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Doing business in India easier now: Modi

04 November, 2017, 00:28 | Author: Priscilla Morrison
  • Doing business in India easier now: Modi

The World Food India 2017 organised at Delhi's Vigyan Bhawan was inaugurated by Prime Minister Narendra Modi earlier in the day.

Commenting about the World Food India 2017, an official statement said that World Food India platform will strengthen India's position as a global food factory and is a positive step towards making the country food secure.

The prime minister invited global companies to come and invest in the food processing industry in India, saying it offers vast opportunity.

Notably, "World Food India 2017" is a platform for showcasing the food processing strength of India and an opportunity to connect with global and Indian key players in food processing and allied sectors.

Taking the stage during the inaugural session, PM Modi hailed India's rising economy by claiming that India is one of the fastest growing economies in the world.

The Prime Minister said there are opportunities in post-harvest management, like primary processing and storage, cold chain and refrigerated transportation.




He made a point that more investment is required in contract farming, raw material sourcing and creating agricultural linkages.

FMCG major ITC has signed a MoU with the ministry to invest about ₹10,000 crore in the food-processing sector in India. India is expected to attract an investment of $10 billion in food processing sector and generate one million jobs in the next three years.

That's not all, the Telangana Food Processing Society has also collaborated with a Germany-based Agri-business alliance.

Minister of Food Processing Industries added that India was geared up for a revolution in the food processing sector and it was clear that the global companies were eagerly looking towards India for collaboration.

He also spoke of the government targeting doubling of farmers' income in five years.

Tata International Managing Director and Trent Chairman Noel Tata said there is a need for significant new investment to increase our scale in food processing, which is dominated by MSMEs. He also released a commemorative postage stamp on Indian food. PM was giving them all sorts of economic and social USP's to why to opt for food processing as the preferred investment area. It is rapidly progressing in the "Global Innovation Index", "Global Logistics Index" and "Global Competitiveness Index". Following this, over 800 kg of khichdi will be prepared LIVE on November 4 at the event, which will be relished by both rich and poor.

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