India''s food processing sector presents lots of opportunities for investments for the private sector players, Union Minister Harsimrat Kaur Badal said.
Badal, the Minister of Food Processing and Industries, launched the food processing edition of the exclusive investment forum by Invest India, the National Investment Promotion & Facilitation Agency of the central government, an official statement said.
Invest India has designed this forum of unique sectoral series to conduct detailed conversations between global industry leaders and key decision makers from the highest levels of the central and state governments.
The forum witnessed participation from the senior most policy makers from the Union government and six state governments – Andhra Pradesh, Assam, Madhya Pradesh, Punjab, Telangana and Uttar Pradesh.
Around 180 companies from 18 countries also participated in the forum, it added.
Due to the COVID-19 pandemic, Badal said the sector has seen unique challenges and has been playing a very important role in ensuring that the lockdown was successful.
A few challenges that are currently being faced by the industry are dip in global trade and decline in domestic demand, she said.
Badal said these challenges are leading to opening up of new opportunities such as this exclusive forum.
The minister said there are ample opportunities available in the Indian food processing sector.
She informed that many projects funded by the ministry have also been getting new orders from new geographies recently.
With the focus on importance of nutritional food, people know that the Indian metabolism has managed to handle COVID better than many other countries.
Superfoods in India need to be highlighted to the western world, she said.
Additionally, Badal said the ''Ready to Eat'' segment is a low hanging fruit.
She informed the government''s decision of forming Empowered Group of Secretaries (EGoS)'' and ''Project Development Cell'' (PDC) in ministries / departments for attracting and supporting domestic as well as foreign investments.