Ise commits Rs.217 crore investment

Japan and India have decided to strengthen cooperation in the field of food safety for promoting investment by Japanese companies in the Indian market.

This was underlined as Ise Foods Inc committed a Rs.217 crore investment in poultry farm and egg processing, as part of its Ise-Suzuki India Mega Project Telangana.

Ise signed a Memorandum of Understanding with the Ministry of Food Processing Industries (MoFPI) in New Delhi on 14 March 2018.

The MoU was signed in the presence of Special Advisor to the Prime Minister of Japan, Mitsuhiro Miyakoshi and the Chairperson of the Food Safety and Standards Authority of India (FSSAI), Ashish Bahuguna.

A FSSAI delegation will visit Japan for strengthening food safety cooperation during which a meeting for information exchange on food safety will be held.

Parag Gupta, Joint Secretary, Ministry of Food Processing Industries, said there was much more potential for Japanese companies to invest in India.

He highlighted the potential of applying Japanese technology and know-how in terms of food processing in India.

Miyakoshi stressed the importance of cooperation pointing to the agreement on the form of phytosanitary measures on the marine food trade between India and Japan and the setting up of a Joint Working Group on Cold Chain between the two countries.

Bahuguna said the FSSAI was focussing on both food safety and nutritional value of Japanese food.

The Ise MoU is a stepping stone in further strengthening bilateral cooperation between the two nations, added Rakesh Bharti Mittal, President Designate, CII.

Mitsubishi Corporation India Private Ltd, Yakult Danone India Pvt Ltd, Tomato Private Limited were among others.

CII and JETRO organized a forum at the MoU signing in New Delhi, on 14 Mar 2018. fii-news.com