Financial Daily from THE HINDU group of publications
Thursday, Jan 02, 2003
Industry & Economy
Foods & Food Processing
Food processing industry laws to be streamlined
VIRUDHUNAGAR (TN), Jan. 1
THE Ministry of Food Processing Industries would be promulgating a single law soon to ease the woes of entrepreneurs, the Director of Food Processing, Mr Venkataramani, said.
Addressing a one-day seminar on `Investment Opportunities in food processing' jointly organised by Indian Food Park, Virudhunagar and the Tamil Nadu Chamber of Commerce and Industries, Madurai, at Indian Food Park campus at Palavanatham near here, Mr Venkataramani said currently there were twenty seven different laws to be complied with by the entrepreneurs.
Stating that all viable projects would be cleared in sixty-day period, he disclosed that two special incentive proposals were under consideration of the Ministry. One was to enhance the ceiling on subsidy from 25 per cent to 33 per cent and the other to extend the benefits of agri-export zones for the units set up at Indian Food Park.
He said the allocation to the sector has been increased in the 10th plan.
The Ministry has been planning to organise a campaign to dispel the misconception that processed foods were for the rich and affluent, he added.
Speaking on the occasion, Mr Sivashankar, Chief Regional Manager, Indian Overseas Bank, said that a special rate of interest for the loans from the bank for the units set up at the Park, was being discussed.
Presiding over the seminar the President of the Tamil Nadu Chamber of Commerce and Industries, Mr S. Rethinavelu, said the emergence of Indian Food Park has opened up avenues for the small and medium sized units.
He urged the Ministry to relax the rules and regulations for the sector and not to dispense with excise duty exemption benefits to the sector.
The technical sessions were addressed by faculties from DFRL, Mysore, APEDA, Banana Research Institute from Trichy, Coconut Development Board, Chennai, National Horticulture Board, Chennai and Avinashilingam University, Coimbatore.
More than 225 persons participated in the seminar.
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