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World Food India 2023: A Feast of Investments in the Food Processing Industry

18 October 2023

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The Centre said on October 18 that during the second World Food India event, which will take place in the nation's capital from November 3–5, over Rs 75,000 crore in investment is anticipated to be drawn to the food processing industry. The inaugural edition took place in 2017, however the COVID-19 epidemic prevented the international event from being staged in subsequent years, according to the statement.

"We have requested Prime Minister (Narendra Modi) to inaugurate World Food India (WFI) 2023 to be held at Pragati Maidan here. For the valedictory function, the President of India will be present," Minister of State for Food Processing Industries Prahlad Singh Patel said.

The food processing industry in India offers numerous investment prospects. According to him, a few businesses have already committed to an indicative amount of money, which will be revealed at World Food India 2023.

"China has not been invited to the event due to strategic reasons," stated the Minister.

He stated that the event, which is expected to draw 950 exhibitors and 75,000 guests, will feature participation from about 16 countries, 23 state governments, 11 Union Ministries, and central agencies. He continued, saying that Japan and Vietnam will be the main focal countries, with the Netherlands serving as a partner nation for World Food India 2023.

In his presentation, Additional Secretary to the Food Processing Industries Minhaj Alam stated that thus far, investments totaling approximately Rs. 642 crore have been made by U.S.-based General Mills, Britannia, GreenGrahi, Foods and Inns Ltd, and St. Peter & Paul Sea Food Exports.

He stated that the U.S.-based Mondelez and Coca-Cola, the Swiss-based Buhler Group, and the UAE-based Lulu Group have verbally committed to an investment. Alam told PTI, "We are expecting to cross Rs 75,000 crore investment this time," outside the press conference.

When asked how the investment from the inaugural World Food India edition was going, the official replied, "We had received a commitment for an investment of Rs 75,000 crore, out of which Rs 23,000 crore has come."

It was anticipated that the investments would pay off in three years. He said there was a delay because of the pandemic. Attending the briefing was Sanoj Kumar Jha, Additional Secretary in the Food Processing Industries.

Millets, growth potential unlocking, India's role as the world's hub, an effective ecosystem, and sustainable development would be the main areas of concentration. In an effort to break the Guinness Record, 60 to 80 chefs will create the longest "Millet dosa" in history—more than 100 feet.



 

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