PM Modi provided Seed Capital Assistance to over one lakh SHG members
FinTech BizNews Service
Mumbai, November 4, 2023: The inauguration of the second edition of the 'World Food India 2023' mega food event took place on Friday at Bharat Mandapam, Pragati Maidan, in New Delhi, with Prime Minister Narendra Modi presiding over the event. During the inauguration, the Prime Minister provided Seed Capital Assistance to over one lakh Self Help Group (SHG) members, reinforcing the support for these groups. Prime Minister Modi also toured the exhibition displayed on the occasion.
The primary objective of the event is to present India as the 'food basket of the world' and commemorate 2023 as the International Year of Millets. In his address, the Prime Minister praised the technology and startup pavilion as well as the food street featured at the event, emphasizing that the fusion of technology and culinary excellence will shape the future economy. Prime Minister Modi highlighted the pressing challenge of food security in today's changing world and underscored the importance of World Food India 2023 in this context.
The Prime Minister emphasized the significant recognition received by India's food processing sector, often referred to as the 'sunrise sector,' owing to the outcomes of World Food India. He said that in the past nine years, the sector has attracted foreign direct investments exceeding Rs 50,000 crores, thanks to the government's industry-friendly and farmer-centric policies. Prime Minister also mentioned the progress made under the Production-Linked Incentive (PLI) scheme in the food processing sector, which has greatly aided new entrants. He further highlighted the ongoing projects under the Agri-Infra Fund, focusing on post-harvest infrastructure, with an investment exceeding Rs 50,000 crores. Additionally, investments in processing infrastructure in the fisheries and animal husbandry sector, amounting to thousands of crores, were encouraged.
The Prime Minister highlighted India's remarkable progress in the food processing sector, crediting the government's dedicated efforts. He mentioned the creation of the Agri-Export Policy, development of nationwide logistics and infrastructure, establishment of district-level hubs, expansion of Mega Food Parks, and significant increase in India's food processing capacity. Modi also mentioned unique agricultural products being exported from India, such as black garlic from Himachal Pradesh, dragon fruit from Jammu & Kashmir, soya milk powder from Madhya Pradesh, and others.
Modi emphasized the importance of women-led development in India and highlighted the contributions of women to the food processing industry. He mentioned the promotion of cottage industries and self-help groups for women and the disbursal of seed capital to over 1 lakh women on the occasion.
The Prime Minister discussed India's rich food diversity and cultural heritage, emphasizing the importance of sustainable food habits linked with Ayurveda. He stressed the need for the food processing industry to implement ancient knowledge for global food security. Modi acknowledged 2023 as the International Year of Millets and encouraged discussions on increasing the use of millets globally.
Modi emphasized sustainable agriculture, food security, and nutrition security, as highlighted in the G-20 Delhi declaration. He stressed the role of all partners in the food processing industry and urged the reduction of post-harvest losses through technology. The Prime Minister expressed confidence that the event's conclusions will pave the way for a sustainable and food-secure future globally.
Union Ministers, Piyush Goyal, Pashupati Kumar Paras, Giriraj Singh, Parshottam Rupala, and Prahlad Singh Patel, were present on the occasion.
On the first day of World Food India 2023, a total of 16 Memoranda of Understanding (MoUs) were signed between the Ministry of Food Processing Industries (MoFPI) and various industry entities. These agreements amounted to a total investment of around Rs 17,990 crore. Notable companies participating in these MoUs included Mondelez, Kellog, ITC, Innobev, Nedspice, Ananda, General Mills, and Ab Inbev, among others.
The Ministry of Food Processing Industries, Government of India, organized a Roundtable discussion on the inaugural day of World Food India 2023 . The event was co-chaired by Union Minister Pashupati Kumar Paras, Ministry of Food Processing Industries and Union Minister Piyush Goyal, the Ministry of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles. The Roundtable brought together senior government officials and CEOs from over 70 leading companies operating in the food processing and allied sectors. The discussions in the Roundtable primarily revolved around topics such as ease of doing business, investment and sourcing interests, and gathering industry insights on the existing gaps in the value chain within the Indian Food Processing Sector. The event, except for food street, shall be open for visit without any entry fee.
