On November 3rd, in New Delhi, Prime Minister Narendra Modi asserted that India's culinary diversity serves as a valuable asset for global investors. He made these remarks while inaugurating the World Food India 2023 festival at Pragati Maidan in Delhi.

During the event, Prime Minister Modi disbursed seed capital assistance to support over one hundred thousand members of self-help groups (SHGs), enhancing their capacity.

He praised the technology and startup pavilion and the vibrant food street showcased at the event, highlighting the harmonious fusion of technology and taste as a pathway to the future economy.

Emphasizing the significance of food security, Modi noted that Indian startups are increasingly seen as attractive investment opportunities in this domain. He specifically mentioned the potential benefits for women-led self-help groups (SHGs) in the food processing sector.

Modi underscored that the achievements of World Food India exemplify the recognition of India's food processing sector as a promising "sunrise sector." Over the past nine years, this sector has drawn foreign direct investments exceeding Rs 50,000 crores, thanks to government policies supporting both industry and agriculture.

Modi credited the Production-Linked Incentive (PLI) scheme for food processing, which has significantly aided newcomers in the industry.

Furthermore, he highlighted the substantial investment in post-harvest infrastructure, amounting to more than Rs 50,000 crores, under the Agricultural Infrastructure Fund. Investment in processing infrastructure for fisheries and animal husbandry is also being actively encouraged, amounting to thousands of crores.

Modi affirmed that the government's investor-friendly policies are propelling the food sector to new heights. He noted that the proportion of processed foods in India's agricultural exports has surged from 13 percent to 23 percent in the past nine years, representing a remarkable 150 percent overall growth in exported processed foods. India now ranks 7th globally in agricultural exports, with a total export value of more than $50,000 million.

Modi highlighted the remarkable growth in every facet of the food processing industry and underscored the golden opportunities available to companies and startups operating within this sector.

He attributed the rapid expansion of India's food processing industry to consistent and dedicated government efforts, including the creation of the Agri-Export Policy, nationwide logistics and infrastructure development, the establishment of over 100 district-level hubs connecting districts to global markets, the expansion of mega food parks from two to more than 20, and the growth of India's food processing capacity from 12 lakh metric tonnes to over 200 lakh metric tonnes, reflecting a 15-fold increase over the past nine years.