The food processing sector has the capacity to attract Rs 5,000 crore of investments by 2020
AP Food Processing Unit CEO Y.S. Prasad addresses the industrialists at a conference in Vijayawada on Wednesday. (Photo: DC)
VIJAYAWADA: The AP Chambers of Commerce and Industry Federation (Andhra Chamber) along with AP food processing society conducted a conference in the Gateway hotel on Wednesday, to initiate and increase more food processing units in the newly formed state.
The food processing sector has the capacity to attract Rs 5,000 crore of investments by 2020 and can produce 50,000 additional employment opportunities in the state. Speaking on the occasion, Y.S. Prasad, CEO, AP Food Processing Society, said government has stretched out its hands to the budding entrepreneurs and added that with full development completed they can reap the benefits.
He further said that the NABL accreditation laboratories for product quality checking, which alone costed Rs 20 crore, are nowhere to be found in AP. Nabard CGM Harish Java said they have been supporting the processing units in the district since many years and have a Rs 200 crore fund to support those in need of funds. He also stressed on coastline, which has abundant resources like fish and meat and can explore more opportunities. Srini Food Park CEO N. Ravindra explained his efforts and market reactions on processed items in the initial days of food processing sector.
( Source : deccan chronicle )
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