Seventy companies participate in roundtable discussions at World Food India 2023
More than Rs.50,000 crore worth of projects are in progress under the Agri-Infra Fund, focusing on post-harvest infrastructure, Prime Minister Narendra Modi said at the World Food India 2023.
He has encouraged further investment in the ‘sunrise sector’, pointing out that the sector has received over Rs.50,000 crore investments in the past nine years.
Addressing the inauguration of mega food event, Modi also highlighted the progress made under the Production-Linked Incentive (PLI) scheme in the food processing sector, which has greatly aided new entrants.
On progress made by the sector, he listed the Agri-Export Policy, development of nationwide logistics and infrastructure, establishment of district-level hubs, expansion of Mega Food Parks, and significant increase in India’s food processing capacity.
Modi also mentioned unique agricultural products being exported from India, such as black garlic from Himachal Pradesh, dragon fruit from Jammu & Kashmir, soya milk powder from Madhya Pradesh, and others.
Sixteen Memoranda of Understanding (MoUs) with around Rs.17,990 crore investments were signed between the Ministry of Food Processing Industries (MoFPI) and various industry entities at the event. Mondelez, Kellog, ITC, Innobev, Nedspice, Ananda, General Mills, and Ab Inbev were among the companies that have signed the agreements.
Senior government officials and CEOs from over 70 leading companies operating in the food processing and allied sectors also participated in roundtable discussions which primarily revolved around topics such as ease of doing business, investment and sourcing interests, and gathering industry insights on the existing gaps in the value chain within the Indian Food Processing Sector, MoFPI said on 3 Nov 2023. Fiinews.com
