Policy balance
The recent appointment of Sanjay Malhotra as Governor of the Reserve Bank of India (RBI), replacing Shaktikanta Das, signals a pivotal shift in India’s monetary policy dynamics.
Union Minister of Food Processing Industries Harsimrat Kaur Badal held a video conference with the promoters of the completed Integrated Cold Chain Projects.
The promoters of 38 cold chain projects participated in the Video Conference. The promoters interacted with the Union Minister of Food Processing Industries and shared their experience gained/ problems faced in completing the projects.
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Further, the promoters shared the challenges faced in running the cold chain projects during the lockdown period.
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“They discussed issues such as piling stocks of frozen vegetables and processed dairy products not finding their traditional markets like restaurants, banquets, hotels etc. amidst the lockdown and further, the difficulty in exporting these products,” the government said.
“The promoters shared that a higher number of working hours is required as businesses are operating with 1/3rd or half of the labour Force. This has increased the cost of production rendering product as less competitive”, it added.
Union Minister discussed major issues like raw material availability and its high cost; Impact of Lockdown on operations; Labour and Logistics issues; High inventory costs and Liquidity crisis as payments have to be made to farmers.
She emphasized on the need to leverage the collective strength of the Integrated Cold Chain network to cope up with the COVID-19 crisis that has posed a serious challenge to the existing supply chain of food products.
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