Recognising India as a highly promising market for the food sector, a Dubai export promotion agency has held a networking session here to link key Indian suppliers to the UAE.
Dubai Exports, the export promotion agency of the Department of Economic Development in Dubai, hosted the networking session between prominent companies from India and exporters in the UAE.
The networking session was attended by 70 supplier firms from India and Dubai Exports facilitated 90 business-to- business meetings between the two sides during the exhibition held in Dubai from February 8-12, a statement released here said.
It was part of linking key suppliers in India to the UAE as a major source market, it said.
"Dubai Exports and its overseas offices play a pivotal role in supporting local exporters through varied programmes. The International Buyers Programme is one among them and it includes organising missions and platform for buyers and suppliers to connect with exporters in the UAE across hosted meetings," Mohammed Ali Al Kamali, Deputy Chief Executive Officer of Dubai Exports, said.
Kamali said India was a strategic market for Dubai and the UAE in general and the Indian economy is projected to grow 6.7 per cent on average during 2015-2019 according to the Organisation for Economic Co-operation and Development (OECD).
"Economic dynamism along with the size and diversity of tastes automatically make India a highly promising market for the foods sector," Kamali said.
"The dairy industry in India has emerged remarkably stronger post the 'White Revolution' and continues to grow. By 2020 the combined strength of the organised and unorganised dairy sector in India will reach formidable levels," said Naema Bannai, Manager of Overseas Office Services at Dubai Exports.
"Abundance of resources and domestic demand will enable the Indian foods sector to venture into new products, services and partnerships," Bannai said.
The Government of India has also set up a fund to help its National Bank for Agriculture and Rural Development (NABARD) extend low interest loans to food processing units.
The fund is expected to benefit a variety of industry players including large industry chains and lead to an efficient food processing industry infrastructure.
