With 50 MoUs and 8000 meetings, ‘World Food India’ attracts ‘Bumper Investments’ of 19 Bn dollars
 Source : NewsBharati  Date : 06-Nov-2017

New Delhi, November 6: Three-day Mega food fair 'World Food India' attracts bumper investment of 19 billion dollars including 11.25 billion from private sector, which concluded in New Delhi yesterday. It saw participation of 60 countries and over 50 global CEOs.

This was the first time that India hosted such an event for the food processing sector to strengthen its position as a global food factory. The conference witnessed participation of 10 thousand participants and over 8 thousand business to business and business to government meetings were held.

 

50 MoUs were signed worth 11.25 billion dollar to boost food processing levels from the current 10 percent. Of which, about 2.5 billion dollar worth of MoUs have been signed between state governments and stakeholders. The US, UAE, Germany, Netherlands and France have announced big amount of investments in the country's food processing sector.

Recapitulating the action packed three day Mega Food event, the host Union Minister Harsimrat Kaur Badal said that inspired by the leadership of Prime Minister Narendra Modi, her Ministry sees World Food India 2017 as a beginnimg and not end of an event.

She said at the World Food India 2017 not only has a Guinness book record been established for cooking 918kg of ubiquitous comfort, wellness food the nutritious Khichadi; business worth $11.25b with 50 MoUs has been transacted during the three days.

Badal said MoFPI’s resolve is only strengthened to help India be established as the World Food Factory. She said that during WFI, States including Punjab and Haryana also have negotiated MOUs worth $2.5b. “Ministry of Food Processing Industries will forge ahead to work expeditiously on implementing these MOUs. A special cell has been setup in Invest India to follow up on these negotiations and the Knowledge Partners would help achieve the goals” she informed.

The Union minister also assured of full support to ensure investments flow on the ground level and work begins as agreed in the MoUs. Badal said she will not only “personally monitor” implementation of each MoU but a dedicated cell and a team been put in place to follow up with investors.

The Minister informed that while States of Maharashtra and Telangana have announced their Food Processing Policy, the MoFPI would soon finalize the National Food Processing Policy.