Investments worth $11 bn committed during World Food India: Badal
Food Processing Industries Minister Harsimrat Kaur Badal said on Sunday investment worth $11.25 billion were committed to the country’s food processing sector during theWorld Food India event. With government funds put together the total investments signed have reached $18.84 billion.
Badal announced a dedicated cell has been put in place to ensure each of the 50 memoranda of understandings (MoUs) materialise on the ground level and help boost food processing levels from the current 10 per cent.
She also said that Maharashtra and Telangana governments announced their own food processing policy at the event and called upon other states to do so. Of the investment, about $2.5 billion worth of MoUs have been signed between state governments and stakeholders and Punjab and Haryana have got the bulk of the investment.
The US, the UAE, Germany, the Netherlands and France have announced big amount of investments in the country's food processing sector, she added. The minister further said the investments are promised in areas of food processing, beverages, logistics, wholesale and retailing, e-commerce, organic farming among others.
"We have signed about 50 MoUs. These are not just pieces of papers that we have signed. A lot of homework has gone into it. A lot of work which is going to get done," she said. The 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 eachMoU but a dedicated cell and a team been put in place to follow up with investors.
The three-dayWorld Food India, which concluded today, saw participation from 60 countries and over 50 global CEOs. A Guinness World Records was also created by cooking 918 kg of Khichdi (traditional multi-grain dish) at the event.