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Our Bureau

Kolkata , Nov. 22

THE Managing Director of Godrej Industries, Mr Nadir B. Godrej, on Saturday criticised the Union Government for pursuing a faulty policy on import of edible oil and oil seeds at the cost of the local industries.

In a unique rhymed speech, at the inaugural session of the 58th annual convention and international conference organised by the Oil Technologists' Association of India (OTAI), Mr Godrej said: "Right now industry is in a bind./Quite anomalously we find/ That product duties were reduced/But the oils from which they are produced/ Still have the higher rate of thirty./ We think that this is playing dirty".

He went on to say: This neglect could well destroy/Our industry as the Malaysians enjoy/ This bonanza beyond all hope/ And flood us with acids and soap".

He felt that the new emerging technologies, such as enzymatic, membrane and biotechnologies, would help the edible oil industry to ensure the nation self-reliance in oil in the near future.

Mr S.K. Roy, President of OTAI (east zone), told Business Line in a more conventional fashion that three oil extraction and refining firms — two in Hyderabad and one in Kolkata — have already started using new technologies for degumming oils, while two Hyderabad-based firms are expected to commercially start utilising biotechnology for refining within the next two months. The new technologies would not only increase productivity but also enhance neutraceutical value of the oils.

A poetic speech

MR Nadir B. Godrej held the audience spellbound with a speech which he delivered in verse.

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