New Delhi, Sep 25 (PTI) Prime Minister Narendra Modi on Thursday invited global companies to invest in India’s food processing sector as the country’s triple strength of crop diversity, demand, and scale make it an attractive destination.
The government has given a big push for the food processing sector in the last ten years, with supportive initiatives like production-linked schemes and mega food parks, resulting in a 20 times increase in capacity and doubling of exports, he said.
Addressing the fourth edition of World Food India here, Modi also urged the industry to invest in environment-friendly biodegradable packaging for processed foods.
“Bharat ne khule man se apne desh ke darwaze, duniya ke liye khol rakhe hain. Hum food chain se jude har investors ke liye open hain. Hum collaboration ke liye khule dil se taiyar hain. (We have kept our doors open for the world. We are open to investors engaged in the food chain. We are ready for collaboration),” Modi said.
The Prime Minister invited global food companies to make the “maximum investments” in India.
There are huge opportunities in India’s food processing sector, and the global companies should take advantage of this, he said.
Modi further said global investors are looking at India with great hope because the country has triple strength — diversity, demand and scale, making it the most attractive destination for investment.
India is unique in the world, as the country has production diversity, growing all kinds of foodgrains, fruits, and vegetables.
There is a huge demand for different types of food in India, making it a preferred destination for investors, he noted.
The scale at which India is working is “unprecedented”, which has helped lift 25 crore people out of poverty and become part of the neo-middle class, Modi pointed out.
The neo-middle class is the country’s most energetic and aspirational class, which is going to set food trends in the coming years, he added.
On GST reforms, Modi said the food processing sector has also benefited, with most food items falling under the zero or 5 per cent slab.
The Prime Minister also mentioned that the government has reduced the GST from 18 per cent to 5 per cent on biodegradable packaging to promote environmentally friendly packaging.
“The demand now is for biodegradable packaging. It is necessary to ensure the food products remain safe and fresh, but at the same time, there is a responsibility towards nature. Therefore, the government has reduced GST,” he said.
Modi also directed the industry to invest in biodegradable packaging innovations and shift towards it at the earliest.
The Prime Minister also highlighted that the government is investing in modernising processing plants, cold chain facilities and smart harbours in the fisheries sector. It is also investing in modern technologies to reduce crop wastage and improve shelf life.
He said the government is promoting the food processing sector by allowing 100 per cent FDI.
Schemes like production-linked incentive (PLI) and mega food parks have given a boost to the sector.
Modi said these initiatives have enhanced the sector’s capacity 20 times in the last ten years. The exports have also doubled.
Russian Federation Deputy Prime Minister Dmitry Patrishev, Union Ministers Chirag Paswan (Food Processing Industries), Prataprao Ganpatrao Jadhav (Ayush Ministry) and Minister of State Ravneet Singh Bittu were present at the event.
“We have signed MoUs worth Rs 1,00,000 crore that will create 9 lakh jobs in the coming years,” Paswan said in his welcome address.
The sector has grown sharply in the last ten years. The government will not compromise on the quality of food products. It will set up 100 food testing labs across the country, he added.
The fourth edition of World Food India is aimed at attracting greater investments in the domestic food processing sector and positioning India as a global hub for food innovation.
During the 2023 edition, MoUs worth Rs 33,000 crore were signed, while the 2024 edition focused on technology transfer agreements.
Covering an expansive 1,00,000 square metres, World Food India 2025 is the largest congregation of stakeholders in India’s food processing sector.
Over 21 countries, with New Zealand and Saudi Arabia as partner countries, and Japan, Russia, the UAE, and Vietnam as focus countries, are participating in the event.
Around 21 Indian states/Union Territories, 10 central ministries, and 5 allied government organisations with 1,700 plus exhibitors are likely to participate in the four-day event.
(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)
