New Industrial policy to encompass AI, IoT to open new vistas for investments

In a bid to give a fillip to the industry and an impetus to trade and industry, the government is expected to announce a new industrial policy soon. The proposed policy will encompass the use of new technologies such as Artificial Intelligence and IoT which will open new avenues for investments in India.

Speaking at an event organized by FICCI in association with Koelnmesse GmBH, Rajiv Aggarwal, Joint Secretary, Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Government of India, said, "The Food Processing Sector is one of the emerging sectors in our country. The government of India’s policy regime and robust business environment have ensured that foreign capital keeps flowing into the country. The government will relax FDI regulations to give a boost to the Food Processing Sector.”

While sharing his views via a video message, Suresh Prabhu, Minister for Commerce and Industry, Government of India, stated that India produces 600 million tonnes of agriculture and horticulture products. "We are working on different areas like agriculture policies, export and import policies, and food parks to boost the growth of the industry. Annapoorna World of Food India 2018 is a great platform which gives an opportunity to connect with all the stakeholders and explore various possibilities of growth”.

The three-day event is being attended by buyers and sellers from 30 countries with 297 exhibitors showcasing the latest technologies and trends in the food and beverage industry, where 7,000 scheduled B2B meetings are to be held. The special seminars during the event will focus on the emerging trends and investment opportunities in the Indian Food Processing Sector.

L N Gupta, Additional Chief Secretary, Department of MSME, Government of Odisha and Dr Satyanand, Commissioner, Horticulture, Government of Madhya Pradesh, also shared details on the trade and investment opportunities in their respective states and urged the industry to exploit the potential.