“Innovation and development of technology is the need of the hour. More and more investment in the areas of technology upgradation, research and development is being made in the manufacturing sector including Agro & Food Industries”, said Mr. Subodh Kant Sahai, Hon’ble Minister of State (Independent Charge), Ministry of Food Processing, Government of India while inaugurating the Innovative Technologies for Manufacturing 2008 (ITM) Expo organized by the All India Association of Industries and World Trade Centre, Mumbai.

Mr. Sahai said the Ministry of Food Processing is proposing to start special technoparks for food Processing industry which will benefit the farmers. He further added that his is a no tax Ministry and 100% Foreign Direct Investment (FDI) is allowed in this sector. As such more and more efforts should be made for the growth of Agro and Food processing sector. Today only 8-10% of food is being processed in India whereas in overseas 70-80% is being processed. India needs to make more investment in Innovative Technology. He further added that Innovation and Technology not only makes you competitive but also gives you better opportunity for job and quality of life.

Mr. Ashok Chavan, Hon’ble Minister for Industries & Mines said the Maharashtra Government will support the All India Association of Industries to start a technopark in MIDC Industrial area and give all possible help as this will not only give impetus to promoting Innovative Technology but help the growth of the manufacturing sector.

Mr. Chavan, said real wealth is in Innovation and Maharashtra offers best infrastructure and conducive climate for the development of Innovative technologies to Industries. He complimented the effort of AIAI and WTC which is first of its kind to be held in the commercial capital of India – Mumbai.

Mr. Vijay Kalantri, President, All India Association of Industries (AIAI) and Vice President World Trade Centre, Mumbai said several leading and national and international organizations have partnered in this important event and lent their valuable support to this programme.

As you will see, leading manufacturing companies from several countries are participating in this major event with a view to display innovative manufacturing solutions in sectors such as Automation and Engineering, Auto Components and Auto Accessories, Agro & Food Processing, Pharma & Bio technology, Electronics and Electrical Engineering , Energy and Environment, Packaging among others. Besides, well known Indian Public and private sector companies are participating in this event.

ITM Expo has provided a unique platform to network with innovators, technology providers, technology institutes, science and technology parks, among others from India and abroad.

The ITM Expo aims at promoting innovative technologies within the Indian manufacturing sector with a view to enhance productivity, upgrade quality, conserve energy, promote cost effectiveness, ensure industrial safety and improve global competitiveness. As India’s manufacturing base is the fourth largest among emerging economics, global companies are making a foray into India to establish commercial alliances and joint ventures with India.

The ITM Expo will be a convergence point for Business-to-Business meetings between innovators and manufacturers to explore investment opportunities and locate joint ventures partners for technological alliances. Concurrent with the Expo, the three day conference with thematic discussions will be addressed by eminent experts from India and abroad.

Our country is emerging as a global hub of innovation, low cost as well as high value products and services. Against this emerging scenario, the ITM Expo 2008 assumes heightened importance. Over the next four days, I expect representatives of trade, industry, private and public sector institutions and government agencies to gather here in large numbers to witness and gain first hand experience of the state-of-the-art technologies from so many countries across the world, said Mr. Kalantri.

Capt. Somesh Batra, Vice President, World Trade Centre, Mumbai proposed vote of thanks.