Prime Minister Narendra Modi on Friday said the food sector that allows 100 per cent foreign investment was the priority in the government's ambitious "Make In India" programme.
During the event, India is hosting over 2,000 participants and 200 companies from around 30 countries. It welcomes to host a congregation of global investors and business leaders of major food companies from November 3 to 5 in New Delhi.
Keen on making giant strides in the food processing sector, India has simplified the regulatory mechanism for food products, globally benchmarked standards and speedier clearances for projects. India was ranked number one in the world in 2016 in greenfield investment. India he said, is one of the fastest growing economies in the world and implementation of the Goods and Services Tax (GST) from July 1 has eliminated multiplicity of taxes.
Meanwhile, Harsimrat Kaur Badal, the Union Cabinet Minister of Food Processing also asserted, " This event that has brought together stakeholders from all food value chains to collaborate the increase in food processing in India".
Unilever Global President Amanda Sourry said, "The world is looking towards India".
He further said that the private sector participation has gone up in many segments of value chain, but more investment is required in contract farming, raw material sourcing and creating agri linkages.
The Centre is also launching a special portal â Nivesh Bandhu â to assist investors by providing information about government's policies, agro-producing clusters, infrastructure and potential areas of investment in the food processing sector.
"Our farmers, whom we respectfully call as "annadatas" are central to our efforts in food processing", he said. "This is a clear opportunity for global chains".
India is expected to attract an investment of USA $10 billion in food processing sector and generate 1 million jobs in the next 3 years.
"Food Ministry plays a key role in helping realise PM's vision to double farmers' income by 2022".
Notably, Chhattisgarh Government had earlier received an invitation from the Confederation of Indian Industry (CII) on behalf of Union Ministry of Food Processing Industries, officials informed. The food processing unit will have designated units for maize, sugarcane and other crops. According to unconfirmed reports, chef Sanjeev Kapoor will be attempting to create a record by cooking 800 kgs of khichdi on November 4 at the India Gate Lawns.
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