Commerce and Industry Minister Piyush Goyal on Wednesday expressed hope that steps such as focus on self-sufficiency, technology, stronger currency and fundamentals would help India become a USD 55-trillion economy by 2047. 

Vietnamese Prime Minister Pham Minh Chinh has called for stronger economic cooperation between Vietnam and India, setting an ambitious target of $20 billion in bilateral trade.

It is observed that the Food Processing Industries have emerged as an important part of the Indian economy in terms of its contribution to Gross Domestic Product (GDP), employment, exports and so on. During the last eight years ending 2022-23, food processing sector has been growing at an Average Annual Growth Rate (AAGR) of around 5.35%.

The negotiations to review the free trade agreements (FTAs) implemented with Japan, Korea, and Asean are moving slow but India is pursuing those talks, Commerce and Industry Minister Piyush Goyal said on Tuesday. He said these agreements were signed and implemented during the UPA regime.

Soon, packaged food companies will have to disclose details of genetically modified (GM) ingredients used in processed food on the labels.

India's import of pulses rose 90 per cent annually to 47.38 lakh tonnes during 2023-24 to meet domestic demand, the government informed Parliament on Tuesday. 'All India production of pulses has increased from 163.23 lakh tonnes during 2015-16 to 244.93 lakh tonnes during 2023-24 (as per 3rd Advance Estimates),' the Minister of State for Agriculture Ram Nath Thakur said in a written reply to the Lok Sabha.

Chief Minister Dr. Mohan Yadav emphasized that entrepreneurs and farmers involved in food processing and horticulture should aim to double their activities and production capacity within the next five years. He assured that the state government is ready to offer comprehensive financial and technical support. 

Department of Agriculture & Farmers' Welfare is implementing 'Innovation and Agri-Entrepreneurship Development' programme under Rashtriya Krishi Vikas Yojana (RKVY) from 2018-19, with the objective of promoting innovation and agri-entrepreneurship, by providing financial and technical support for nurturing startups. 

The Federal Government through the Nigeria Customs Service, NCS, has suspended import duties on rice, flour, wheat and other essential food items to reduce the high costs of food items in the country in the wake of the excruciating hunger in Nigeria.