According to the Telangana government, the ‘Food Conclave 2023’ concluded on a high note last Saturday, with an investment of more than INR 7,000 crore being attracted. This investment is expected to create over 58,000 direct jobs.
As per a press release issued by the state government, the one-day ‘Food Conclave 2023’ has a reputation as one of the most prestigious and influential gatherings in the food-agri community. The release stated that the event showcased a range of new partnerships and investments, strengthening its position as a crucial platform for shaping the future of the industry.
Industries Minister K T Rama Rao, in his inaugural address, said Telangana identifies food processing as a core thrust area and during the past five years, the state has added more than INR 7,000 crore worth fixed capital base to food processing capacities in order to boost the sector.
“At the end of the conclave, the state received more than INR 7,000 crore investment commitment across the sectors in aqua, dairy, agro processing, and allied sectors creating total direct employment of 58,458 by way of these investment opportunities,” he said.
In addition to this, Rama Rao inaugurated the ‘Innovation in Food Processing Grand Challenge’, which invites startups and innovators from Telangana and across India to develop solutions that can improve local food processing. It has been announced that the Food Conclave will now become an annual event.