Shri Subodh Kant Sahai Urges Taiwanese Business Delegation to Invest in India

Shri Subodh Kant Sahai, Minister of Food Processing Industries has said that there is a huge potential for investment in food processing sector in India. Addressing the Indo-Taiwan Meeting on Food Processing Sector here today, Shri Sahai said that Taiwan has invested heavily in many countries including China whereas it spent only 1 per cent in India. He reminded the Taiwan Business Delegation that India presents a huge potential for investment as our population is more than 1 billion and 60 to 70 per cent of this population is of young age and their buying capacity is more than 40% of their salary. The Minister informed the delegation that India is producing so many things in large quantities but processes very small quantity; on the other other side Taiwan produces small quantities but processes large quantities of its products. This calls for mutual cooperation, Shri Sahai said. This is all because of new technology being used by Taiwan. Shri Sahai urged the Taiwanese delegation that they can invest in Cold Chain as well as there is a large scope of it in India in near future.

Addressing the meeting ambassador of Taiwan Shri Philip Wen- Chyi Ong said that his country would definitely like to increase investment in India as India has a great protential in various sectors, including food processing. Shri Murugesh Nirani, Minister for Large and Medium Industries, Government of Karnataka, and Shri Ashok Sinha, Secretary, Ministry of Food Processing Industries also spoke on the occasion.

VLK/ska