Doing business in India easier now: Modi

Nov 04, 2017, 00:32
Doing business in India easier now: Modi

Prime Minister Narendra Modi today said food processing was a top priority in government's Make In India initiative and doing business in India is easier now.

Khichdi will be promoted as "Brand India food" at the event.

Representatives from 28 states, 18 ministerial and business delegations, almost 50 global CEOs along with CEOs of all leading domestic food processing companies will also participate at the event.

India is witnessing World Food India 2017, an investment opportunity for world's food processing fraternity. He pointed out that India was ranked number one in the world in 2016 in Greenfield investment.

India, he said, is one of fastest growing economies in the world and implementation of the Goods and Services Tax (GST) from July 1 has eliminated multiplicity of taxes.

He further said that the private sector participation has gone up in many segments of value chain, but more investment is required in contract farming, raw material sourcing and creating agri linkages.

"There are opportunities in post-harvest management, like primary processing and storage, preservation infra, cold chain and refrigerated transportation". India is expected to attract an investment of $10 billion in food processing sector and generate one million jobs in the next three years.

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The making of "Khidchi" will take place in the presence of Vice President M Venkaiah Naidu and Minister of Food Processing Industries Harsimrat Kaur Badal at India Gate at 12.30 pm.

He also spoke of the government targeting doubling of farmers' income in five years.

The Centre is also launching a special portal – Nivesh Bandhu – to assist investors by providing information about government's policies, agro-producing clusters, infrastructure and potential areas of investment in the food processing sector. He also released a commemorative postage stamp on Indian food.

The prime minister gave credit to the farmers as being central to the country's efforts in food processing.

She said there was a need to wage war on food waste "to ensure adequate food for all" and to avoid a food crisis as the world's population was set to increase by 25 per cent and the demand for food by 50 per cent by 2050.

The funds were received by the food processing units under the scheme for Technology Upgradation, Establishment and Modernisation exercises. "Being six largest food and grocery market in the world, India is a destination that merits global attention in the food sector".

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