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Food processing attracts heavy investment, US a key contributor: minister

Press Trust of India  |  New Delhi 

India's sector has attracted heavy investment and the US has played a key role in the industry's initiatives, of State for Sadhvi said Friday.

"India's goal of bringing to global standards has brought about heavy investment, and is playing a significant role in the industry's initiatives," a statement quoting the as said at the 14th Indo-US Economic Summit hosted by the industry body IACC.

Stating that the relations between and the US in recent years has deepened, she said that the government has worked tirelessly towards the mission of 'Sabka Saath, Sabka Vikas'.

"This spirit of inclusive growth is not only beneficial for Indian farmers whose income the government has sought to double by 2022, but also for international partners like America, and can create economic prosperity for all," she added.

Speaking at the event, Senior (Food and Agri Strategic Advisory and Research) said is catalysing a revolution in food processing, and this environment has created many opportunities for collaboration between and the US.

A recommended pathway for this collaboration can be investment in entire value chains. These can mitigate food wastage losses, bring global best practices and technologies like superior cold chains to India, and sell Indian goods in global markets, he said in a statement.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, September 14 2018. 21:55 IST