MoFPI to set up special cell at Invest India to monitor grounding of USD 18.84 billion MoUs signed at World Food India
Updated: November 06, 2017
Harsimrat Kaur Badal, Minister for Food Processing Industries
(MoFPI), Government of India has said that a special cell will be set up Invest India, the facilitation agency for investment in India, to monitor and follow up with MoUs worth USD 18.84 billion signed during the World Food India 2017 exposition and investment meet in Delhi. She was speaking at the valedictory of the three-day event at Vigyan Bhavan in New Delhi. She said that the cell will do the necessary hand-holding required among various agencies of the government and the private stakeholders to make sure that all those MoUs signed during the meet are grounded in the next two years time.
Talking about the three-day event, the Minister said that the World Food India has successfully put India on the global map and became a launch pad to make India the global food factory. Around 8,000 B2B and B2G meetings were held at the World Food India event
. Over 50 MoUs were signed, she said. Around 10,000 people attended various conferences that took place around the event.
She said that a global collaborative approach is required to reduce the wastage that happen in the journey of food from farm to fork as the land is shrinking and the population is growing. While farm output in many countries have saturated, the world is looking towards India as we have so far been able to process only 10% of the total farm produce. She enumerated various incentives that the government has announced in the last three years, including the 100% FDI in the food processing sector.
Chief Guest at the valedictory, the President of India, Ram Nath Kovind suggested a time bound action plan to reduce the food wastage. Close to 16% of guava crop and more than 10% of mango and apple crop are wasted because of lack of processing facilities, the President said. He said that there are limitless opportunities in food and food processing sector of India. India’s food story has worldwide implications and therefore World Food India, the President said, gave stakeholders of the business an opportunity to chew about, invest and ultimately digest.
Source: The Hospitality Biz India