2000 crore in the Food Processing sector.

The MoU with the state government was signed by leading firms such as Mayank Aquaculture Pvt. Ltd, Aussco India Marine Pvt Ltd, Aquaviva Indotech Ltd, Sabri Food Products Pvt Ltd, Falcon Marine Exports Ltd, Magnum Seafood Ltd, Aquawave  Biotech Pvt Ltd, Odisha Aqua Traders & Marine Exporters Pvt Ltd, OVAD Aqua Ventures and Manas R Mangaraj on the concluding day of the Make in Odisha Conclave at Janata Maidan in Bhubaneswar on Friday.

The total investment would be in the field of establishment of hatcheries, fish feed plants, shrimp processing plants, multiplication centres, farming, cold storage and aerator manufacturing units.

With the operationalisation of the projects by the aforesaid company which signed MoU with the state government, there will be an employment generation of around 17,000 individuals.

when the projects would be in operation. Investment intentions of INR 150 Crores from the Industry were received during the Seminar. Around 300 delegates from industrial houses across the country were present in the seminar.

Gracing a seminar on ‘Investment Opportunities in Food Processing Sector in Odisha’ as the chief  guest, MSME minister Jogendra Behera spoke about investor friendly policy environment with Industrial Policy Resolution (IPR), MSME, startup and Food Processing which are in place for promoting ease of doing business and development of infrastructure for food processing in the State. “Investments to the tune of Rs 5000 crore are envisaged in the next 3-5 years,” he added.

In his address, Industries minister Debi Prasad Mishra laid emphasis on the current eco system and the thrust being provided for Food Processing in Odisha. He said equipment manufacturing for food processing is an untapped market to be captured and International players from Italy are very interested in this sector. “This is a beginning of a long journey of growing and manufacturing in the food processing sector and welcomed the industry and assured hassle free facilitation post the conclave,” he pointed out.

Presiding over the seminar, State Principal Secretary, MSME, LN Gupta highlighted the immense potential of growth and employment in the Food Processing sector in Odisha.

Talking about the current food produce and the eco system of Odisha, Gupta said food processing is one of the priority sectors under IPR 2015 and the Food Processing Policy 2016 is unveiled to boost and give a fillip to the sector in the state. He also highlighted the objectives of the Food Processing Policy, 2016 which is to provide required infrastructural and institutional support and fiscal incentives to boost value addition in the sector.

“The state government shall facilitate establishment of Mega Food Parks/Sea Food Parks under Mega Food Park Scheme of Ministry of Food Processing Industries. State Food Parks are proposed at strategic locations namely Deogarh, Bhadrak, Bargarh, Nabarangpur, Ganjam,” he said, adding more than Rs 2100 crore investment proposals have been received as of now and it is likely to grow up to Rs 3000 crore within next 3 years.

Gupta further announced that the state govenrment will provide 25 percent capital investment subsidy and 35 percent capital investment in plant and machineries in food processing sector and in P&M for setting up of cold vhain, value added products etc. respectively.

“The state shall provide clearance to projects under the Single Window Clearance system and facilitate development of common infrastructure at food processing clusters by availing grants under various Central schemes.  Apart from this, financial assistance will also be provided for creation of infrastructure facilities for running degree/diploma /certificate courses in Food Processing technology and conducting Entrepreneurship Skill Development programmes,” he informed.

Ashish Bahuguna, chairperson, Food Safety and Standards Authority of India (FSSAI) stressed on the need to avoid post-harvest wastages, need for food safety to protect the life and health of consumers. He also said that the food industry and the regulatory machinery have to work together with consumer groups and reach out to all constituents of the food chain.

Piruz Khambatta, vhairman and MD, Rasna Ltd. appreciated the state government for such a proactive approach and lauded the Make In Odisha Conclave. He called upon SMEs to set up food processing units in Odisha as eastern India is a major market. FMCG growth rate of eastern India is double the growth rate of western India. He informed that a special fund of Rs. 2000 crores has been created in NABARD for providing affordable credit/term loan to entrepreneurs for setting up of food processing units in designated food parks, support for technology upgradation/ modernisation of parks under the special fund.

Khambatta also said there is a huge market opportunity for organic products such as milk, castor oil, value addition products, banana fibre, egg powder, shrimp farming etc.

Srikumar Misra, CEO and MD, Milk Mantra, Gautam Sharma, MD, Indo-Nissin Foods, Sriram Panda, MD, MITS Food Park, Ramesh Mohapatra, Managing Director and Magnum Sea Food highlighted the present opportunities and the Eco-system of food processing in Odisha.

Rangalal Jamuda, chairman, Food Commission and BP Sethi, secretary, State Fisheries & Animal Resources Development, also spoke.

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