Food processing sector to attract investment proposals worth Rs 1 lakh cr during World Food India event: Min

New Delhi, Sep 25 (PTI) India's food processing sector is expected to attract investment proposals of more than Rs 1 lakh crore during the World Food India summit, which commenced on Thursday in the national capital, Union Minister Chirag Paswan said.

The MoUs worth around Rs 65,000 crore have already been signed, the food processing industries minister said.

"During this event, we are expecting to sign MoUs of more than Rs 1 lakh crore," he said while replying to a query on the sidelines of the World Food India Event.

Paswan said the agreements worth Rs 65,000 crore were signed on Thursday morning with two big corporates -- Reliance Consumer Products and Coca-Cola, along with its bottlers.

During the event, a CEO roundtable was held to discuss the issues related to the food processing sector.

Besides Paswan, Union Road Transport and Highways Minister Nitin Gadkari was present at the roundtable.

Paswan said the CEOs were very happy with the rationalisation of the GST rates.

The food processing industries minister said the food and FMCG industries had raised concerns about the GST during the 2024 World Food India Event.

On Thursday evening, Prime Minister Narendra Modi will inaugurate the fourth edition of World Food India, aimed at attracting greater investments in the domestic food processing sector and positioning India as a global hub for food innovation.

The mega event, being held at Bharat Mandapam in the national capital, will also witness participation from Russian Federation Deputy Prime Minister Dmitry Patrishev.

"World Food India is not merely a trade show, but a transformative platform to position India as a global hub for food innovation, investment, and sustainability," Paswan had said.

During the 2023 edition, MoUs worth Rs 33,000 crore were signed, while the 2024 edition focused on technology transfer agreements.

Covering an expansive 1,00,000 square metres, World Food India 2025 will be the largest congregation of stakeholders in India's food processing sector.

Over 21 countries, with New Zealand and Saudi Arabia as partner countries, and Japan, Russia, the UAE, and Vietnam as focus countries, are participating in the event.

Around 21 states/Union Territories, 10 central ministries, and 5 allied government organisations, along with over 1,700 exhibitors, are expected to participate in the four-day event. PTI LUX KRH MJH BAL BAL