Salman Kurshid in Muscat

Muscat Dec 10,2010 (Bhatkallys News):Oman and India have huge potential for strengthening cooperation in food processing and fertiliser industries, Salman Khurshid, minister of state for minority affairs and corporate affairs, said here today. "We have a huge potential as far as the food processing industry is concerned. I think both countries can share technology, raw materials and markets in developing the food processing sector," Salman Khurshid said.
Khurshid, who is in Muscat as a special guest to represent the Indian government in the celebrations of the 40th anniversary of the Sultanate's National Day, said that India is not utilising 30 to 35 per cent of its farm produce, mainly due to lack of cold storage chain to preserve the perishable goods and take it to the factories. "Therefore, a lot of agricultural produce goes waste. A lot can be used here as well as in India. This is an important area of collaboration."
The Indian minister said that the funds for setting up a food processing industry in India can be channelised from the recently set up Oman India Investment Fund. Khurshid added that another important area for joint investment is in the fertiliser sector.
Oman recently agreed in principle to inject $3 billion for reviving few Indian fertiliser plants that are closed down and expansion of Rashtriya Chemicals and Fertiliser plant. The sick plants belong to Fertiliser Corporation of India (FCI) and Hindustan Fertiliser Corporation.
The minister also addressed the Indian community at the Indian Embassy auditorium at a function organised by the Embassy of India and the Indian Social Club. Anil Wadhwa, ambassador of India and Dr Satish Nambiar, president of the ISC, addressed the gathering.