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The Hindu
27 minutes ago
- The Hindu
Saudi Arabia, South Africa look at India's food tech to boost production
Saudi Arabia and South Africa with high production of dates and agriculture produce respectively are seen banking on Indian innovation in food tech to achieve food security in their nations and boost production. 'Africa's food and beverage industry, valued at $313 billion, is projected to reach $1 trillion by 2030, offering immense opportunities for jobs, prosperity, and integration into the global economy,' Labane Gideon, Consul General of South Africa in Mumbai. 'With agriculture still accounting for over 60% of Africa's value chain, compared to 22% globally, investments in value-added processing and branded products are critical to unlock this potential,' he said while speaking at Anuga FoodTec India and Anuga Select India 2025 expo organised by Koelnmesse India in Mumbai. 'South Africa, with a strong food processing industry and key exports including wine, fruit juices, and food additives, recognises India as a vital partner' he said adding 'We are more interested as Africa and especially South Africa in the technological aspect of agriculture as far as India is concerned because we are still slightly lagging behind when it comes to that.' Majed Al-Otaibi, Charge d'Affaires, Royal Embassy of Saudi Arabia said Saudi Arabia is a long- standing partner of India and The Kingdom as the home to more than 37.1 million palm trees, producing around 1.1 million tons of dates annually is seeking partnership to bringing the dates to every corner of the globe. 'Nations, businesses and investors are invited to join this journey,' he said adding ' We are exploring all kinds of opportunities between our two countries and we are exchanging all the experiences and also we are exploring more and more opportunities.' Meanwhile, India's food processing & ingredients sector growing at 8.8% CAGR, is projected to double by 2030, while food-tech outpaces global benchmarks at 14% CAGR, according to experts. Rising demand for clean-label, functional, and health-conscious foods is driving AI, IoT, and digital traceability adoption across the F&B value chain, they said. With India's food processing sector projected to be among the fastest-growing industries in the coming years, the government has permitted 100% Foreign Direct Investment (FDI) in the F&B segment. Reflecting on the opportunities in India's food processing and ingredients sector Nilesh Amritkar, Managing Director, Envirocare Labs said, 'India's food processing and ingredients sector is expanding at a healthy 8.8% CAGR and is set to double by 2030, establishing our country as the food factory of the world, from farm gate to global plate.' 'At the same time, India's food-tech ecosystem in areas like hardware, software, AI, cold chain, and precision processing is expected to outpace global benchmarks at over 14% CAGR by 2030. This shows how innovation is no longer important; India is now exporting food technology to the world,' he said. 'Even with challenges such as tariffs, sanctions, and 50% export loading restrictions, our industry has demonstrated 100% resilience by rerouting supply chains and diversifying markets. Strong policy support including PLI-like schemes, Make in India, Mega Food Parks, NIFTEM institutes, and MoFPI programs like PM-FME is creating the right ecosystem for growth, entrepreneurship, and R&D-led innovation,' he added. Speaking at the event Seetharaman Raghupathi, Executive Director, National Dairy Development Board (NDDB) said the White Revolution 2.0 initiative aimed at establishing 75,000 new cooperatives by 2028–29, would further boost the growth of India's dairy sector ensuring food security. Milind Dixit, Managing Director – India & SAARC, Koelnmesse Pvt. Ltd., said, 'With the global food processing market projected to surpass $4 trillion by 2030 and India expected to emerge among the top three markets worldwide, these shows [Anuga FoodTec India and Anuga Select India 2025] provide an invaluable platform to access next-gen technologies, embrace sustainable solutions, and build long-term collaborations.'
Time of India
42 minutes ago
- Time of India
Hyderabad among top 7 life sciences clusters globally
Hyderabad: Telangana's thriving life sciences sector has propelled Hyderabad into one of the top seven life sciences clusters in the world and the only Indian city to achieve this distinction, IT & industries minister Duddilla Sridhar Babu said on Wednesday. Tired of too many ads? go ad free now He said the sector attracted investments worth Rs 54,000 crore since Dec 2023, resulting in the creation of 2 lakh new jobs in pharmaceutical manufacturing, medical technology, and vaccine production. Pointing out that global giants such as Eli Lilly, Amgen, MSD, Zoetis, Evernorth, and Olympus have already chosen Hyderabad as their preferred GCC hub, he said Telangana will soon unveil its next-gen life sciences policy, which will be a "cutting-edge policy framework designed to attract large-scale investments." Sridhar Babu also said the state set an ambitious target to scale up its life sciences economy to $250 billion by 2030, with an eye on making Telangana the life sciences capital of Asia. The minister, who chaired the 6th board meeting of the Telangana Life Sciences Foundation in the city during the day, also proposed the preparation of a feasibility report for establishing the Telangana School of Life Sciences. The foundation's board members include Dr Reddy's Laboratories Chairman Satish Reddy, Laurus Labs CEO Dr Satyanarayana Chava, special chief secretary Sanjay Kumar, and Telangana life sciences director Shakti Nagappan.
Deccan Herald
42 minutes ago
- Deccan Herald
Russia has 'special mechanisms' to supply oil to India
Russia will continue supplying oil to India and the country's President Vladimir Putin will meet India's Prime Minister Narendra Modi in New Delhi by the end of year, a Russian embassy official in India said on Wednesday. Russia has a "very, very special mechanism" to continue oil supplies to India, Roman Babushkin, the charge d'affaires at the Russian embassy in India, told reporters at a press briefing, adding that India's crude oil imports from Russia will remain at the same level. No dates had been finalised for the Putin-Modi meeting yet, he said. The U.S. is set to impose an additional 25% tariff on Indian exports on August 28, citing their imports of Russian oil, which expanded after Western nations sanction Russian supply after its invasion of Ukraine. However, the U.S. has stopped short of imposing similar tariffs on China over its purchases of Russian oil. Last month, the European Union sanctioned Russian-backed Indian refinery Nayara Energy, leading the refiner to cut back processing and companies to curtail their trading with them. Trade between Indian and Russia was expected to grow 10% annually, Evgeniy Griva, Deputy Trade Representative of Russia to India said at the briefing.
