The Hindu : Business : Malaysian investment in food sector sought

Online edition of India's National Newspaper
Friday, Jul 15, 2005

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Business

Malaysian investment in food sector sought

Special Correspondent

Scope for cooperation in agricultural mechanisation

NEW DELHI: India on Thursday called upon Malaysian corporates to invest in the agriculture and food sectors in India, particularly in the areas like export/import of advanced agricultural technologies and agricultural produce.

Addressing a conference on "Transformation of agriculture and agro-based sector and cooperation among the Asian countries'' at Kuala Lumpur, the Secretary (Agriculture) to the Union Government, Radha Singh, said there were several opportunities for cooperation between the two countries for investments.

India and Malaysia could cooperate in the area of agricultural mechanisation, seeds, fertilizers, research and development and institutional tie-ups, she said, according to a press note issued here.

Ms. Singh is leading a high-power delegation to Malaysia, including representatives from the Agricultural and Processed Food Products Export Development Authority (APEDA) and the Confederation of Indian Industry (CII).

Referring to the recently signed memorandum of understanding between India and Malaysia, she drew the attention of Malaysian investors to the vast range of opportunities available in India for investment in the processed food sector, food processing units for export to third countries and also packaging and processing of fruits and vegetables. Besides, India would require large-scale investment in agri-infrastructure projects needed for the development of post-harvest and cold chain.

It has been assessed that an investment of over $2.5 billion (Rs.11,172 crore) would be necessary in the next ten years for infrastructure development for agricultural marketing.

India is providing capital investment subsidy on infrastructure projects, to encourage a major portion of investment from the private sector, in agriculture and allied sectors including dairy, meat and fisheries.

India is one of the leading producers of many farm commodities. It stands second in world fruit and vegetable production.

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