India`s food processing sector to get investments worth Rs 1.02 lakh crore: Government
The Indian government has signed Memoranda of Understandings (MoUs) worth Rs 1,02,046.89 crore, with 26 overseas and domestic firms for investments in India's food processing sector. Besides, these MoUs are expected to generate direct employment for over 64,000 people and create indirect opportunities for more than 10 lakh individuals. The companies that signed MoUs include Reliance Consumer Products, The Coca-Cola System in India, Gujarat Cooperative Milk Marketing Federation (Amul), Fair Exports (India) (Lulu Group), Nestle India, Tata Consumer Products, Carlsberg India and many other.
The pledged investments have span across diverse segments, such as meat and poultry, dairy, packaged foods, spices and condiments, alcoholic and non-alcoholic beverages, edible oils, fruits and vegetables, and ready-to-eat products. Further, the MoUs have attracted investments across multiple states, including Gujarat, Maharashtra, Uttar Pradesh, Punjab, Bihar, Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, Madhya Pradesh, Odisha, Rajasthan, West Bengal, Assam, Chhattisgarh, Uttarakhand, Jammu & Kashmir, and the north-eastern region.
The national investment promotion and facilitation partner - Invest India has assisted the Ministry of Food Processing Industries in signing these MoUs. Meanwhile, emphasizing the significance of the development, the government has indicated that the MoUs have 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 noted that the ministry, in partnership with Invest India, will continue to work closely with industry stakeholders to facilitate these investments and ensure their effective implementation.
