SHILLONG: The State Government is laying stress on foreign direct investment in the food processing units in the State.
Addressing the gathering at the national seminar on ‘Emerging Opportunities in Food Processing and Foreign Direct Investment in Food Retail’ and ‘Food Processing Investors’ Meet’ here on Thursday, Additional Chief Secretary P.W Ingty said there is investment opportunity for entrepreneurs in the sector as the State has crops which have value addition.
While laying importance on the need to develop the small and limited food processing units in the state, Ingty also pointed out that Foreign Direct Investment (FDI) in food retail can boost investment in infrastructure and productivity of the sector.
S. Bhattacharjee, Executive Director of NERAMAC, said, “FDI in food retail and food processing has significant role in improving the agriculture and food processing in the northeastern states, including Meghalaya.”
Earlier, M. Iboyamia Meitei, advisor to the North Eastern Council, said agro processing is one of the most important sectors in the region. At the same time, he said many processing units in the region have suffered due to demand and supply issues as a result of which many have become sick units while many closed down.
Meitei said though Meghalaya has a few regulated markets, the northeastern region as a whole has a poor marketing policy in the face of stiff competition from outside the region.
The NEC advisor said a wholesale marketing facility is coming up in Guwahati where all states can market their products.
M.B Roy, the Director of Industries, laid importance on schemes which would benefit the rural population while adding that many youths who are unemployed can be tapped for making the sector booming.
P.L Kaul, former president of the All India Food Processors’ Association (AIFPA) while welcoming the dignitaries gave the brief details of AIFPA and the objectives of organising the seminar as per the mandate of the Ministry of Food Processing Industry, regarding permitting 100 per cent FDI in Food Retail, manufactured in the country. He also mentioned about the opportunities for the food processing industries for small medium and large entrepreneurs in Meghalaya.
The two technical sessions were chaired and conducted by the senior officials of the State Government whereas the presentations were given by the experts coming from across the country.
The seminar was organised by the Ministry of Food Processing Industries and the NEC.
In continuation of the national seminar on Thursday, the Investors Meet would be organized by NERAMAC in association with AIFPA on Friday at the same venue.
