NEW DELHI: Uttarakhand has untapped potential to become one of India’s top regions for food processing and agri biotech, say a study conducted by industry body Assocham.

The study paper titled “Uttarakhand: Unbounded Opportunities” says within the next five to seven years the state will witness Rs 50,000 crore investment in food processing, agri biotech and pharma institutes

Fruit like apples, oranges, pear, grapes peach, plum apricot, litchi, mangoes and guava are widely grown in the state and therefore have immense potential for development of horticultural crops.

Places like Musoorie, Rishikesh, Chamoli, Rudraprayg, Tehri, Uttarkashi, Almora, Naintal, Pithoragarh and Champawat are a repository of rich variety herbs, offering opportunities for pharma institutes to start operation here.

Over 170 medicinal and aromatic plant species are grown in their foothills.

The state’s 85 percent gross cultivated area is used for self-consumption for households and thus there is need to enhance agri, biotech, horticulture and floriculture crops productivity and production in it.

Plans are afoot to set up four agri export zones and one biotech park in the State. The state can acquire Top 10 rank in fruit and vegetable productions by way of using innovative agri biotech varieties of technologies.

More training institutes will impart professional training to enable its talented pool to gear up for food processing, agri and biotech companies.

The paper suggested the proposed institutes should be given fiscal incentives such as a 10-year tax holiday, easy availability of loans with moderate interest to garner free flow of domestic and overseas investments to the state.

ASSOCHAM Press Release

News Source: http://www.commodityonline.com