Ahmedabad (PTI): The proposed agriculture business policy, which would project Gujarat as an agri-business hub by 2015, is likely to be finalised by the next month, Gujarat Agro-Industries Corporation officials said.

"The new agri-business policy is expected to be announced by next month," Gujarat Agro-Industries Corporation (GAIC) Managing Director S C Srivastava told PTI.

The new policy draft proposes to bring dairy projects into the fold of agriculture, six per cent back-ended subsidy on projects approved by the co-operative banks, and extend 25 per cent air freight subsidy on exports of flowers, vegetables and fruits besides mangoes, he said.

The new policy draft has already been submitted to the state government last month for approval.

After finalisation of the new agri-business policy, the state agriculture department aims to attract huge investment in agriculture and food processing sector during the Vibrant Gujarat Global Investors Summit-2009 which is scheduled to be held in January 2009.

"We intend to go to the investors with a new policy at Investors Summit-2009. We target to attract an investment of Rs 15,000 crore," Srivastava said, adding that investment in the sector in 2007 was about Rs 11,500 crore.

The new agri-business policy for the state was announced two months ago by the State Agriculture Minister. Meanwhile, suggestions from the business houses were invited, and were incorporated into the final proposed draft.