The US-based food major Griffith Laboratories will set up a manufacturing unit in Bangalore to tap the potential offered by the Indian processed food market. The proposed manufacturing unit will also house an exclusive research and development centre, he said.
The company plans to pump three to five million dollar for the initial development of the project, Dean L Griffith, chairman of the 600-million Chicago-based company said after meeting Food Processing Minister Subodh Kant Sahai in New Delhi but did not give further details.
The manufacturing unit in India, which a company official said is expected to start production in 10-12 months, will be the company's 21st base across the world.
"The endeavour to provide big push to processed food sector has already been started," Sahai said and added that the investment commitment by the US food major would boost future investment in food processing sector.
The minister reiterated that his ministry would act as a facilitator to such investment endeavours in future too.
"The processed food industry including the ready to eat food segment will receive a boost with this investment plan," said A N P Singh, joint secretary at the food processing ministry.Griffith would soon sign an MoU with Karnataka government towards setting up of the production unit, said Shayam Mohan, managing director of Indian subsidiary of the US company.