Thursday - October 17, 2019 2:08 pm ,
Category : WTN SPECIAL
WTN- Among other things the investors’ meet Magnificent MP is going to see, is the stress on food possessing sector. Madhya Pradesh holds immense potential in the sector because of its large agricultural land bank and excellence in agriculture production. The advantage of food processing industry is that it has the potential to directly boost farmers’ income apart from job generations the manufacturing/processing units assure. The government is trying to highlight the advantages of setting up food processing units in the state to woo investors in this sector. Being a farmer oriented industry, a subsidy of 10 per cent extra as compared to other industries is also being given to investors who establish food processing units in the state.
MP already has a strong food processing base. Production of edible oil from soya is the highest here. Much of the oil produced is exported from MP to countries like the US and China. Since soya is non-GM here, its demand is much in foreign countries. Madhya Pradesh is also the leading state in the production of pulses and garlic. In wheat to it is giving a tough fight to Punjab and the quality of MP wheat is touted to be better than that produced in Punjab and other traditional wheat producing states. Many foreign brands import the Malwi wheat species produced in MP to make their products like pasta and noodles.
Thus already having an edge, MP must take advantage of its position by leveraging its assets. There are over 200 small food processing units in operation around Indore itself though due to lack of capital and logistics they fail to compete with the bigger brands. Better investment in the sector is bound to boost their prospects too as better technology, logistics and exposure will equip the smaller and local industries to better promote their products.
Being pre-dominantly an agricultural state, MP needs to aggressively promote and exploit the food processing ventures coming its way. The government must heed to the demands and grievances of prospective investors to send the right signals across investor sentiments. Food processing for one is a fast emerging sector with immense untapped potential, especially in MP. Just the way Indori namkeen has today a global brand value, we need to make the Indori oil, Indori biscuits, Indori cakes, Indori soya too products of global excellence. Apart from Indore and its periphery, other areas of the state too must be equally facilitated for investors with proper infrastructure, logistics etc. so that development is balanced and the benefits are reaped by all, instead of becoming concentrated in a limited area. - Window To News