India’s food processing industry, considered a sunrise sector, has attracted an impressive $6 billion in foreign direct investment, as noted by Prime Minister Narendra Modi. During the inauguration of ‘World Food India 2023,’ he credited this achievement to the government’s pro-industry and pro-farmer policies.
Modi emphasized the role of the production linked incentive scheme in spurring growth within the food processing sector. He underscored India’s importance in ensuring global food supplies in today’s ever-changing geopolitical landscape.
The event also featured a CEOs roundtable, aimed at further enticing investments into the food sector. The issues of food management and supplies, globally discussed at the G20 summit, were brought to the forefront, as supply disruptions have resulted in price hikes.
At the event, Prime Minister Modi extended seed disbursement assistance to over one lakh self-help groups, enabling improved pricing through enhanced packaging and quality manufacturing. A ‘food street’ showcasing regional culinary traditions and heritage was unveiled, featuring participation from over 200 chefs.
Simultaneously, India is actively promoting millet farming, a resilient and carbon-neutral crop, particularly valuable during droughts or floods. This initiative aligns with the International Year of Millets, focused on enhancing global food and economic security, with over 97% of millet production and consumption occurring in developing nations.
