MoC&I-YES BANK-TPCI released report titled ‘Opportunities for Food Imports from India’ at Indus Food 2018
Shri Suresh Prabhu (Union Minister of Commerce & Industry) unveiled the report in the presence of Shri Devendra Kumar Singh (Chairman, APEDA), Shri Pawan Kumar Agarwal (CEO, FSSAI), Shri Santosh Kumar Sarangi (Joint Secretary, Ministry of Commerce & Industry)
New Delhi, 22 January, 2018: YES BANK (India’s fifth largest private sector bank) together with Ministry of Commerce & Industry (MoC&I) & Trade Promotion Council of India (TPCI) released a publication titled ‘Opportunities for Food Imports from India’ at Indus Food 2018: Global Food & Beverage Show, held at India Expo Mart, Greater Noida.
The knowledge report provides an extensive overview of import and investment opportunities in India’s vibrant food sector. The report identifies India as a major exporter of commodities and has huge opportunities in export of organic, fruits & vegetables, processed food and Indian ethnic food. .
The Summit was organized by TPCI and supported by Department of Commerce, GoI and Indus Food (a buyer-seller meeting forum, which brought together key domestic as well as International stakeholders from the F&B industry).
Release of MoC&I-YES BANK-TPCI Knowledge Report Opportunities for Food Imports from India at the Indus Food 2018 on Jan 18 in Delhi
Speaking on the occasion Mr. Rana Kapoor, MD & CEO, YES BANK and Chairman, YES Global Institute said, “Given India’s rich resource base, location advantage and supportive policy reforms towards ease of doing business, India should aim at doubling farm exports to USD 60 Bn in the next 5 years. To create a strong presence on the global trade canvas, it is critical to put in place reforms at farm, infrastructure and trade level. I firmly believe that the Government’s recent initiatives in developing R&D facilities, farmer extension and FPO formation, better market access, setting quality standards, developing processing infrastructure and improving agri-marketing infrastructure, are positive moves.
Moving beyond the commodity-ingredient-products continuum, better collaboration between Ministry of Commerce and State Agriculture Departments for key commodities, provision for refrigerated vans linked to superfast trains especially for poorly connected areas and a dedicated green channel in key sea ports, amongst others, will further boost India’s potential as a food exporter.”
Speaking on the occasion Shri Suresh Prabhu, Hon’ble Commerce & Industry Minister, said, “Agri-product export strategy will change the export scenario in the country. Not only will it double the farmers' income, but also give them a choice of so many buyers to sell their produce. I’m sure it will benefit all farmers, whether big or small. Indus Food is a very good step in that direction. We are working on a marketing strategy to diversify the export basket and we will offer it to the industry. The Government is committed to increase the ease of doing business and make India a leading destination for various products and services in the world.
About YES BANK ‘Food and Agribusiness Strategic Advisory and Research’ (FASAR)
YES BANK has domiciled ‘Food and Agribusiness Strategic Advisory and Research’ (FASAR) Group to actualize its knowledge based focus and commitment for the holistic development of the food & agribusiness sector. The group provides a unique synergy between lending & domain knowledge expertise to position YES BANK as a preferred financial institution among all stakeholders in F&A ecosystem. FASAR has been working closely with key ministries like, Food Processing, Agriculture, Commerce & Industry, and various State Governments and Multilaterals on several policy initiatives and strategic advisory mandates; the group is also advising the industry, both international & domestic, on market entry, expansion & diversification; market research & feasibility study; infrastructure, supply chain & logistics advisory; JV formulation and equity infusion, project advisory amongst others. As part of its commitment to support entrepreneurship, FASAR has been fostering, mentoring start-ups and supporting innovation & technology in the food & agri ecosystem.
Some key flagship food & agri initiatives where YES BANK has associated are, Agri Udaan 2.0 (Food & Agri accelerator of ICAR-NAARM & DST). World Food India 2017 (by Ministry of Food Processing Industry), YES BANK-NASSCOM #FutureAgriTech Summit, Indus Food amongst others.
About YES BANK
YES BANK, India’s fourth largest private sector bank is a high quality, customer centric and service driven Bank. Since inception in 2004, YES BANK has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 28 states and 9 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
For more information, please visit the Bank’s website at http://www.yesbank.in/