Chirag Paswan, Minister of Food Processing, stated on Thursday that more than ₹1 trillion in food processing investment is anticipated during the fourth World Food India event.
Leading fast-moving consumer goods (FMCG) companies signed memorandums of understanding (MoUs) promising investment worth over ₹75,000 crore on the opening day of the four-day event, which Prime Minister Narendra Modi opened.
Modi said: “The world, and especially investors related to the food sector, are both looking at India with a lot of hope. India has the joint power of diversity, demand, and scale. It is this diversity that sets us apart. As food and tastes change every 100 metres, it creates demand for a variety of products, giving India a competitive edge and making us a preferred destination for investment.”
Also Read: Coca-Cola Bottlers to Invest Rs 25,760 Crore in Food Processing
He emphasized the sector's expansion, stating that it has grown 20 times in the last ten years and that now is the ideal time to invest in India. In the Pradhan Mantri Formalization of Micro Food Processing Enterprises Scheme, Modi announced a credit-linked subsidy of ₹2,518 crore for microprojects to 26,000 recipients.
throughout order to establish integrated food manufacturing facilities throughout the nation, Reliance Consumer Products (RCP) and the Ministry of Food Processing Industries signed an agreement for an investment of ₹40,000 crore.
Additionally, Paritosh Ladhani, joint managing director of SLMG Beverages, Coca-Cola's largest independent bottler, announced that the company's three bottlers, which make up the Coca-Cola System, had reached an agreement to collectively invest ₹25,760 crore.
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