New Delhi: A delegation of Indian dairy companies, including Amul, is on a visit to Australia to promote trade and investment opportunities between the two countries, private sector bank Yes Bank said today.
The five-day visit has been organised by the private sector bank Yes Bank in association with the Australian Trade Commission (Austrade), a trade and investment promotion agency of the Australian government, it said in a statement.
The delegation comprises key firms from cooperative and private dairy sector such as Amul, ITC, VRS Foods, Gopaljee Dairy, Lakshya Food, Amul, SMC Creamy Foods, Asad Farms, Deshpande Foundation and Kiaro Farms.
The visit assumes importance as India despite being the world’s milk producer, is still facing challenges of low milk yield, lack of infrastructure, improper veterinary services and rising feed and fodder costs.
Australia has emerged as the world’s fourth largest dairy exporter with 2 per cent of global milk production at 9.2 million tonnes.
“Due to these factors, Australia has become a lucrative destination to explore latest developments in dairy industry as well as for trade and technology transfer,” Yes Bank said.
During the visit, Austrade has organised interactions with leading Australian dairy farming, processing technology, waste management, breeding and genetics companies, as well as research institutions in Melbourne during June 16-18 and in Brisbane on June 19-20, it added.