Business


Oman-based NRI businessmen plan to invest $100m in India



Muscat: An Oman-based entrepreneur is in discussion with Indian authorities to start a $100 million organic fruit exports business in the northern state of Maharashtra, said a report.

R H Parakh will be investing $40 million in the project initially along with a group of investors in Oman, reported the Times of India.

The non-resident Indian (NRI) businessman was speaking on the sidelines of the conference organised by 'The Indus Entrepreneurs' (TIE), a non-profit organisation of businessmen, in the presence of India's Transport and Shipping Minister Nitin Gadkari.

Parakh said the plan envisages floating a co-operative of cultivators who will supply organic fruits to the company which is likely to be set up in Nagpur.

The produce will be then flown by helicopters to be finally lifted by aircraft to be supplied in markets abroad.

These fruits will be directly getting certification from the United States (US) and European agencies at the point of production, he was quoted as saying in the news report.

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is it any chance to improve the devolopment of nagpur city and open facility to works of laboursl