Prime Minister Narendra Modi stated that India has three strengths: diversity, demand, and scale. He added that the nation produces all kinds of fruits, vegetables, and grains, which gives it a special place in the world economy.
Speaking to a crowd at the “World Food India 2025” event at Bharat Mandapam in this city, the prime minister stated that before investing, any investor considers a location’s inherent advantages.
He emphasized that investors from around the world, particularly those in the food industry, are now quite optimistic about India.
According to PM Modi, India’s great culinary diversity is reflected in the food and flavors that change every 100 kilometers. The prime minister emphasized that India has a competitive advantage and is a top investment destination because of its robust domestic demand.
“India is functioning on a scale that has never been seen before. The Prime Minister said that 25 crore people have risen out of poverty in the last ten years and are now part of the neo middle class, which is India’s most vibrant and aspiring demographic. The aspirations of this class are influencing food trends and driving consumption.
He emphasized that the food industry is just one of several industries where India’s bright young people are innovating.
With numerous start-ups operating in the food and agriculture industries, Modi declared that India is now the third-largest start-up ecosystem in the world. He also noted that the industry is integrating technology like artificial intelligence (AI), e-commerce, drones, and apps, which are revolutionizing supply chains, retail, and processing techniques.
He confirmed that the main reasons India is the most desirable place to invest are its diversity, demand, and innovation.
“Now is the right time to invest and expand in India,” the Prime Minister said, restating his message from the Red Fort.
“The government is strengthening the entire food and nutrition ecosystem by engaging every stakeholder,” the Prime Minister said, highlighting India’s commitment to increasing its capabilities and contribution in the global interest.
He emphasized that 100% FDI is now allowed and that the food processing industry is being actively encouraged. He pointed out that the PLI program and the growth of giant food parks had also helped the industry. India is currently operating the biggest storage infrastructure project in the world, Modi said.
PM Modi confirmed that the government’s efforts are paying off, as processed food exports have more than doubled and India’s processing capacity has grown twentyfold in the last ten years.
PM Modi said that the government is assisting these groups through credit-linked subsidies and that Rs 800 crore has already been disbursed to recipients, pointing out that self-help groups, which comprise crores of people throughout India, are running micro food processing units.
He emphasized the government’s efforts to connect lakhs of small farmers through Farmer Producer Organizations (FPOs), of which 10,000 have been founded since 2014.
The Prime Minister declared, “India is moving forward on a new path of innovation and reforms, with widespread discussion around the Next Generation GST reforms,” emphasizing that these reforms will benefit farmers by lowering costs and increasing profits.