Rs 10,000 Crore MoU signed between Govt of India & Patanjali

A memorandum of understanding (MoU) of Rs 10, 000 Crore was signed between the Government of India (GoI) and Patanjali on Friday at the World Food India 2017.

The MoU was signed by Managing Director of Patanjali, Acharya Balkrishna and Harsimrat Kaur Badal, the Union Cabinet Minister of Food Processing in the Government of India.

Speaking to ANI, Acharya Balkrishna said, "World Food India 2017 is a great initiative. This will generate new opportunities. This event will help people."

"In our country there are lots of issues and adulteration in food is one of them. Duplicity is more dangerous than adulteration. Even foods not been processed in one of the issue. Hope steps will be taken up to deal with these issues", he added.

Meanwhile, Harsimrat Kaur Badal, the Union Cabinet Minister of Food Processing also asserted, " This event that has brought together stakeholders from all food value chains to collaborate the increase in food processing in India."

"Since food processing sector is the largest employment generator so youngsters of our country will get access to employment. Besides generating revenue this will help in the development of the country," she added.

The World Food India 2017 organised at Delhi's Vigyan Bhawan was inaugurated by Prime Minister Narendra Modi earlier in the day.

The three day-long event, organised by the Ministry of Food Processing Industries, is set to host a congregation of global investors and business leaders of major food companies from November 3 to 5 in New Delhi.

Earlier in October, Patanjali climbed from 45th place last year to 19th this year, in the Forbes magazine's Annual India Rich List 2017.