Govt plans 30 food parks for small and medium industries

The parks proposed to be set up by the Ministry of Food Processing Industries will help 20,000 small and medium industries engaged in the manufacture and processing of food products every year

The Centre plans to set up 30 food parks in various states with the aim of helping small and medium industries in the sector to grow, a senior official of the Indian Institute of Packaging (IIP) said.

The parks proposed to be set up by the Ministry of Food Processing Industries will help 20,000 small and medium industries engaged in the manufacture and processing of food products every year, IIP Director NC Saha said.

Addressing a one-day workshop on packaging and processing of ethnic food here last evening, he said the proposed parks will help the country overcome the problems of inadequate storage facilities and damage suffered during transport due to improper packaging.

Saha said the size of the food processing industry was likely to grow from $200 billion at present to $310 billion by 2015. Though India was the leader in production of several food products, it accounted for only 1.5% of global trade.

He said the IIP, a national enterprise set up by the Indian packaging and allied industry and the Ministry of Commerce to improve the standards of packaging, proposed to establish two more centres at Ahmedabad and Guwahati in order to promote packaging technology.

Saha said the only way to control prices of food products was to process and preserve them without any wastage.

Scientist SK Vel, the principal of the Indian Institute of Crop Processing Technology, said packaging prevented physical damage of food products and increased their shelf life.

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Royal Sundaram Alliance integrates with IGMS

The IGMS would have a uniform input form as specified by the IRDA

Private sector insurance company Royal Sundaram Alliance has integrated with Insurance Regulatory & Development Authority's (IRDA) centralised grievance redressal mechanism-Integrated Grievances Management System (IGMS).

The integration of Royal Sundaram in IGMS, would allow policy holders to register and track their complaints online with the company or with the regulator, a statement said.

The IGMS would have a uniform input form as specified by the IRDA. Insurers shall respond to the grievances of the policyholders within two weeks, it said.
 
In a recent announcement, IRDA has made it mandatory for insurance companies to set up infrastructure which would comply with the grievance norms.

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HDFC Bank launches India’s first ultra-premium credit card

Infinia will be available on both Visa and MasterCard platforms

HDFC Bank said that it has launched India's first ultra-premium credit card for the uber rich. Named Infinia, the card comes with virtually "no limits"?not just in terms of spend, but also the luxuries such customers are accustomed to. The card will be initially offered to a select 5,000 individuals.

Infinia will be available on both Visa and MasterCard platforms. The Bank has a credit card base of 50.5 lakh as of 31 March 2011. 

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