Experts hope FDI boost will fortify food processing

Aurangabad: The newly announced provision for 100% FDI has sent hopes afloat in the region’s industrial circles about large potential investments to come.

Industry experts are hoping for two particular MNCs to invest in the Mega Food Park on the Aurangabad-Paithan road, 30km away from here.

During the Make in India Week held recently in Mumbai, the MNCs in question had announced that they were eager to invest up to Rs 33,000 crore in Maharashtra .

“With the Union Finance Minister proposing to allow 100% FDI through Foreign Investment Promotion Board (FIPB) route in marketing of food products produced and manufactured in India, now it is the turn of the state government to drive the investors to invest in the upcoming food park in Aurangabad,” said Ritesh Mishra, former secretary Chamber of Marathwada Industries and Agriculture Association (CMIA).

Pepsico has been giving fruits their share of limelight. Recently it launched a Mosambi flavor under its Tropicana label. Following this, the company will develop and launch a series of juices that will include locally produced fruits like mango, guava, pomegranate, litchi and jamun, the company had said in a statement.

Voicing a similar opinion, Nandkishore Kagliwal chief promoter of the mega Food Park and chairman of Nath Group said, “If the country’s economy has to grow, the agriculture economy also needs to grow by at least 4%. Unfortunately, since past two years the agriculture economy has been in straits.”


“However, considering the need, the Union Finance Minister has made an effort for balanced growth and address rural economy. Now, it is the responsibility of the state government to focus on overall growth of the state and address the issues of backward regions. We hope that the MNC is pursued to invest in the Mega Food Park at Paithan and give an impetus for the agriculture growth in the region,” he added.


“With minister Arun Jaitley making an allocation of Rs 1804 crore for skill development and announcing to set up 1500 multi skill training institutes and National Board for Skill Development Certification in partnership with the industry and academia, we hope that at least this time considering on-going projects like Delhi-Mumbai Industrial Corridor (DMIC) and Dry Port, in Aurangabad the city gets some of these projects,” said Sandeep Nagori, CII Marathwada Zonal chairman.


Meanwhile, Marathwada Association of Small Scale Industries and Agriculture (MASSIA) secretary Sunil Kirdak said, “Increase in the turnover limit under presumptive taxation scheme to Rs 2 crores will bring big relief to a large number of assesses in the MSME category. In the past 5 to 7 years, new investment in MSME sectors in Aurangabad had stalled, but this announcement will encourage around 4000 technocrats to set up units in the city to make investments in new ventures.”

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