NEW DELHI: PM Narendra Modi on Friday said that rapid urbanisation is pushing up demand for packaged food and urged companies to tap into India’s food diversity, arguing that it will help them reap dividends in the coming years, even as he urged cutting down on post-harvest losses and food wastage to bolster food security.
Citing the growing demand within the country, Modisaid that the food processing sector has attracted Rs 50,000 crore foreign direct investment (FDI) during the last nine years, with processed food exports rising 150%.Citing how investor-friendly policies have helped the food sector, Modi said the share of processed food in the export of agri products has increased from 13% to 23%.
Before his address at the second edition of World Food India at Bharat Mandapam here, the PM disbursed seed capital assistance worth Rs 380 crore to over one lakh self help groups (SHGs) and inaugurated a ‘food street’ as part of the event.
Modi said that rapid urbanisation offers huge “unexplored opportunities” for farmers, start-ups and small entrepreneurs in this sector. He said, “Urbanisation in India is happening at a rapid pace. Because of increasing employment opportunities, now more people are working out of home. This has pushed the demand for packaged food and it is growing.” He urged the entrepreneurs to plan big to tap this opportunity.
More than 80 countries, 200 speakers and 12 partner ministries, departments and commodity boards are scheduled to take part in the World Food India 2023.
In his address, the PM highlighted measures such as production linked incentive scheme, and establishment of mega food parks for further development of the food processing sector. He said about Rs 50,000 crore investment has been made to set up post-crop harvest related infrastructure projects under Agri Infra Fund.

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