Cargill to invest $240 million in India over five years
Cargill, a food and agriculture company, has announced that it is investing $240 million in India over the next five years.
Cargill, a food and agriculture company, has announced that it is investing $240 million in India over the next five years. These new investments will add to the food safety and economic development of the country and benefit the food processing and agriculture industries.
The announcement was made at the World Food India Conference by Peter Van Deursen, Chief Executive Officer, Cargill Asia Pacific at a signing ceremony of a Memorandum of Understanding (MOU) with India Ministry of Food Processing Industries in the presence of Honorable Union Minister of Food Processing Industries, Smt. Harsimrat Kaur Badal.
The added investment will be in Cargill’s core businesses including, edible oil, cocoa and chocolates, starches and sweeteners, and animal nutrition in India. In addition, it will provide employment to 1,300 people and help farmers in the country.
“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,” said Peter Van Deursen, CEO, Cargill Asia Pacific. “With the growing population and changing consumer trends, Cargill is committed to nourishing the people of India in a safe, sustainable, and responsible manner.”
Last year, Cargill inaugurated its first wet corn milling plant in India with an investment of $100 million. The company also has a dairy feed mill in Bathinda, Punjab, and a business services center in Bengaluru.