Government expects over Rs 75,000 crore investment during World Food India to be held from November 3-5

World Food India: The Centre said more than Rs 75,000 crore investment is likely to be attracted in the food processing sector during the second edition of the World Food India to be held from November 3-5 in the national capital.

"We are expecting to cross Rs 75,000 crore investment this time," Alam told PTI on the sidelines of the press briefing. Pic: Pixabay

World Food India: The Centre on Wednesday said more than Rs 75,000 crore investment is likely to be attracted in the food processing sector during the second edition of the World Food India to be held from November 3-5 in the national capital.

The first edition was held in 2017, but in consecutive years the international event could not be organised due to the COVID-19 pandemic, it said.

"We have requested Prime Minister (Narendra Modi) to inaugurate World Food India (WFI) 2023 to be held at Pragati Maidan here. For the valedictory function, the President of India will be present," Minister of State for Food Processing Industries Prahlad Singh Patel said.

TRENDING NOW

There are a lot of opportunities for investment in India's food processing sector. Some companies have already made an indicative investment commitment, to be announced during the World Food India 2023, he said.

The minister said, "China has not been invited for the event due to strategic reasons." Around 16 countries, 23 state governments, 11 Union ministries and central bodies will participate in the event that is likely to have 950 exhibitors and 75,000 visitors, he said.

The Netherlands will be a partner country for the World Food India 2023, while the focused countries will be Japan and Vietnam, he added.

Additional Secretary in the Food Processing Industries Minhaj Alam, in his presentation, said about Rs 642 crore indicated investment has been committed by Britannia, GreenGrahi, Foods and Inns Ltd, St Peter & Paul Sea Food Exports as well as US-based General Mills so far.

A verbal investment commitment has been received from Swiss-based Buhler Group, US-based Mondelez and Coca Cola and UAE-based Lulu Group, he said.

"We are expecting to cross Rs 75,000 crore investment this time," Alam told PTI on the sidelines of the press briefing.

Asked about the status of investment received in the first edition of the World Food India, the official said, "We had received a commitment for an investment of Rs 75,000 crore, out of which Rs 23,000 crore has come." The investments were expected to fructify in three years. Due to the pandemic, there was a delay, he added.

Sanoj Kumar Jha, Additional Secretary in the Food Processing Industries, was also present at the briefing.

The focus areas would be millets, unlocking the potential for growth, positioning India as the global hub, efficient ecosystem, and sustainable development.

The event will see 60 to 80 chefs making the world's longest 'Millet dosa' of over 100 feet in attempt to set a Guinness Record.

Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.

TAGS:

World Food India Central Government