Comments
Soya food major Ruchi Soya and international civil society organisation Solidaridad have entered into an agreement to scale up palm oil production in the country.
The agreement worth €4.5 million was signed in the presence of Dutch Prime Minister Mark Rutte on Friday.
According to the agreement, Ruchi Soya will share 55 per cent of the investment and Solidaridad the rest. India consumes 19.65 million tonnes of edible oil, of which 13.5 million tonnes are imported; palm constitutes 8.8 million tonnes of the total import. The five-year project envisions making palm oil available and sustainable for the Indian market, saving at least 1.5 trillion litres of water in palm oil production .
Solidaridad has in a release said that the project will work on the principle of Make in India and More Crop per Drop. The Founder and Managing Director of Ruchi Soya Industries Dinesh Shahra said, “Our endeavour is to ensure that the Indian farmers get the best quality of inputs and modern technology that can help them scale their productivity to global standards”.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.