MoUs worth ₹68000 crore inked on day one at World Food India

PM Modi
PM Modi will inaugurate World Food India festival at Vigyan Bhawan in New Delhi
Author

04 November, 2017

The prime minister invited global companies to come and invest in the food processing industry in India, saying it offers enormous opportunity.

The Roadshow was organised by the Union Ministry of Food Processing Industries (MoFPI) in collaboration with CII '. He said simple, home-based techniques, such as fermentation, have resulted in the creation of pickles, papads, chutneys and murabbas.

"Our farmers, who we respectfully call our annadata, are central to our efforts in food processing", Modi added.

Representatives from 28 states, 18 ministerial and business delegations, almost 50 global CEOs along with CEOs of all leading domestic food processing companies will also participate at the event.

This is the first time that India is hosting such an event for the food processing sector.

Prime Minister Narendra Modi today said food processing was a top priority in government's Make In India initiative and doing business in India is easier now.

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India, he said, is one of fastest growing economies in the world and implementation of the Goods and Services Tax (GST) from July 1 has eliminated multiplicity of taxes. However, more investment is required in contract farming, raw material sourcing and creating agri-linkages.

ITC, which inked an MoU with the Ministry of Food Processing Industries, said the planned 20 new integrated facilities will produce branded food products, including Aashirvaad atta, Sunfeast biscuits, YiPPee! noodles, Bingo! snacks, B Natural juices, and processed fruits and vegetables. PM Modi further said, "Over a million passengers consume food on trains in India in a single day, they are potential customers for food processing industry".

Earlier, addressing a curtain raiser event, Food Processing Minister Harsimrat Kaur Badal said private investments worth Rs 65,000 crore have already been committed in the food processing sector and more is expected during the event.

"Our demand of food is set to double over the next five years". Khichdi also has qualities of wellness and health food and is very nutritious.

During the event, India is hosting over 2,000 participants and 200 companies from around 30 countries. The food processing unit will have designated units for maize, sugarcane and other crops.

Unilever Global President Amanda Sourry said, "The world is looking towards India". Following this, over 800 kg of khichdi will be prepared LIVE on November 4 at the event, which will be relished by both rich and poor.


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