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ITC keen to set up food processing park in TS
Telangana IT Minister K T Rama Rao, while reiterating that TS would emerge as leading destination for investments, said on Thursday that the diversified business conglomerate ITC Group evinced interest in establishing a major food processing park in Telangana.
IT Minister KTR says the diversified group is also establishing new five-star hotel in Hyd with an investment of `700 crore
Hyderabad: Telangana IT Minister K T Rama Rao, while reiterating that TS would emerge as leading destination for investments, said on Thursday that the diversified business conglomerate ITC Group evinced interest in establishing a major food processing park in Telangana.
“ITC has come forward to establish food processing park in Telangana. When representatives from the company met Chief Minister recently, they made specific proposals for the park. We have requested them to set up the facility either in CM’s constituency of Gajwel or any other place close to Hyderabad,” Rao told media at the inaugural session of the two-day National Summit on Packaging organized by Indian Institute of Packaging (IIP) here. The IT Minister however did not disclose how much investment ITC would make into the park as the discussions were still on, but said that more investments in food processing would give a boost to the packaging industry in the new State. “With a giant like ITC setting up such park, Telangana will become a hub for food processing,” Rao said.
He further said that the State government had recently cleared a pending proposal of ITC Group to set up five star hotel in Madhapur area. “The group is investing Rs 700 crore into the ITC Kohinoor Hotel besides expanding its paper plant in Bhadrachalam with an investment of Rs 3,000 crore,” he explained.
Earlier delivering inaugural address, he has urged the packaging industry to come up with new ideas and products to extend shelf life of Hyderabad Biryani and Haleem, which are the unique offerings of the city.
The Minister also underlined the need for recycling of used packaging materials. “This way, we will not only create wealth from waste, but also take care of the environment. Our government will extend all possible support in this regard,” he said.
K Satish Reddy, Chairman, Dr Reddy's Laboratories, maintained that packaging was now playing a key role in pharmaceutical industry. “Earlier, pharmaceutical companies like ours had just focused on molecules and medicines. But that is not working now as there is intense competition in the market place and we need to differentiate,” he said.
Revealing that Dr Reddy’s had come out with innovative solutions to make its products patient friendly, he said innovative packaging would also control counterfeiting of drugs.
Over 250 delegates from India and abroad are participating in the two-day summit which is discussing on the issues related to ‘Packaging for Tomorrow’. The packaging industry in India which is estimated at $24.6 billion is growing at 15 per cent annually. The industry which currently employs 5 lakh people is expected to reach $32 billion by the year 2025, said the organisers.
