Investments in cold chains in India could reach $15 billion in the next five years, according to a report.
The report by Institution of Mechanical Engineers (IMechE) stated cold chains running on renewable energy can help in cutting down loss of perishable items like fruits and vegetables, which runs as high as 40 per cent of the total fresh food produce.
London-headquartered IMechE is a professional body of engineers with over 100,000 members in more than 140 nations.
“India’s investment in cold chain is forecast to be $15 billion over the next five years,” the report said adding to ensure this investment is sustainable and cost effective, there should be a thrust on using renewable energy sources.
“Investment in cold chain infrastructure driven by renewable energy is the key to prevent loss of perishable food, alleviating world hunger, improving health through better nutrition and improving air quality,” IMechE, Head of Energy and Environment, Tim Fox said here.
The government, NGOs and retailers should take steps to establish cold chains which use renewable energy like solar power,” he added.
Out of the total farm exports of $37 billion, fruits and vegetables account for just about $1.5 billion, the report said.