UAE-India food corridor investment to boost food processing startup
The UAE-India food corridor, in tune with the UAE National Strategy for food security is projected to draw investments of up to $7 billion from the Emirates and will take the country one great step further towards achieving food security. In this context the 2021 Gulfood Startup Programme focused the panel discussion on the UAE-India food corridor.
The Gulfood Startup Programme connects promising food and beverage Startups with investors and business partners from all around the world to forge long-lasting business alliances with mentors, industry leaders, government bodies and clients. The panellist consisted of John Kingsly the MD and Secretary MPIDC, Madhya Pradesh Government and Poonam Malakondaiah, Special Chief Secretary, Andhra Pradesh Government. The panel discussion was moderated by Bhushan Yengade, the Founder – Food Industry Consultant of Binder Technology Consultancy. India is a global bowl food. The government of India has been reshaping the food processing ecosystem in a new format with UAE investors. The Covid-19 era opened the doors for the food processing Startup innovation. This panel discussion highlighted understanding Indian food processing scenario and government assistance to promote food processing. India leads in the production of cereals, fruits and vegetables, milk, meat, fishery pulses etc. This corridor has opened the door for many UAE investors to step ahead to invest in India for the food security concerns. The startup panel discussion opened on the state presentation note by Andhra Pradesh and Madhya Pradesh. Both the states highlighted the opportunities startup and emphasised on the government strategy to promote the food industry startup, investment opportunities, role of logistics and supply chain and how both governments can establish a supply chain to suffice the food need of the UAE. Bhushan Yengade stated the significance of the UAE-India food corridor and how it will boost trade and food security. Being the food processing consultant in the food industry project management he also elaborated the challenges for the entire Startup companies and how India could build the ecosystem in this competitive edge. Binder Technology Consultancy is involved in providing food processing industry project management, technical, market research and training services.
India-UAE trade in context with dates, rice, mineral water, pulses, and wheat has been consistently growing. The UAE also imports fruits and vegetables from India. In overall trade India is UAE’s top exporter and importer as well. Food processing is the only way for food security. This food corridor initiative would help the startup companies to build the supply chain model. This model would help the companies to establish their food processing infrastructure. Its utmost need for startup companies to prevent post harvesting losses and enhance value addition. The startup India initiative was launched in 2016 since then it has been linking the academia, industry and government. Since then the food and beverage processing startup culture has been attracting international investors. The entire panelist discussed the bright future in terms of tackling food security by the food processing for UAE and India.
Source – fnbnews