Prime Minister Narendra Modi emphasized the burgeoning potential of India’s food processing industry, attributing its success to the government’s investor-friendly policies and the increasing trend of urbanization, which has generated a robust demand for packaged food and unique crops sought after in foreign markets. Speaking at the 2023 World Food India event, the Prime Minister also advocated for the “one district, one product” initiative and disbursed Seed Capital Assistance to one lakh women engaged in Self-Help Groups, emphasizing the natural leadership abilities of women in the food processing sector.
Modi hailed the food processing industry as a “sunrise sector,” noting its significant growth over the past nine years, attracting over ₹50,000 crore in foreign direct investment (FDI), primarily due to the pro-farmer and pro-industry policies of his government. The Agri-Infra Fund has been instrumental in initiating numerous post-harvest infrastructure projects with an investment exceeding ₹50,000 crore, and similar support is being extended to processing infrastructure in the fisheries and animal husbandry sectors.
“The investor-friendly policies of the government are propelling the food sector to new heights. This has resulted in a rise from 13% to 23% in the share of processed foods in India’s agricultural exports, representing a 150% increase,” he stated.
As a result of these developments, India has climbed to the 7th position in overall agricultural exports, with a value exceeding $50,000 million, according to the Prime Minister.