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Indian Government May Invest Rs 1,500 Crores on Food Parks - The government of India will invest about 1,500 crores to set up food parks across 30 districts of the country
Indian Government May Invest Rs 1,500 Crores on Food Parks

 

NewswireToday - /newswire/ - Delhi, New Delhi, India, 2006/12/27 - The government of India will invest about 1,500 crores to set up food parks across 30 districts of the country.

   
 
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National Manufacturing Competitiveness Council has drafted a comprehensive plan to encourage investment & boost the use of technology in Indian food processing industry. Indian govt. is expected to spend Rs 1,500 crores for setting up these parks. In cooperation with the food-processing ministry, the commission has also suggested that a uniform 4% VAT be applicable for processed-food across the country.

Nevertheless, a lot of objections were raised by the members of the industry in a meeting held at FICCI (Federation of Indian Chambers of Commerce and Industry) on December 13, 2006. According to industry members, it's impossible to implement a uniform price for all products because taxation policies vary from state to state. And, this proposal appears to be too difficult to implement, since VAT hasn't even been adopted by many states.

As per a Research Analyst's view at RNCOS, who has recently researched a report on "Process Food Market - Asia Pacific (2006-2007)", "The govt. proposes to establish jumbo food parks in India's 30 districts. Inputs will be provided to farmers by the government of India, so that they can produce goods according to market demands. The govt. also said that that around 50 modern abattoirs will be set up in a couple of years with the provision to fund viability gap."

This research report on "Process Food Market - Asia Pacific (2006-2007)", also addresses some interesting issues for today's Global business environment:

- Get an insight into the trends in market performance
- Pinpoint sectors of growth and identify the driving factors
- Identify market, brand leaders, and understand the competitive environment
- Key Challenges and Strategies in Asia Pacific Food Processing Market

About RNCOS

RNCOS, incorporated in 2002, provides Market Research Reports for your business needs and aims to put an end to your information pursuit. Our expertise in gathering global business information for industry research, corporate training, growth consulting, and business consulting, brings reputed companies and firms to us for business enhancement solutions. We can be your one-stop-shop for Industry research information and niche market analysis.

 
 
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Indian Government May Invest Rs 1,500 Crores on Food Parks

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