Cargill has announced it will invest $250 million in India over the next five years as it aims to expand in the country’s food processing industry.
The investment will be in the company’s core businesses, including edible oil, cocoa and chocolates, starches and sweeteners, and animal nutrition.
Cargill predicts that the investment will provide employment to 1,300 people as well as help the country’s agriculture sector.
Last year, Cargill inaugurated its first wet corn milling plant in India, set up with an investment of $100 million.
The company has inaugurated a new dairy feed mill in Bathinda, Punjab, and has opened its largest business services centre in Bengaluru in 2015, employing around 2,000 people.
The latest announcement was made by CEO of Cargill Asia Pacific Peter Van Deursen at the World Food India Conference.
“India is an important market for us and this increased investment demonstrates our commitment to the country and the development of its agriculture and food processing industry,” he said.
“With the growing population and changing consumer trends, Cargill is committed to nourishing the people of India in a safe, sustainable and responsible manner.
“The Ministry for Food Processing Industries is to be complimented for organising an event the scale of World Food India as it lets us collaborate with partners in the public and private sectors to deliver to our customers what consumers want.”
Cargill started operations in India in 1987, with businesses in refined oils, food ingredients, grain and oilseeds, cotton, animal nutrition, industrial specialties and trade structured finance.
Source: FoodBev.com
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