Giant business companies in India and abroad including PepsiCo, Amazon, Britannia, Hershey and Coca-Cola have committed investments of $10.24 billion or about Rs. 68000 crore in Indian processed food industry.
Apart from these companies, ITC, Patanjali, Cargill and Yes Bank also have signed Memorandum of Understanding (MoU) at the on-going World Food India event in Delhi.
PepsiCo committed Rs.13, 300 crore for setting up a food and beverage plant and the Coca-Cola will invest Rs. 11,000 crore. FMCG firm, ITC and Patanjali will invest Rs. 10,000 crore each.
E-commerce giant Amazon committed investments in the food retail business, while Janani Foods, Metro, Cargill, Britannia, Hershey’s, Blue Star India, Sharaf Group of UAE and Yes Bank committed investments across food processing projects, manufacturing, exports and financing.
Harsimrat Kaur Badal, Union Food Processing Industries Minister said, this investment will help us to achieve the goal of doubling farmers’ income as well as generate employment opportunities in food processing sector.