Japan To Set Foot In The Indian Food Processing Sector
Harsimrat Kaur Badal, Minister of food processing, had an amicable and productive series of meetings with the Japanese Agricultural Minister, Ken Satio and few other big names in the Japanese food service industry such as Marubeni Corporation, Isetan Misukoshi Holdings, Housefoods Corporation, Japan Association of Refrigerated Warehouses, Mitsui Foods, Royal Host and Kohyo Company, Nissin Foods, Yakult and Fuji Oil Holdings during her trip to the Island Nation. Her three day visit since March 1st resulted in the Indian Ministry of Food Processing Industries (MoFPI) drawing to close quarters with Japan due the interests they have now shown in investing in our food processing sector.
“Japanese companies are flush with funds and are looking at investing in India. The Japanese are not looking at India as just a large market but a manufacturing hub. I am sure we will take food diplomacy to another level.” says the Minister of Food Processing.
Trade between Japan and India is worth about 14 billion dollars amongst which 1 billion dollars accounts to food production .Badal also talk about India’s potential of being an export hub for seafood, cashew and sesame seeds. A famous egg manufacturer from Japan namely-“Ise” plans on investing in India as it is the third largest producers of eggs in the world. The Minister gives us more reasons to be excited about as she says that there is huge opportunity for Japanese investment in India’s food processing sector as only 12 firms out of 380 food companies have presence in the country. Let the FDI roll in!