Sunday, October 15, 2006

Food Processing industry likely to get Rs. 500 billion investment

The Economic Times reports that the Indian government is planning to invest Rs. 500 billion in the food processing industry. The investment will take place during the 11th Five Year Plan. According to Subodh Kant Sahai, minister for state for food processing, the government is focusing the investment on building strong backward and forward linkages of the supply chain, creating testing facilities and setting new abattoirs. He added that the government’s share of this investment would be 10%, the industry’s share 40% and banks and private institutions share 50%.

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