World Food India 2023: Centre anticipates Rs. 75,000 crore investment
The Indian government is expecting more than Rs. 75,000 crore in investments for the food processing sector, during the second edition of World Food India. It will take place from November 3-5 in New Delhi. The first edition was held in 2017, but later events were canceled due to the COVID-19 pandemic. Minister of State for Food Processing Industries, Prahlad Singh Patel, has invited PM Narendra Modi to inaugurate the event, with the President of India attending the closing ceremony.
Event details and participation
World Food India 2023 will be hosted at Pragati Maidan in New Delhi, featuring 16 countries, 23 state governments, 11 Union ministries, and central bodies. The event is expected to draw about 950 exhibitors and 75,000 visitors. The Netherlands has been selected as a partner country, while Japan and Vietnam will be the focus countries. Interestingly, China has not been invited for strategic reasons.
Investment commitments from major companies
A number of companies have already made preliminary investment commitments to be announced during World Food India 2023. Britannia, Foods and Inns Ltd, GreenGrahi, St Peter & Paul Sea Food Exports, and US-based General Mills have pledged around Rs. 642 crore in investments. Additional verbal commitments have come from Swiss-based Buhler Group, US-based Mondelez and Coca Cola, and UAE-based Lulu Group.
Significance of World Food India for the food processing sector
The event's main goal is to highlight investment opportunities in India's food processing sector and attract global investors. With an anticipated investment of over Rs. 75,000 crore, World Food India 2023 will play a vital role in propelling the sector's growth and development. The event will also serve as a platform for international collaboration, knowledge sharing, and networking opportunities among industry stakeholders.
