We all that the dairy industry in India plays an important role in the socio-economic development of India. They cater to the needs of the vast population of India by providing cheap nutritional food. It also plays a pivotal role in generating huge employment opportunities for those residing in the rural areas of India. Involvement of various dairy companies has contributed vastly to the successful dairy innovation in India.
Central Ministry of Agriculture is the backbone of the Department of Fisheries, Animal Husbandry and Dairying in India. It is this ministry that handles all the development that takes place in the dairy industry. The department also provides necessary advice and formulates programmes and the policies for the development of dairy industry. They also handle the matters related to the production as well as the preservation of the livestock farms. In order to focus on the dairy industry an institution known as the National Dairy Development Board was set up in 1987. The reason for the setting up of the board was to fasten the pace of dairy development and lure new investments. Since the dairy industry ensures good returns a lot of investors are willing to make an investment in this sector.
How is the dairy industry in India able to attract new foreign investment?
There are a number of reasons why the dairy products manufacturers are capable of attracting a huge foreign investment. One, the basic raw material that is needed for the dairy farming is available in abundance in the country. Two, there is a bounty of technically skilled labor in India. These people are willing to spend their life in the farms to make a living. Third, the technological infrastructure is available easily. Lastly, all the key elements that may be needed for the free market system are readily available in India.
Sectors in the – Dairy industry in India
There are different sectors within the dairy industry that ensure good business investment offers.
- Biotechnology
Cattle of India yield much more milk as compared to their counterparts. Cow farming in India is sacred and the breeders are constantly on the lookout for accentuating the milk yield. Thus a lot of investors are willing to invest in the dairy cattle breeding of the supreme quality cows and buffalos. - Dairy/Food Processing Equipment
Foreign investors see huge potential in making an investment in these cost effective and high quality machineries and equipments. - Food Packaging Instruments
There is a huge scope for the foreign investors in manufacturing of the packaging instruments that help in the development of stronger brand loyalty. - Retailing
Retailing of the dairy products also invites huge investments. This aids in gradation and standardization of the dairy products in urban cities. - Different sectors
Sectors such as manufacture of ingredients, finished products and technically advanced manufacturing units also involve huge foreign investments.
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