WASHINGTON, DC– Jagdish Prasad Meena, Special Secretary in the Ministry of Food Processing Industries, has bugun an intensive two-day round of meetings with high-level officials from several Chicagoland food services, logistics and restaurant companies, urging them to take advantage of India’s liberalized foreign investment rules, readymade infrastructure and improving ease-of-doing-business climate.
Given its size and location in the Midwest, Chicago has been the hub of the U.S. food and food processing industry and is home to many of the world’s leading food and agriculture companies. Special Secretary Meena will meet with Potbelly, headquartered in downtown Chicago, and Mondelez, which has a bakery in the Chicago Lawn neighborhood. Meetings are also scheduled with Sensient, Griffith Foods, and Ingredion, etc.
Under Prime Minister NarendraModi, India has significantly liberalized foreign direct investment (FDI) regulations, and now allows 100 percent FDI in manufacturing of food products and 100 percent FDI in trading including e-commerce in food products manufactured and/or produced in India. India has undertaken several national and state-level programs to improve the nation’s standing in the World Bank’s annual Ease of Doing Business Index.
India’s food processing industry is experiencing significant growth and boasts existing infrastructure in new Mega Food Parks around the country as well as state-of-the-art Cold Chain facilities.
From Nov. 3-5, 2017, New Delhi will host the World Food India 2017, a first-of-its-kind mega-scale event showcasing the large agricultural/horticultural produce base of India and its huge young population, providing a ready market providing immense investment opportunities for the entire food processing and food retail sector. Leading U.S. companies are invited to learn about India’s proactive policies and profitable opportunities available across the entire food processing and food retail value chain.