Australia, the world's biggest exporter of farm products, is looking for opportunities to enter the Indian food-processing market by forming joint ventures with the agro-sector of India.
Warren Truss, the Australian trade minister said, "An India-Australia Joint Ministerial Commission meeting in New Delhi had endorsed proposals for Australian companies to participate in the Indian food-processing sector," as per news published by theFinancialExpress. He further added, "Both countries would work to boost Australia's participation in the Indian food-processing sector".
India, the second largest agriculture products producer in the world is largely self-contained. But, despite the rising demands for the wide selection among the high-income residents for processed food & beverage, only 2% of total edible output of agricultural products is commercially value-added, according to Food Biz. This provides a tremendous opportunity for Australian food producers.
"Australia is also upbeat on the prospects of increased export of food products and beverages to India. On an average, Australia exports $150 million worth of food products and beverages to India every year. In turn, India exports $40 million worth of food products to Australia every year, as per theHinduBusinessLine." Moreover, India is now upgrading the Indian farm sector, and seeking immense investments to enhance the processing capacities & cold chains; as it's looks forward to diversity its crop mix.
The diversification movement of crops launched has gained wider recognition among farmers. This alternative crop's Govt. strategy is to motivate farmers to move out from intensive system of cropping with water that requires less water for irrigation such as Jatropha, Sugar Beet, and Sweet Sorghum has been chased vigorously. The Agriculture Univ. of Tamil Nadu is in the process of developing jatropha's hybrid variety that will produce almost double oil as compared to other extraction of mostly used variety of crops.
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