"Senior officials of Agricultural Product Export Development Authority (APEDA) will visit the Gulf region to meet food importers and health authorities to pave the way for exports of fruits, vegetables, poultry and meat," Commerce Minister Kamal Nath told reporters at India-GCC Industrial Forum here.
"If we are exporting agricultural products to the US and Europe why not to our neighbours in GCC," he added.
Indian farm and food processing sector has been identified as a priority area by the government. The investment demand for the sector is about USD 15 billion, Nath said. The government has made several legislative and policy changes to attract foreign investors to the farm sector.
India and the Gulf Cooperation Council (GCC), comprising UAE, Qatar, Oman, Kuwait, Bahrain and Saudi Arabia, have proposed to jointly set up a company to promote SMEs.
"A company with an equity capital of USD 50 million would be formed to lead SMEs . It will study projects, contribute seed capital or look at joint venture opportunities," Oman Maqbool Commerce Minister Ali Sultan said.
Nath said that India was now reaching out into the neighbouring region as a new economic architecture sets on.
"The old doors and windows of US and Europe do not have the same relevance as before and the new relationships will be built in the regions," he said.
A total of four MOUs were signed between Indian companies and representatives of GCC in the areas of steel, oil and gas, logistics and waste management. Read more India news at: http://www.zeenews.com
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