CEOs lauds PM Modi for India's improvement in World Bank Report

Prime Minister Narendra Modi on Friday interacted with global Chief Executive Officers (CEOs) of food processing sector in the ongoing World Food India event.

A statement issued by the Prime Minister's Office (PMO) mentions that the CEOs appreciated Prime Minister Modi on the massive improvement in India's rank in the recent World Bank Doing Business Report.

"Various CEOs complimented the Prime Minister on the massive improvement in India's rank in the recent World Bank Doing Business Report," it said.

"A heartening discussion around potential in India. Left with good feeling of future and its potential," Steven Schiller, The Hershey Company.

Varun Berry, Britania Industries Ltd, "Excellent meeting. He (PM) heard all of us, understood points we made and responded to each one of those."

"Many CEOs said that they were inspired by the Prime Minister's vision of doubling farm incomes, and the pace and progress of economic reforms over the last three years under his leadership. They especially appreciated the structural reforms and bold initiatives such as GST and the liberalization of the FDI regime," reads the statement.

In the meeting, the CEOs presented an overview of growth in India's food processing, agriculture, logistics, and retail sectors.

They even reaffirmed their commitment to be part of India's growth.

"The participants in the meeting stressed that the food processing sector is vital for raising farm productivity, food and nutrition security, creating jobs, and adding value to agricultural produce. The CEOs presented an overview of their engagement and initiatives for inclusive growth in India's food processing, agriculture, logistics, and retail sectors. They showed keen interest in opportunities that exist, for strengthening the post-harvest infrastructure. They reaffirmed their commitment to be a part of India's growth story," the statement further reads.

The Prime Minister welcomed the measures being taken by the participants in raising agricultural productivity and farmers' incomes and thanked the CEOs for sharing their views.

During the meeting, Modi said, "India's rising middle class, and the policy-driven initiatives of the Government, are opening up several win-win opportunities for all stakeholders in the food processing ecosystem."

CEOs and officials of companies including Amazon (India), Amway, Britannia Industries, Cargill Asia Pacific, Coca-Cola India, Danfoss, Future Group, GlaxoSmithKline, Ise Foods, ITC, Kikkoman, LuLu Group, McCain, Metro Cash & Carry, Mondelez International, Nestle, OSI Group, PepsiCo India, Sealed Air, Sharaf Group, Spar International, The Hain Celestial Group, The Hershey Company, Trent Ltd, and Walmart India were present at the meeting.

Harsimrat Kaur Badal, Minister for Food Processing Industries, Sadhvi Niranjan Jyoti, Minister of State for Food Processing Industries and senior officials from the Union Government were also present.