An international food event will be organised during November 3-5 in the national capital to showcase investment opportunities in India's food processing sector, Union Minister Pashupati Kumar Paras announced on Friday. "We have requested Prime Minister (Narendra Modi) to inaugurate World Food India (WFI) 2023 to be held at Pragati Maidan here," said Paras, the Minister of Food Processing Industries.
There are a lot of opportunities for investment in India's food processing sector, Paras said, adding this will be showcased to domestic as well as global investors at this event. India also has the capacity to become the world's food basket, he said, and highlighted that the country is the largest and second largest producer of many important agriculture crops.
This will be the second edition of World Food India (WFI), with the first one held in 2017. The three-day event will be organised by the Ministry of Food Processing Industries. Union Minister of State for Food Processing Prahlad Singh Patel stressed on boosting exports of processed food.
He also emphasised on use of latest technology and innovation for the growth of this sector. The World Food India will provide a unique platform to all stakeholders related to food processing sector, Food Processing Secretary Anita Praveen said.
She said the event will showcase strength of India in millets production. Praveen highlighted that the food processing sector has grown at 8.3 per cent annually in the last five years. The sector has attracted over USD 6 billion worth FDI (foreign direct investment) since 2014-15, she said, adding that the sector generates huge employment and also contributes significantly in India's total agricultural export basket.
Industry body FICCI will be the event partner while Invest India will be investment facilitation partner and Ernst & Young knowledge partner. The event will witness participation from industry stakeholders apart from various state governments and union territories.
The World Food India will aim to position and promote India as the World's food basket with millets, organic produce and indigenous processed food as some of the focus areas. It will showcase opportunities available in food processing sector so as to enable global stakeholders to be part of this growth story.