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13 MoUs worth Rs 68,000 crore signed on inaugural day of WFI 2017

New Delhi: The inaugural day of World Food India 2017 saw the signing of 13 MoUs worth Rs 68,000 crore. The MoUs were signed in the presence of Smt. Harsimrat Kaur Badal, Union Minister for Food Processing industries, Government of India.

The companies who signed a MoU signaling their intent and seriousness about India included PepsiCo which signed a MoU worth Rs 13,300 crores for setting up a Food and Beverage plant, Coca-Cola for investing Rs. 11,000 crore in juice bottling infrastructure and fruit processing plants and equipment; ITC and Patanjali who committed to invest Rs 10,000 crore each in the sector.

Other MoUs signed included Amazon in food retail business, Sharaf Group of UAE for Farm produce, collection, processing, and Export; YES Bank for financing food processing projects across the sector.

Commenting on the MoUs, the Union Minister for Food Processing Smt. Harsimrat Kaur Badal stated, “The Govt has been successful in generating tremendous interest among global and Indian food companies in investing in this sector. These investments will help us realize the goal of doubling farmers‘ income as well as generating massive employment in the food processing sector.”