New Delhi, Sept 12 (KNN) Rural to urban migration leads to increased demand for processed foods, said Harsimrat Kaur Badal, Union Food Processing Minister.

She said as people migrate from rural to urban areas the eating habits of people change as they need more ready to eat food because of less time and more work.

Interacting with the media after unveiling the Economist Intelligence Units (EIU) report on ‘Fixing Asia’s Food Systems’ Badal said, “the report found that population growth, urbanization and changing food demands are pressuring Asia’s food systems.”

This study report has given a vision to the government, policy makers and the industry about the upcoming challenges and demand in the food processing sector in coming 10 years, said Badal.

She said “the time has come that we look for food not only locally but globally also.”

A strong partnership is required across countries to meet the growing demand of food in the near future, she added.

She said this partnership is necessary between countries as both the parties benefit from commerce with other countries because each country has advantages in producing certain goods.

On NBFC’s progress on food processing sector, Badal said “Request for proposal (RFP) will be out hopefully this month and after that in one month people will submit their proposals.”

“Many international big firms have expressed interest in this sector and I am hoping that we will be able to make a consortium of banks who will come together to put in the funds for this financial institution which will not only lent to the food processing sector but will also work towards risk assessment, capacity building, bringing down food waste and research and development,” said Badal.

Since demands are growing, for this she said “I am looking at a corpus of Rs 2000 crore and hopes that it will increase many folds.”