India's Food Processing Sector: An Investment Hotspot

Prime Minister Narendra Modi has made a strong pitch for global companies to invest in India's food processing industry, highlighting the country's unique advantages in crop diversity, burgeoning demand, and operational scale. During the fourth edition of World Food India, Modi emphasized transformative government initiatives in the last decade that have significantly enhanced capacity and doubled exports within this sector.

He underscored the vast opportunities available for international companies and urged them to explore avenues in biodegradable packaging, an area where the Indian government is also reducing GST to foster environmentally friendly innovations. Addressing an audience that included Indian ministers and international dignitaries, Modi described India as a premier destination for global investors with its open-door policy for the food chain industry.

The forum reported an impressive number of Memorandums of Understanding signed, creating jobs and advancing technological collaborations. With 100% FDI now permissible in the food processing sector, Modi highlighted the continuous evolution, drawing attention to robust advancements in processing plants, cold chain facilities, and schemes like Mega Food Parks. The event, hosting participants from across the globe, aims to position India as a global hub for food innovation.

(With inputs from agencies.)