The government has signed agreements with 26 domestic and international companies, securing investment commitments worth ₹1.02 trillion in the country's food processing sector.
The memorandums of understanding, signed during the four-day World Food India summit in New Delhi that concluded on 28 September, are projected to generate direct employment for over 64,000 people and create indirect opportunities for more than one million individuals in the country.
“Over the course of the four-day event, 26 leading domestic and global companies signed memoranda of understanding (MoU) worth a total of ₹1,02,046.89 crore, marking one of the largest investment announcements in India’s food processing sector,” the ministry said in a statement on Sunday.
Companies that signed the MoUs include Reliance Consumer Products, The Coca-Cola System in India, Gujarat Cooperative Milk Marketing Federation (Amul), Fair Exports (India) Pvt. Ltd (Lulu Group), Nestlé India, Tata Consumer Products Ltd, and Carlsberg India Pvt. Ltd.
Among other companies that signed MoUs include B.L. Agro Industries Ltd., Patanjali Foods Ltd, Godrej Agrovet Ltd, Haldiram Snacks Food Pvt. Ltd, Mrs. Bectors Food Specialities Ltd, and Dabur India Ltd.
The event has not only attracted record investment commitments but also reaffirmed India’s position as a trusted global destination for food processing, the government said. “The event has laid a strong foundation for sustainable growth, innovation, and international collaboration, further consolidating India’s leadership in shaping the future of global food systems, it added.
The investment commitments are spread over a diverse sector such as dairy, meat and poultry, packaged foods, alcoholic and non-alcoholic beverages, spices and condiments, confectionery, edible oils, fruits and vegetables, and ready-to-eat products.
These investments are planned across the country including Gujarat, Maharashtra, Uttar Pradesh, Punjab, Bihar, Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, Madhya Pradesh, Odisha, Rajasthan, West Bengal, Assam, Chhattisgarh, Uttarakhand, Jammu and Kashmir, and other parts of the northeastern region.
On the summit’s inaugural day, Union food processing minister Chirag Paswan had stated that memorandums of understanding exceeding ₹1 trillion were expected to be signed during the four-day event.