Mega Investments Pour Into India's Food Processing Sector
Reliance Consumer Products and Coca-Cola's bottlers announced significant investments in India's food processing industry, totaling over Rs 65,000 crore at the World Food India Summit. This initiative supports establishing integrated facilities across various states, aiming to drive job creation and economic growth till 2030.
- Country:
- India
Reliance Consumer Products, alongside three Coca-Cola bottlers, has unveiled plans for substantial investments in India's burgeoning food processing sector. Collectively, upwards of Rs 65,000 crore will be funneled into new facilities announced at the World Food India Summit's opening day.
Chirag Paswan, Union Food Processing Industries Minister, projected total investment surpassing Rs 1 lakh crore for the event held in the national capital. Already, Reliance has committed Rs 40,000 crore for integrated facilities, starting in Maharashtra and Andhra Pradesh.
The ventures anticipate generating over 30,000 direct and 3,00,000 indirect jobs by 2030, bolstered by regulatory support. Coca-Cola, marking India as its fifth-largest market, will expand across nine states with commitments from SLMG Beverages, Hindustan Coca-Cola Beverages, and Kandhari Group of Companies.
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