Investments worth USD 19 bn committed at World Food India: Minister
By TIOL News Service
NEW DELHI, NOV 06, 2017: THE Food Processing Minister, Ms Harsimrat Kaur Badal, said that the World Food India 2017 witnessed the signing of 50 MoUs worth USD 11.25 billion for investment by the private sector, another USD 2.5 billion at the state level. Coupled with the initiatives that the Central Government is undertaking, close to USD 19 billion worth of investments was committed at the event, she added. These investments were in all segments of the food processing value chain from farm to the fork.
According to the Minister, the event witnessed the participation of 10,000 participants and over 8,000 B2B and B2G meetings were held. She highlighted her Ministry’s resolve to follow through on the investments committed and stated that they would work to bring these investments online as soon as possible.
The President of India, Mr Ram Nath Kovind, in his valedictory address, said that the event was the Kumbh Mela of the Food Processing Industry. He said that food was part of India’s global outreach. Foods like the samosa have entered India from Central Asia, assimilated into our culture and then exported to different parts of the world. He stated that concepts that were once part of India’s heritage such as Ayurveda and Yoga have once again come back in vogue.
Food Processing Sector offers many opportunities for investment in several areas including huge opportunities for women to set up micro-enterprises in the country and adoption of food processing can go a long way in curbing food wastage, he said.
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