EMAAR, a company based in the United Arab Emirates (UAE), has shown interest in investing in the Indian food processing sector. It is in talks with the Government of Maharashtra regarding a possible investment opportunity in the state.
Sources have stated that the government of the western Indian state and representatives of the Middle-Eastern firm have had initial-level talks in this regard. The management of the latter is likely to take a call on the investment in the food processing sector a month from now.
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| EMAAR keen to invest in Maharashtra’s food processing sector; image source- Google |
Devendra Fadnavis, chief minister, Maharashtra, was in Delhi recently for a meeting chaired by prime minister Narendra Modi.
“During the prime minister’s visit to the UAE, there was a discussion on food security issues. For the same, an EMAAR delegation will visit many places, including Mumbai, to assess the opportunities,” he stated.
“In the Middle-East, the production of food grains, fruits, and vegetables is low, owing to the weather and soil conditions, and there is a need for proper food processing, as they have to depend on other nations for processed food,” Fadnavis added.
“So, as the UAE has consented to provide oil security to India, and the latter has consented to provide food security to the former, the Middle-Eastern nation has evinced interest in investing in a big way in India,” he said.
The Maharashtra chief minister added, “The government is working on supply chain management, which will help to reduce food and grain wastage and price fluctuation of few commodities like onions and tomatoes. It is making a presentation to various bodies.”
Fadnavis said, “EMAAR intends to invest in the food processing sector in Maharashtra, Madhya Pradesh, and Gujarat. A team representing the company arrived in Mumbai from the UAE and zero in on their plans for investment in next 30 days.”
“This will give us an assured buyer for our vegetables, fruits, food production, etc., and, in turn, bring more money in our farmers’ hands and will prevent wastage of food,” he added. |
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