Prime Minister Narendra Modi today said food processing is a top priority in government’s Make In India initiative and doing business in India is easier now. Inaugurating World Food India 2017 in New Delhi today, Mr Modi said India has huge global potential as it is one of the fastest growing economies in the world and GST has eliminated multiplicity of taxes.
He said India has jumped 30 ranks this year in the World Bank Doing Business rankings. He pointed out that India was ranked number one in the world in 2016 in Greenfield investment. He said India is also rapidly progressing on the Global Innovation Index, Global Logistics Index and Global Competitiveness Index.
The Prime Minister said there are opportunities in post-harvest management, like primary processing and storage, cold chain and refrigerated transportation. He said there is also immense potential for food processing and value addition in areas such as organic and fortified foods.
Mr Modi pointed out that private sector participation has been increasing in many segments of the value chain. He said more investment is required in contract farming, raw material sourcing and creating agri linkages. He said it is a clear opportunity for global chains.
The Prime Minister said food processing is a way of life in India and it has been practiced for ages. He said simple, home-based techniques, such as fermentation, have resulted in the creation of pickles, papads, chutneys and murabbas.
On the occasion, Mr Modi launched the Nivesh Bandhu portal which will give details about investment opportunities in the country’s food processing sector. He also released a commemorative postage stamp on Indian food.
Earlier, addressing the gathering, Food Processing Minister Harsimrat Kaur Badal expressed confidence that World Food India will help transform the Indian food economy. She said she is looking forward to collaborating with global companies in the sector. The Minister said investment proposals for 65,000 crore rupees have been received which would create more than 10 lakh jobs.