Stating that the US is committed to an Indo-Pacific that is free and open, Secretary of Treasury Janet Yellen said that Washington is increasing its trade with countries like India, Vietnam and Mexico reducing its dependence on China.

 

Yellen said that she along with President Biden will head Asia-Pacific Economic Cooperation (APEC) Leaders' Week later this month in California.

 

'Recognizing this big picture, the Biden Administration is pursuing an approach to the Indo-Pacific that furthers our country's long history of engagement and does justice to the region's importance for our and the world's future,' Yellen said in a statement.

 

'US is committed to an Indo-Pacific that is free and open, connected, prosperous, secure, and resilient,' she added.

 

The US Treasury Secretary said that the Biden administration is working to tackle challenges and seize opportunities and is also deepening economic integration and harnessing technological transformation.

 

She further highlighted three priorities to showcase the US' economic strategy in the Indo-Pacific region; increasing trade and investment, bolstering our economic resilience, and cooperating on global challenges.

 

'First, the Biden Administration is committed to expanding our trade and investment with Indo-Pacific countries. Trade between the US and the Indo-Pacific region has steadily increased over the past decade, reaching USD 2.28 trillion in 2022. It has increased over 25 per cent since just 2019, despite a pandemic dip. Indeed, trade in most sectors recovered to pre-pandemic levels by 2021 and then continued to grow.

 

It added, 'Across sectors from auto parts to electronics, the US is importing more from key partners like India and Vietnam, as well as from Mexico, and is less dependent on one single country, in this case, China'.

 

She further said that the economic engagement with the Indo-Pacific is needed to address the urgent global challenges of our time.

 

'The Indo-Pacific region is highly vulnerable to climate change. A significant majority of the region's population is dependent on the oceans. And Pacific Islands face the increasingly likely possibility of losing land due to sea level rise, with severe potential consequences for their people and economies. The interconnectedness of our economies and our shared goal of a viable future on this planet leaves us no choice but to support Indo-Pacific countries in addressing these challenges and realizing the opportunities of the energy transition,' she said.

 

Stating that the Indo-Pacific is at the center of the 21st-century global economy, the US Treasury Secretary said that the growth and innovation in the US, paired with its engagement in the region, is helping realize the tremendous potential of the region.

 

'From the Quad to IPEF, from Vietnam to India, we are increasing trade and investment, bolstering our supply chains, and addressing global challenges. And at APEC later this month and far beyond it, we will only continue to expand and deepen our engagement. Jobs and security at home in the United States, the growth and resilience of Indo-Pacific economies, and the strength of our global economy depends on it,' Yellen added.

Mega food show will continue till Nov 5 at Bharat Mandapam

 

APEDA inks MoU with Saudi Food and Drug Authority (SFDA) and LuLu Group

 

As a part of its initiatives to give a push to export promotion of agricultural products, the Agricultural and Processed Food Products Export Development Authority (APEDA), which works under the Ministry of Commerce and Industry, Govt. of India, has actively participated in second edition of World Food India (WFI) 2023and showcased a varied range of agricultural products at its pavilion.

 

While inaugurating the second edition of the ‘World Food India 2023: Processing for Prosperity of Mega Food’, Hon’ble Prime Minister Shri Narendra Modi announced providing seed capital assistance to over one lakh Self Help Group (SHG) members on November 3, 2023.

 

Along with the Hon’ble PM, who take a tour of the exhibition, Shri Pashupati Kumar Paras, Minister of Food Processing Industries, Shri. PiyushGoyel, Minister of Commerce and Industry, Shri Giriraj Singh, Minister of Rural Development and Panchayati Raj, Shri. ParshottamRupala, Minister of Fisheries, Animal Husbandary, and Dairying and Shri Prahlad Singh Patel, Minister of State for Food Processing, participated in inaugural event.

 

The mega food show, which is being organized by Ministry of Food Processing Industries, is being held at Bharat Mandapam, PragatiMaidan, in New Delhi and will continue till November 05, 2023.

 

In an interactive session at WFI 2023, APEDA Chairman Abhishek Dev said that along with the raw agricultural produce of farmers, value added products are also equally important as it has a huge demand in the international markets. On the occasion, APEDA and Saudi Food and Drug Authority (SFDA) signed an agreement for the export of agri products from India to Saudi Arabia.

 

The agreement was signed by Mr. Sami S. AI Sager, Vice President, SFDA and MrAbhishek Dev, Chairman, APEDA. Besides, APEDA also entered into an agreement with global retail giant Lulu Hypermarket LLC. The MoU was signed between Mr Yusuf Ali MA, Chairman-cum-Managing Director of LuLu Group and APEDA Chairman at the WFI 2023.

 

Twelve export companies from Andhra Pradesh and Telangana state such as M/s. Kavya Agro, M/s Terra Firma Organics Pvt. Ltd., M/s. Sresta Natural Bioproducts Pvt Ltd.M/s. Frumar Agri Food Pvt. Ltd.,M/s. Basani Agro Innovations Pvt. Ltd.,M/s. Sam Agri Tech Pvt. Ltd.,M/s. Al-Sami Agro Products Pvt. Ltd., M/s. Yeruka Naidu Agros,M/s. RN Galla Family Pvt. Ltd., Galla Foods Division, M/s. JYJ Trade and Exports, M/s. DP Chocolates and M/s. Anakapalli Agriad Horti Farmer Producer Company Limited have participated and exhibited their products at the WFI 2023.

 

Women entrepreneurs and one FPO from Andhra Pradesh participated in the event. The GI products of BandaruLaddu from Andhra Pradesh and TandurRedgram from Telangana have also been exhibited in the APEDA pavilion.

 

Mr. R P Naidu, AGM and Regional Head for Andhra Pradesh and Telangana State have participated in World Food India 2023 at Pragati Maidan, New Delhi.

At a time when the country is facing a serious sugar crisis, India has allowed to export 25,000 tonnes of sugar to Nepal with immediate effect.

 

The same facility is given to another South Asian country Bhutan that is vastly dependent on India in sugar and facing a similar kind of crisis like Nepal.

 

According to a decision taken by India’s Ministry of Consumer Affairs, Food and Public Distribution on Thursday, the release of 25,000 tonnes of sugar will be made available through the National Cooperative Exports Limited (NCEL).

 

The Directorate General of Foreign Trade (DGFT) in an October 18 notice had extended the restriction on sugar exports beyond October 31 until further notice. However, a Committee of Ministers formed to review the price and availability of essential commodities decided to allow the sugar export to Nepal and Bhutan through NCEL.

 

Consumers in Nepal have been facing serious sugar shortages during festive seasons due to the export ban. The allotted export by the Southern neighbour may meet demands for three to four months, say Nepali officials.

 

India has been halting shipments of sugar for the first time in seven years saying that lack of rain has cut cane yields. India allowed mills to export only 6.1 million tonnes of sugar until September 30, after letting them sell a record 11.1 million tonnes during the last season.

 

Directorate of Sugar, Vegetable Oils, Department of Food and Public Distribution, Ministry of Consumer Affairs, Food and Public Distribution, in exercise of powers conferred by section 3 of the Essential Commodities Act, 1995 read with the clauses 4 and 5 of sugar (control) order, 1996, grants permission to the NCEL to export 25,000 tonnes of sugar each to Nepal and Bhutan till September, 2024, reads the export release order seen by the Post.

 

A senior official at the Ministry of Agriculture said that although they are aware of India’s decision, they are yet to receive formal information.

 

'Once we receive a formal notice on the decision, we will correspond with NCEL and move forward with the imports as soon as possible given the urgency of the matter,' the official told the Post.

 

Two government agencies— Salt Trading Corporation and Food Management and Trading Company– had called separate international tenders for importing sugar but they were not sufficient. The decision of the Indian government comes as a huge relief to us but not sufficient, the official added.

 

On September 13, the Finance Ministry approved the import of 20,000 tonnes of sugar for the festive season.

 

The Ministry of Industry, Commerce, and Supplies had asked to import 60,000 tonnes of sugar to meet the anticipated festival demand. Despite these approvals, sugar imports are dismal and the general public is forced to pay almost double the price to get sugar from the market or there is no availability of sugar.

 

Ahead of the Dashain festival, sugar was available for Rs88 per kg a few weeks ago, but now it costs Rs140 per kg in the black market, according to consumer rights groups.

 

Nepal’s annual sugar requirement is around 270,000 tonnes.

 

The country faces a deficit of about 100,000 tonnes of the sweetener annually which is fulfilled through imports by the private sector and sometimes by the two government companies.

 

Nepal used to produce 155,000 tonnes of sugar annually till a few years ago, which has now declined to 120,000 tonnes after sugar mill owners failed to pay sugarcane growers on time, according to the Salt Trading Corporation.

The Union Health Ministry plans to introduce a Bill in Parliament to amend the FSS Act of 2006, which is aimed at revamping the functioning and specifying the jurisdiction of FSSAI.

 

According to Sudhansh Pant, Chairman, FSSAI, and Secretary, Health, Government of India, the Union Health Ministry shall soon introduce an amendment Bill in Parliament that would focus around reforming the functioning of the food authority.

 

Reports suggest that through the amendment, the FSSAI shall be given more powers thereby strengthening the food authority for ensuring compilation of the food safety & quality norms.

 

Meanwhile, in 2020, the food authority had introduced draft rules for public comments with respect to designated officers proposing it to be at par with the rank of ‘Sub-Divisional Officer’ or equivalent.

 

The draft also proposes to give powers to Commissioners of Food Safety in the state to appoint Sub-Divisional Officers of the area on additional charge as designated officers for a specific period with the approval of the state government.

 

Also, amongst duty list for Food Safety Officer, it was proposed that a FSO shall ‘examine the label of any article of food to be sent for analysis in accordance with the requirements of labelling, advertisement and claims as specified in the relevant Food Safety and Standards Regulations and send the report of non-compliance, if found, to the designated officer for scrutiny so as to take further proceedings as per the provision of the Act, or rules made thereunder.’

The inauguration of the second edition of the 'World Food India 2023' mega food event took place today at Bharat Mandapam, Pragati Maidan, in New Delhi, with Prime Minister Shri Narendra Modi presiding over the event. During the inauguration, the Prime Minister provided Seed Capital Assistance to over one lakh Self Help Group (SHG) members, reinforcing the support for these groups. Prime Minister Modi also toured the exhibition displayed on the occasion.

 

The primary objective of the event is to present India as the 'food basket of the world' and commemorate 2023 as the International Year of Millets. In his address, the Prime Minister praised the technology and startup pavilion as well as the food street featured at the event, emphasizing that the fusion of technology and culinary excellence will shape the future economy. Prime Minister Modi highlighted the pressing challenge of food security in today's changing world and underscored the importance of World Food India 2023 in this context.

 

The Prime Minister emphasized the significant recognition received by India's food processing sector, often referred to as the 'sunrise sector,' owing to the outcomes of World Food India. He said that in the past nine years, the sector has attracted foreign direct investments exceeding Rs 50,000 crores, thanks to the government's industry-friendly and farmer-centric policies. Prime Minister also mentioned the progress made under the Production-Linked Incentive (PLI) scheme in the food processing sector, which has greatly aided new entrants. He further highlighted the ongoing projects under the Agri-Infra Fund, focusing on post-harvest infrastructure, with an investment exceeding Rs 50,000 crores. Additionally, investments in processing infrastructure in the fisheries and animal husbandry sector, amounting to thousands of crores, were encouraged.

 

The Prime Minister highlighted India's remarkable progress in the food processing sector, crediting the government's dedicated efforts. He mentioned the creation of the Agri-Export Policy, development of nationwide logistics and infrastructure, establishment of district-level hubs, expansion of Mega Food Parks, and significant increase in India's food processing capacity. Shri Modi also mentioned unique agricultural products being exported from India, such as black garlic from Himachal Pradesh, dragon fruit from Jammu & Kashmir, soya milk powder from Madhya Pradesh, and others.

 

Shri Modi emphasized the importance of women-led development in India and highlighted the contributions of women to the food processing industry. He mentioned the promotion of cottage industries and self-help groups for women and the disbursal of seed capital to over 1 lakh women on the occasion.

 

The Prime Minister discussed India's rich food diversity and cultural heritage, emphasizing the importance of sustainable food habits linked with Ayurveda. He stressed the need for the food processing industry to implement ancient knowledge for global food security. Shri Modi acknowledged 2023 as the International Year of Millets and encouraged discussions on increasing the use of millets globally.

 

Shri Modi emphasized sustainable agriculture, food security, and nutrition security, as highlighted in the G-20 Delhi declaration. He stressed the role of all partners in the food processing industry and urged the reduction of post-harvest losses through technology. The Prime Minister expressed confidence that the event's conclusions will pave the way for a sustainable and food-secure future globally.

 

Union Ministers, Shri Piyush Goyal, Shri Pashupati Kumar Paras, Shri Giriraj Singh, Shri Parshottam Rupala, and Shri Prahlad Singh Patel, were present on the occasion.

 

On the first day of World Food India 2023, a total of 16 Memoranda of Understanding (MoUs) were signed between the Ministry of Food Processing Industries (MoFPI) and various industry entities. These agreements amounted to a total investment of around Rs 17,990 crore. Notable companies participating in these MoUs included Mondelez, Kellog, ITC, Innobev, Nedspice, Ananda, General Mills, and Ab Inbev, among others.

 

The Ministry of Food Processing Industries, Government of India, organized a Roundtable discussion on the inaugural day of World Food India 2023 . The event was co-chaired by Union Minister Shri Pashupati Kumar Paras , Ministry of Food Processing Industries and Union Minister Shri Piyush Goyal , the Ministry of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles. The Roundtable brought together senior government officials and CEOs from over 70 leading companies operating in the food processing and allied sectors. The discussions in the Roundtable primarily revolved around topics such as ease of doing business, investment and sourcing interests, and gathering industry insights on the existing gaps in the value chain within the Indian Food Processing Sector. The event, except for food street, shall be open for visit without any entry fee.

The government will continue promoting the export of processed food products in place of raw agriculture commodities, said Commerce Secretary Sunil Barthwal while highlighting that the share of processed foods in the agri export basket has increased to 27 per cent from 14 per cent in the past decade.

 

After visiting stalls at the ongoing World Food India 2023 exhibition in Delhi, Barthwal said that over 1,000 buyers from abroad have come from 80 countries, including about 135 from the Middle East, at the invitation of Agricultural and Processed Food Products Export Development Authority (Apeda), Marine Products Export Development Authority (Mpeda), Spice Board, Tea Board and Coffee Board.

 

He said the priority will always be for the government to ensure sufficient availability for the 1.4 billion people of the country, and only the surplus has to be exported. Since the better price realisation comes from processed foods, the government would like exporters to process those raw products in the country and ship them after converting them to value-added products as per global demand.

 

Apeda, government’s key agri export promotion body, on Friday, signed an MoU with LuLu Hypermarket to work together to form a closer association as strategic partners to promote India’s agri products in the global market.

 

According to Apeda data, India’s export of 27 categorised products promoted by the agency has dropped 11 per cent to $ 10.54 billion during April-August of the current fiscal mainly due to curbs on wheat and non-basmati shipments.

 

Surpassing the target of $ 23.56 billion, exports of major agriculture and processed products (broadly divided under 27 categories) promoted by Apeda jumped 8.74 per cent to $26.72 billion during the last fiscal from $24.57 billion in 2021-22.

Finance minister Nirmala Sitharaman on Thursday said India and Sri Lanka have made good progress in negotiations on the proposed Economic and Technology Cooperation Agreement, and the Unified Payments Interface (UPI) payment system will soon be launched in the island nation.

 

Speaking at an event to commemorate the 200th anniversary of the arrival of Indian-origin Tamils in Sri Lanka, Sitharaman said both nations are further 'deepening our civilisation ties' with connectivity as the new focus area. 'As we enhance connectivity between our two countries, we build enduring bridges of experiences and opportunities for our peoples. We weave a future with shared prosperity, overcoming the challenges of the past,' said the minister, who is on a visit to Sri Lanka.

 

As a true friend, she said, India continues to work closely with Sri Lanka on its path to economic recovery. India rendered financial assistance of over $4 billion for Sri Lanka. 'We were the first bilateral creditor to convey financing assurance to the IMF, which paved the way for others to provide similar assurances that formalised the IMF programme for Sri Lanka,' she said.

 

Agreeing that quality standards are a passport for trade, Commerce and Consumer Affairs Minister Piyush Goyal on Friday said India is making policy efforts to ensure consumers get out of the good-old day's mindset of two standards -- local and export quality -- of products. Goyal, while addressing the G-20 Standards Dialogue here, recalled that in the good old days, every product had a mark for 'export quality' and consumers who could afford used to pick up export quality goods.

 

'Our effort is to move out of that mindset. Our effort is that every product that is made in India will be a high-quality product. When a consumer picks up a product will be reassured of high quality and will not have to look at other products for 'x' quality. Policymaking in India is moving in that direction,' he said.

 

He also said that standards are like patents and he cannot but agree with what the chief of the Bureau of Indian Standards (BIS) Pramod Kumar Tiwari looks at standards as a passport to trade.

 

Those who control standards and have the ability to maintain high standards are the ones who will control the markets, prices and processes and become manufacturers and innovators of tomorrow, he added.

 

The minister mentioned that India is making rapid strides to encourage more consumers to become demanding consumers, asking for high-quality goods and services. At the same time, a reasonable time is being given for producers to adopt the new quality standards and ensure India is recognised as a provider of good quality products.

 

'We in government only desire to act as a facilitator, not as a disruptor of your process. We don't want to be a cause of any pain or agony, but we want to handhold and support your efforts. We want India to compete with the rest of the world on equal terms,' he noted. Further, the minister said that quality is not something that comes out of pressure or from quality control order. 'It should come out of the personal conviction of each and every stakeholder,' he said.

 

Stating that 8 billion consumers in the world have the right and desire to have a better quality of goods/services, the minister called for balancing local needs while moving towards the global standards which are acceptable around the world so that India gets out of the mindset of two standards of everything that it produces.

 

He also stressed on the need to progress towards world-class standards, particularly in less developed and developing countries in a calibrated manner but certainly with a collective commitment to maintaining high standards in goods and services for the people of the world.

 

There are opportunities for countries that produce quality goods and services. 'We have a lot to learn from the developed world, we have a lot to support other emerging economies and less developed countries,' he said, adding that if everyone works as a team, standards will enable holistic development and a sustainable future of the world.

 

He suggested that the G20 Standards Dialogue should be a regular engagement and help those countries which do not have a robust system.

The Prime Minister, Shri Narendra Modi inaugurated the second edition of the Mega food event ‘World Food India 2023’ at Bharat Mandapam, Pragati Maidan, in New Delhi today. He disbursed Seed Capital Assistance for over one lakh SHG members to strengthen Self Help Groups. Shri Modi also took a walkthrough of the exhibition showcased on the occasion. The event aims to showcase India as the ‘food basket of the world’ and celebrate 2023 as the International Year of Millets.

 

Addressing the gathering, the Prime Minister hailed the technology and startup pavilion and food street showcased on the occasion and said that the fusion of technology and taste will pave the way for the economy of the future. In the changing world of today, the Prime Minister highlighted one of the prime challenges of food security and underlined the significance of World Food India 2023.

 

Prime Minister Modi underlined that the outcomes of World Food India are a huge example of India’s food processing sector being recognized as the ‘sunrise sector’. In the last 9 years, the Prime Minister informed that the sector has attracted foreign direct investment of more than Rs 50,000 crores as a result of the government’s pro-industry and pro-farmer policies. Throwing light on the PLI scheme in the food processing sector, the Prime Minister said that it is providing huge assistance to the new players in the industry. He mentioned that work is underway on thousands of projects under the Agri-Infra Fund for post-harvest infrastructure with an approximate investment of more than Rs 50,000 crores while processing infrastructure in the fisheries and animal husbandry sector is also being encouraged with an investment of thousands of crores.

 

'The investor-friendly policies by the government are taking the food sector to new heights', Shri Modi remarked. In the last 9 years, the Prime Minister informed that the share of processed foods in India’s agricultural exports has grown from 13 percent to 23 percent, making an overall increase of 150 percent of exported processed foods. 'Today, India stands at the 7th position with an overall export value of more than 50,000 million USD in agricultural produce', he informed. He underlined that there is no sector in the food processing industry where India has not shown unprecedented growth and said that it is a golden opportunity for every company and start-up associated with the food processing industry.

 

Prime Minister Modi credited the consistent and dedicated efforts by the government behind the speedy and rapid growth in India’s food processing industry. He mentioned the creation of Agri-Export Policy for the first time in India, the development of nationwide logistics and infrastructure, the creation of more than 100 district-level hubs connecting the district to the global markets, increase in the number of Mega Food Parks from 2 to more than 20, and India’s food processing capacity increasing from 12 lakh metric tonnes to more than 200 lakh metric tonnes, which is a 15 time increase in the last 9 years. The Prime Minister gave examples of agricultural produce that are being exported from India for the first time and mentioned black garlic from Himachal Pradesh, dragon fruit from Jammu & Kashmir, soya milk powder from Madhya Pradesh, Karkitchoo apples from Ladakh, Cavendish banana from Punjab, Gucchi Mushrooms from Jammu, and Raw honey from Karnataka.

 

Noting the rapid urbanization of India, the Prime Minister drew attention to the increasing demand for packaged food creating unexplored opportunities for farmers, start-ups and small entrepreneurs. Shri Modi emphasized the need for ambitious planning to make full use of these possibilities

 

The Prime Minister underlined the three main pillars of India's growth story in the food processing sector - small farmers, small industries, and women. He highlighted the effective usage of Farmer Produce Organizations or FPOs as a platform to increase the participation and profits of small farmers. 'We are making 10 thousand new FPOs in India, out of which 7 thousand have already been made', he informed. He noted the increased market access and availability of processing facilities for farmers and also informed that about 2 lakh micro enterprises are being organized in the food processing industry to increase the participation of Small Scale Industries. 'Schemes like ‘One District One Product’- ODOP are also giving a new identity to small farmers and small industries', he added.

 

Throwing light on the path of women-led development in India, the Prime Minister highlighted the increasing contributions of women to the economy thereby benefiting the food processing industry. He informed that more than 9 crore women in India are associated with self-help groups today. Underlining that women have taken the lead in food science in India for thousands of years, the Prime Minister said that the food variety and food diversity in India is a result of the skills and knowledge of Indian women. He stated that women have been running the market of many products like pickles, papads, chips, murabba etc. from their homes. 'Indian women have the natural ability to lead the food processing industry', Shri Modi remarked as he informed that cottage industries and self-help groups are being promoted at every level for women. PM Modi mentioned disbursing seed capital worth crores of rupees to more than 1 lakh women on today’s occasion.

 

'There is as much food diversity in India as there is cultural diversity. India’s food diversity is a dividend for every investor in the world', the Prime Minister remarked. Noting the increased interest in curiosity towards India, the Prime Minister emphasized that the food industry around the world has a lot to learn from the food traditions of India. He said that India's sustainable food culture is the result of thousands of years of its development journey. Throwing light on the evolution of India's sustainable food culture over thousands of years, the Prime Minister underlined that India’s ancestors linked food habits with Ayurveda. 'In Ayurveda, it is said ‘Rita-Bhuk’ i.e. eating according to the season, ‘Mit Bhuk’ i.e. balanced diet, and ‘Hit Bhuk’ i.e. healthy foods, these are important parts of India's scientific understanding', he explained. He also noted the perpetual impact of trade in food grains, especially spices from India on the world. Speaking about Global Food Security, the Prime Minister stressed the need for the food processing industry to understand and implement the ancient knowledge of sustainable and healthy food habits. Shri Modi acknowledged the world celebrating 2023 as the International Year of Millets. 'Millets are a part of India’s ‘superfood bucket’ and the government has identified it as Shri Anna', Shri Modi said. Even though millets were given great priority in most civilizations for centuries, the Prime Minister pointed out that it had made its way out of the food habit in many countries including India in the last few decades, thereby causing huge damage to global health, sustainable farming as well as sustainable economy. 'On India’s initiative, an awareness campaign regarding millets has started in the world', the Prime Minister said expressing confidence that millets reach every corner of the world similar to the impact of International Yoga Day. He mentioned dishes made from millets for dignitaries visiting India during the recent G-20 summit as well as the availability of processed food items made from millets in the market. Prime Minister Modi urged the dignitaries on the occasion to discuss ways to increase the share of Shri Anna and prepare a collective roadmap for the benefit of the industry and the farmers.

 

Shri Modi said that the G-20 group has emphasized sustainable agriculture, food security and nutrition security in the Delhi declaration, and highlighted the role of all partners associated with food processing. He stressed moving the food distribution program towards a diversified food basket and eventually minimizing post-harvest losses. He also stressed reducing wastage by making use of technology. He urged to increase the processing of perishable products to reduce wastage, thereby benefiting farmers and preventing price fluctuations. Concluding the address, the Prime Minister underlined the need to strike a balance between the interests of farmers and consumers' satisfaction. He expressed confidence that the conclusions drawn here will lay the foundation of a sustainable and food-secure future for the world.

 

Union Minister for Consumer Affairs, Food and Public Distribution, Shri Piyush Goyal, Union Minister for Food Processing Industries, Shri Pashupati Kumar Paras, Union Minister for Rural Development, Shri Giriraj Singh, Union Minister of State for Animal Husbandry, Dairying and Fisheries, Shri Parshottam Rupala, and Union Minister of State for Food Processing Industries, Shri Prahlad Singh Patel were present on the occasion among others.

 

Background

 

To strengthen Self Help Groups, the Prime Minister disbursed Seed Capital Assistance for over one lakh SHG members. This support will help SHGs gain better price realization in the market through improved packaging and quality manufacturing. The Prime Minister also inaugurated Food Street as part of World Food India 2023. It will feature regional cuisines and royal culinary heritage, wherein over 200 chefs will participate and present traditional Indian cuisine, making it a unique culinary experience.

 

The event aims to showcase India as ‘food basket of the world’ and celebrate 2023 as the International Year of Millets.  It will provide a networking and business platform for government bodies, industry professionals, farmers, entrepreneurs and other stakeholders to engage in discussions, establish partnerships, and explore investment opportunities in the agri-food sector. CEOs roundtables will focus on investment and Ease of Doing Business.

 

Various pavilions will be set up to showcase the innovation and strength of the Indian food processing industry. The event will host 48 sessions focusing on various aspects of the food processing industry, emphasizing financial empowerment, quality assurance and innovations in machinery and technology.

 

The event is poised to host participants from over 80 countries, including CEOs of prominent food processing companies. It will also feature a Reverse Buyer Seller Meet, with over 1200 overseas buyers from over 80 countries. The Netherlands will serve as the partner country, while Japan will be the event's focus country.

The Indian government, through the Food Corporation of India (FCI), has sold 2.88 lakh tonnes (lt) of wheat in the open market through an auction on November 1, which is nearly 96 per cent of the 3 lt of the total quantity offered for sales to the processors. With higher allocation for the auction, the government has been able to contain the rising trend in wheat prices, an official said.

 

The weighted average selling price of wheat was Rs.2,310/quintal on November 1 e-auction, which is the same as the previous week, the official said.