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The CEOs of the several food processing and FMCG firms have demanded a 100 per cent tax holiday for food processing units. They pointed out that the sector is poised to be the growth driver of the country's economy.
At a CEO round-table organised by Confederation of Indian Industry (CII) here, the industry representatives also urged the Union Government to concedre the long pending demands such as uniform implementation of Agricultural Produce Marketing Committee Act, promotion of cold chain industry on prive public partnership basis, fast implementation of GST for a harmonised tax structure, exemption of import duties on machinery and raw materials, and establishment of quality food laboratories.
Lack of proper infrastructure in the sector is resulting in a wastage of Rs 30,000-crore food every year.
Mr Rakesh Kacker, Secretary, Ministry of Food Processing Industries, said: “The sector grew by an average of 8 per cent between 2006 and 2010. This is higher than the growth of the manufacturing sector. Agriculture has also been growing 2-3 per cent which means we are adding more value to agriculture.”
However, the Government is looking at resolving certain problem areas of the sector such as land, he said.
He said that cold chains have been doing quite well with eight already being set up. Another 10-15 will come up by the end of this fiscal and the Government had approved another 30 new projects last month.
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