Make in Odisha conclave ends: Sign of MoU to invest Rs 2000 cr in Food Processing sector in Odisha

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Bhubaneswar, Dec 3: The international summit in Odisha here ended on Friday with sign of the MoU between the Odisha government and the ten leading companies, which have agreed to invest around Rs 2000 crore in the Food Processing sector of Odisha.

Those leading companies are 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.

It’s stated that the total investment would be made in the field of establishment of hatcheries, fish feed plants, shrimp processing plants, multiplication centres, farming, cold storage and aerator manufacturing units. Also, there will be an employment generation of 17,000 individuals during the operation of these invested projects. 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.

The chief guest of the seminar was MSME minister, Jogendra Behera. Behera highlighted on investor friendly policy environment Industrial Policy Resolution (IPR), MSME, startup and Food Processing and investments of around Rs 5000 crore are likely to be enrolled in the next 3-5 years.

Industries minister Debi Prasad Mishra emphasized on the current eco system and the thrust being provided for Food Processing in Odisha, he called the food processing market as an untapped market and pointed out that investor from Italy are interested to invest in this sector.

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State Principal Secretary, MSME, LN Gupta pointed out the immense potential of growth and employment in the Food Processing sector in Odisha. He said that food processing is one of the priority sectors under IPR 2015 and the Food Processing Policy 2016 is unveiled to boost the sector in the state. He laid down the objectives of the Food Processing Policy, 2016, among which one being, to provide required infrastructural and institutional support and fiscal incentives to boost value addition in the sector. He pointed out that 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.

Till now more than Rs 2100 crore investment proposals have been received which is likely to grow up to Rs 3000 crore within next 3 years. Also the government would be giving 25 percent capital investment subsidy and 35 percent capital investment in plant and machineries in food processing sector and in P&M in order to set up value added products respectively. He said that the government is likely to give clearance to projects under the Single Window Clearance system and also facilitate development of common infrastructure at food processing clusters by availing grants under various Central schemes. Financial assistance will also be provided for making infrastructural facilities for running degree/diploma /certificate courses in Food Processing technology and conducting Entrepreneurship Skill Development programmes.

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

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Piruz Khambatta, chairman and MD, Rasna Ltd at first appreciated the state to come up with such a proactive approach and also apprised of the Make in Odisha conclave. AS eastern India is a major market, he requested the SMEs to set up food processing units in Odisha. It’s stated that the FMCG growth rate of eastern India is double the growth rate of western India. A special fund of Rs. 2000 crores has been created in NABARD to give out affordable credit/term loan to entrepreneurs to come up with food processing units in designated food parks, support for technology upgradation/ modernisation of parks under this special fund, he informed. Lastly he stated that there is huge market opportunity for organic products, like milk, castor oil, value addition products, banana fiber, egg powder, and shrimp farming.

The other businessmen who spoke were Rangalal Jamuda, chairman, Food Commission, BP Sethi, secretary, State Fisheries & Animal Resources Development, 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. They pointed out the present opportunities and the eco-system of Odisha’s food processing.

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