After tasting success in organising roadshows in UK, Germany and UAE, India's Food Processing Industries Minister Harsimrat Kaur Badal is on a whirlwind tour to the US to lure investments and participation of global food giants in the upcoming World Food India 2017 in New Delhi.
The three-day event will be inaugurated by Prime Minister Narendra Modi on November 3 and is expected to attract the who's who of the processed food industry behemoths looking to feed millions in the world's second most populous country.
The minister addressed the representatives of food processing associations and companies during the round table conference organised by US-India Strategic Partnership Forum (USISPF), apprised Angela M Arboleda, VP, Government & Community Affairs, Herbalife about potential of Indian food processing industries sector.
World Food India is being organised by Ministry of Food Processing Industries during November 3-5, 2017, in New Delhi.
According to the minister, India provides a most conducive environment for food processing given parameters and conditions like abundance of food production, abundance of manpower engaged in agriculture and low cost of processing. At the same time, the government’s initiative to make India a Global Food Factory and Global Food Market brings immense opportunities for food processing sector.
The minister said India is ushering in an era of Zero Tolerance towards Post Harvest Wastage, Zero Tolerance on Delays in Commissioning of Food Processing Projects, Zero Tolerance in Delays in obtaining Licenses/Statutory Clearances for Food Processing, Food Retail Markets.
She said the government has introduced reforms like allowing 100% FDI in Multi Brand Retail. Additionally, the government has taken several initiatives and announced attractive incentives including capital subsidies, tax rebates, and reduced customs and excise duties. Increasing focus is also being given to supply-chain related infrastructures, such as cold chains, abattoirs and food parks.
The whole idea is to spur greater growth in the food processing sector as well as connect farmers with the value chain to increase their returns. It is with this objective that the event ‘World Food India’ has been conceptualized to provide a platform to showcase India’s strengths in the sector and to attract major investments in the sector.
At World Food India all small, big and multinational companies from across the world are expected to represent and meet Indian potential companies to partner with. At the same time, the Minister said, she expects all state governments and their departments to allow single window clearances and other statutory clearances. World Food India 2017 is the step aimed at creating India a Global Food Factory and Global Food Retail Market. The Ministry of Food Processing Industries was in the process of collating and addressing issues related to the sector, with an aim to facilitate investors and help build investors’ confidence to boost engagement of foreign investors, at the World Food India, later this year.
It may be noted that World Food India 2017 – a three-day flagship event is being organised by Ministry of Food Processing Industries in which CII will be event partner. The event will focus on showcasing achievements and opportunities of the Indian Food Processing Sector and fostering maximum investment commitments. The event will also provide a platform for exhibiting innovative products and manufacturing processes showcasing the entire value chain of food processing industry with a vision to leverage innovation, technology, development and sustainability in the backdrop of achieving food security.
