Centre's move on food processing industries hailed

Staff Reporter

MADURAI: The Madurai District Tiny and Small Scale Industries Association has hailed the initiatives taken by the Union Government to set up an Export Market Development Fund and an Agri-Business Development Bank of India to support the agro-based food processing industry.

In a release issued here on Friday, the association president, S. Aravind, said a separate bank, a separate legislation and financial and credit delivery system would be a boon to agro-based food processing industry to tap the growing global and domestic market.

Thanking the Union Secretary, Ministry of food processing, S.P. Singh, for suggesting to the commercial banks, NABARD and EXIM Bank, to set up a dedicated financial and credit system to support agro-based food processing industry, Mr. Aravind said the draft model contract bill, circulated to the State Government, would help to bring the farmer and processor closer.

A separate legislation for food processing industries had been a long pending demand, he added.

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