On Wednesday, the Center announced that the second edition of World Food India, scheduled for November 3-5 in the national capital, is expected to draw an investment exceeding INR 75,000 crore in the food processing sector. The first edition took place in 2017, but consecutive editions had to be canceled in the following years due to the COVID-19 pandemic.
“We have requested Prime Minister (Narendra Modi) to inaugurate World Food India (WFI) 2023 to be held at Pragati Maidan here. For the valedictory function, the President of India will be present,” Minister of State for Food Processing Industries Prahlad Singh Patel said.
India’s food processing sector presents numerous investment opportunities. Notably, certain companies have already expressed their intent to make investment commitments, which will be formally announced during World Food India 2023, he noted.
The minister said, “China has not been invited for the event due to strategic reasons.”
The event is expected to witness the participation of approximately 16 countries, 23 state governments, 11 Union ministries, and central bodies. It anticipates hosting 950 exhibitors and welcoming 75,000 visitors, he mentioned.
The Netherlands will serve as the partner country for World Food India 2023, with a special focus on Japan and Vietnam, he further added.
Additional Secretary in the Food Processing Industries Minhaj Alam, in his presentation, said about INR 642 crore indicated investment has been committed by Britannia, GreenGrahi, Foods and Inns Ltd, St Peter & Paul Sea Food Exports as well as US-based General Mills so far.
A verbal investment commitment has been received from Swiss-based Buhler Group, US-based Mondelez and Coca Cola and UAE-based Lulu Group, he said.
“We are expecting to cross INR 75,000 crore investment this time,” Alam told PTI on the sidelines of the press briefing.
Asked about the status of investment received in the first edition of the World Food India, the official said, “We had received a commitment for an investment of INR 75,000 crore, out of which INR 23,000 crore has come.”
The investments were expected to fructify in three years. Due to the pandemic, there was a delay, he added.
Sanoj Kumar Jha, Additional Secretary in the Food Processing Industries, was also present at the briefing.
The focus areas would be millets, unlocking the potential for growth, positioning India as the global hub, efficient ecosystem, and sustainable development.
The event will see 60 to 80 chefs making the world’s longest ‘Millet dosa’ of over 100 feet in attempt to set a Guinness Record.