India's domestic poultry market currently sits at $7.7 billion, but the country is looking to significantly increase its annual $110 million in exports.
According to Jagbir Singh Dhull, president of the Poultry Federation of India, outbreaks of bird flu in India since 2006 have caused trouble for exports. "Import bans due to bird flu do not allow us to derive cost advantage benefits from ample supplies of feedstocks," said Dhull. "Allowing foreign funds in retail will help poultry exports through development of modern processing units and cold chains."
Right now, India's domestic poultry industry is growing at a rate of 10% to 12% annually, while eggs are growing at 5% to 6%. India's Finance Minister, Pranab Mukherjee, said that the country is planning to liberalize investment rules to seek foreign funds to develop key sectors such as retail and infrastructure.
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